Multifamily loans are a preferred category of loans at Montegra.  We will lend up to 65% of appraised value on this category of property.  We are willing to consider properties that have a low occupancy when our loan is closed and work with the borrower towards allowing property upgrades that will allow increasing the occupancy level.  If the property income is not sufficient to cover loan servicing, then we will create and hold an interest reserve from the loan proceeds that can make some or all of the required monthly loan payments until the property can stand on its own feet.  Typically banks or life insurance companies do not offer the same type of flexibility in funding loans on multifamily properties.  Montegra can close loans very quickly – in as little as 7 days if borrower already has the necessary loan underwriting materials.  This type of fast close loan can be helpful when, in a purchase situation, the prospective borrower thinks they have a loan commitment from a bank and then, at the last minute, the bank pulls the plug and reneges on the loan offer.    We consider first mortgage secured loans from $500,000 to $7,000,000 on any one property and only fund loans on properties in Colorado.