Commercial Mortgage Update - We have strong bank making bank loans for strong borrowers. They also offer short term apartment and other commercial loans under 5% for three and five years.
FNMA Small Apartment Loans are running about 6% for a point free deal.
FHA proposes changes to FHA 223(f) and 221(d)(4) apartment loans. 1.20 DSC for both programs for market rate deals and increased working capital (4%) and operating deficit for new construction deals. These rules are proposed and are not in effect at this time. FHA 242/223(F) has revised the rules for refinancing and if these rules are adopted more transactions will be able to refinance existing debt.
Commercial Mortgage Chicago
FHA 232 LEAN - FHA 242 - Build Amercia Bonds FHA 242/223 F Hospital Refinance
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