Commercial Term Lending FAQs

What is Chase Commercial Term Lending?

Commercial Term Lending is a lender business within Chase that offers multifamily and commercial term loan financing in 13 major US Markets.

Multifamily Lending: As the nation’s #1 multifamily lender, Chase provides term financing from $500,000 to $25 million+ for the purchase or refinance of stabilized apartment buildings with five+ units.

Commercial Mortgage Lending: Chase provides term financing from $1 million to $15 million+ for the purchase or refinance of stabilized industrial, office, retail or mixed use properties.

General Questions

Where can I find a local Chase Commercial Term Lending team?

  • Seattle, WA
  • Portland, OR
  • Sacramento, CA
  • San Francisco, CA
  • Los Angeles, CA
  • Orange County, CA
  • San Diego, CA
  • Denver, CO
  • Minneapolis, MN
  • Chicago, IL
  • Boston, MA
  • New York, NY
  • Washington, DC

What can Chase Commercial Term Lending do for my business?

As the nation's #1 multifamily lender, our team is committed to providing apartment building owners with the best financing solutions—all delivered with best-in-class customer service. Our Client Managers have extensive experience in apartment lending and a deep understanding of the local market.

Our team is also committed to providing the best financing solutions to commercial real estate property owners relating to stabilized industrial, office and retail properties.

How do I contact someone about an apartment building loan? 

  • New clients, please find a Client Manager near you or please call (866) 862-9232.
  • For existing clients, we look forward to discussing your current or future multifamily loan. Please contact Customer Care at (877) 344-3080.

How do I contact someone about a term loan on an industrial, office or retail property?

  • New clients, please find a Client Manager near you or please call (866) 862-9232.
  • For existing clients, we look forward to discussing your current or future commercial loan. Please contact Customer Care at (877) 344-3080.

What is the interest rate for multifamily and commercial property Loans?

Chase offers competitive rates for all of our commercial loans. For the current rates available, please contact us.

Application Process

How do I get an apartment loan? How do I refinance my apartment building? 

  • Chase is the nation's #1 multifamily lender because it has a streamlined process. To get things started, we will need two years of operating history and recent rent roll to issue you a written quote ("letter of interest"). An experienced Client Manager will walk you through the whole process.
  • After a letter of interest is accepted, we require an application deposit to process the loan and appraisal.
  • The next step is to provide an application, personal and financial statements, scheduled real estate and entity documents. Tax returns are not required.

How much does the apartment loan process cost? 

Chase prides itself on our low fees. An apartment loan can cost the greater of $2,000 or 12.5 basis points of loan amount.

Can I get an early rate lock on my loan?

Early rate lock is available through Chase and can be applied to the loan fee or other loan costs, or refunded at closing.

What happens after I apply for a multifamily loan?

The next steps are:

  • Order the appraisal (generally takes two to three weeks)
  • Process the application package and personal financials
  • Go to final underwriting
  • Provide loan documents          

Does Chase work with brokers or offer rebates? 

Yes, Chase works with brokers, but we do not offer rebates.

Loan Programs and Terms

Can I get a fixed rate commercial property loan? Can I get an adjustable rate commercial property loan?

Yes, Chase offers both fixed rate and adjustable rate loan programs:

  • Initial fixed rate for 3, 5, 7 or 10 years, then adjustable for remaining term
  • 15-year fixed
  • 6 month LIBOR arm

What is the maximum loan amount I can get for a commercial property loan? What is the minimum loan amount I can get for a commercial property loan?

Chase provides apartment owners the best term financing solutions from $500,000 to $25+ million.

What type of prepayment terms does Chase offer? 

  • Chase provides flexible prepayment terms (step-down and yield maintenance).
  • No prepayment on most products if refinanced with Chase after two years at no less than the current balance and rate.

Is Chase a portfolio lender?

Yes, Chase holds our loans on our balance sheet while providing the best-in-class loan serving.  Chase is also a Fannie Mae DUS ® lender.

What is the typical closing time for a multifamily loan?

Our fast, efficient loan process typically closes in 45 days or less.

What is amortization? 

Amortization is the time period in which a loan is paid back in full.

What is non-recourse apartment building financing?

Non-recourse means that there is no personal guarantee. Non-recourse available subject to approval.

Does Chase allow for interest only on apartment building loans? 

Yes, Chase does provide interest-only financing on multifamily loans, but on a case-by-case basis. There is a $1 million loan amount minimum, for up to three years. Please contact a Client Manager in your area for more information.

What index are Chase rates tied to during the variable rate period?

6-month LIBOR.

Does Chase lend on other commercial properties? 

Yes, Chase lends on other commercial property types, but standards vary.

What type of commercial property financing is available?

  • Apartment buildings with 5 or more units
  • Stabilized office, retail, industrial and mixed-use properties

How can I get construction financing?

Chase offers construction financing. For more information please visit Real Estate Banking.

 

 

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