Online Banking Options
Multifamily Lending Group
CNB’s Multifamily Lending Group is both a direct lender and a HUD approved Multifamily Accelerated Processing (MAP) lender that specializes in commercial loans for multifamily properties. Our team has many years experience with market rate, affordable, low income housing tax credit (LIHTC) and historical tax credit (HTC) transactions, and construction projects. Please contact Adam Baker directly to discuss your banking needs (see contact info below).
Multifamily Loan Products offered by CNB:
Permanent Loans through the HUD MAP loan program offer terms up to 35 years for acquisition/refinance or 42 years for new construction/substantial rehabilitation. These loans are available for stabilized properties, new construction, or communities that require extensive rehab. Loan terms include low fixed interest rates for the life of the loan, are fully amortizing, assumable, and are non-recourse.
Mini-perm Loans from 3 to 10 years. These may be used for stabilized properties and offer a flexible structure based on the unique attributes of each property. Non-recourse options are available through FNMA and Freddie Mac.
Construction Loans for either new construction or rehab projects. These loans tend to have maturities from 6 to 24 months depending on the scope of the project. Our goal is to also offer a term loan following stabilization of the property.
Bridge Loans are available for acquisitions or refinances that are time sensitive. Prior to closing, underwriting will be performed to identify the best takeout option.
SVP, CRE Finance Manager / Chief HUD MAP Underwriter
Phone: (918) 508-2008