Products and Programs

Multifamily Apartment Projects

New Construction and Substantial Rehabilitation

    •    Up to 83.3% loan to value (Up to 90% for qualified Affordable)
    •    40-year Amortization
    •    Non-recourse loan
    •    Includes construction loan
    •    Tax-exempt or taxable loans
    •    DSCR 1.20x (up to 1.11x for qualified Affordable)
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Acquisition and Refinancing

    •    Up to 83.3% loan to value (up to 90% for qualified Affordable)
    •    35-year Amortization
    •    Non-recourse loan
    •    Finance Needed Repairs
    •    Tax-exempt or taxable loans
    •    DSCR 1.20x (up to 1.11x for qualified Affordable)
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Nursing Homes and Assisted Living Facilities

New Construction and Substantial Rehabilitation

    •    HUD 232 Approved LEAN Financing
    •    Up to 80% loan to value for Skilled (85% if for non-profit)
    •    Up to 75% loan to value for Assisted (80% if for non-profit)
    •    40-year Amortization plus construction or rehabilitation time
    •    Non-recourse loan
    •    Includes construction loan
    •    Tax-exempt or taxable loans
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Acquisition and Refinancing

    •    HUD 232/223 (f) Approved Financing
    •    Up to 80% loan to value for profit (85% if for non-profit)
    •    35-year Amortization
    •    Non-recourse loan
    •    Tax-exempt or taxable loans
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Hospitals

Capital Financing

    •    HUD 242 Mortgage Insurance for Hospitals
    •    New construction, replacement or renovation (including major medical equipment
         and certain transaction costs)
    •    25-year Amortization
    •    Up to 90% loan to value (may permit 100% financing)
    •    Non-recourse loan
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Conventional Financing

    •    Up to 80% loan to value
    •    30-year Amortization
    •    Non-recourse loan
    •    Refinancing of existing HUD-insured mortgage with streamlined financing available

Multi-family Accelerated Processing (MAP)


Gershman Mortgage is one of only 61 lenders in the country approved for all MAP (Multi-family Accelerated Processing) LEAN programs. Gershman can process and underwrite loans under MAP for apartments and LEAN for nursing homes and assisted living facilities.