Author name: Julie F. Morin

Understand why debt structure can create risks that a headline loan-to-value ratio may not reveal. This practical guide explains interest rates, maturity, amortization, payment priority, covenants, reserves, lender controls, and refinancing assumptions for accredited investors and RIAs reviewing private multifamily opportunities. It also outlines how conservative leverage fits a complete diligence process and provides questions for testing higher costs, lower income, valuation declines, and limited refinancing options. Use the checklist to review the full capital stack without treating one financing metric as a promise of performance.