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CPC is a long-time Freddie Mac Seller/Servicer and offers a full range of competitively priced, reliable mortgage products for multifamily properties. This pilot program offers refinancing options in connection with the new construction of substantial rehabilitation of a property.
CPC is a long-time Freddie Mac Seller/Servicer and offers a full range of competitively priced, reliable mortgage products for the acquisition or refinance of multifamily properties. Fixed-rate and floating-rate loans are available ranging from $5 million to $100 million, with 5- to 10-year terms.
We will simultaneously commit a construction loan and a long-term permanent mortgage, which can be committed up to 24 months in advance. This includes lending for the acquisition/refinancing and rehabilitation of multifamily-occupied properties, gut renovation of vacant buildings into multifamily properties, and new construction of multi- and single-family properties.
CPC is a long-time Freddie Mac Seller/Servicer and proud to be an approved lender for their Small Balance Loan (SBL) product. This product provides loan amounts from $1 million to $6 million in all markets, with loans up to $7.5 million in top and standard markets. Lending for cooperative buildings in New York City is also available. This program offers flexible terms and prepayment options, competitive low rates, and streamlined pricing, underwriting, closing, and funding process.
Our longstanding partnerships with public pension funds, the New York City Retirement Systems (NYCRS) and the New York State Common Retirement Fund (CRF), as well as a private pension fund administered by Wespath Benefits and Investments, allow CPC to leverage their strength to bring stable permanent capital to our borrowers in New York State. Additionally, our Long Term Fixed-Rate Financing Product can be insured by the State of New York Mortgage Agency (SONYMA).