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Digital Platform Provides Multifamily Borrowing Options
TapCap, described as the real estate industry’s first fully digital nationwide multifamily lending company, is now up and running. The company says it provides borrowers with access to real-time and fully transparent financing options at their fingertips.
“The mortgage experience for commercial properties hasn’t changed much in the last few decades,” said Zac Rosenberg, CEO of New York-based TapCap. “Lenders traditionally quote aggressively to win business, but there’s a 50-50 chance those will not be the terms a borrower receives at the closing table.
“Borrowers deserve an approach that is transparent and financially smart, and one without any surprises,” Rosenberg continued. “This is what TapCap is all about.”
TapCap currently provides financing for multifamily projects nationwide across conventional, student, military, seniors and affordable housing property types. Loans are available for both refinance and acquisition of stabilized properties with five- to 35-year terms, including fixed, floating and interest only.
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