Apartment Loan for busted Condo

Apartment Loan Rates

Kendall arranges $2,100,000 first mortgage on Glenlake Apartments. The property was original rehabbed at a cost of close to $5,000,000 but the condo lender Private Bank discounted the loan by $1,000,000 and released another $500,000 from the property loan.

The borrower was given 12 months to receive a discounted pay-off by the original condominium construction lender. Several banks declined the loan but Kendall was able find a lender for the borrower even if he had very high leverage.

Kendall arranged a loan and it closed within two month from the signing of the bank agreement.

Apartment Loans

Apartment Loan Rates Remain Low as Debt Ceiling Debate Continues

Apartment Loan Rates FHA 223(f) near 4% Fixed 35 year loan
FNMA DUS Ten Year Loans in Low 5% plus range


Small Apartment Loans 10 year fixed around 5.50%

As the deadline gets closer on the debt ceiling
Gold has hit a record high above $1,600 an oz.
I trust that they will all get their act together this
Week.

Apartment Loan Rates are still near historical Record lows

FHA 223f loans at 4% to 4.25% FNMA spreads have risen sligntly

See: Apartment Lender Apartment Loan Pricing : http://bit.ly/k6rQzu

Commercial Mortgage Chicago Apartment Loan Rates

Apartment Lender Commercial Mortgage Rates FHA FNMA and SMALL Apartment Loans

Updated Apartment Loans Rate Chart

Chicago Commercial Mortgage Apartment Rates April 1, 2011

Agency Multifamily Loan Rates 10 yr 5.80% - 7 yr 5.50%
Small Apartment Loan Chicago 5.95
FHA 223 (f) 5% $3 M and up 35 yrs

Banks 5-6% 5 years

Multifamily Fundamentals Best of Commercial Real Estate Property Types

Multifamily Fundamentals Better than Other Property Types | Multi-Housing News Online

Multifamily fundamentals in particular have improved, though not quite back to where they were during the more flush days of the mid-2000s. During 3Q10, average apartment vacancies nationwide were 7.7 percent, compared with 5.8 percent during 3Q07. Yet among property types, apartments are the healthiest in terms of 3Q10 vacancies:

Apartment Loans Click Here

Loan Rates Rising Treasury in SELL OFF

Apartment Loan rates have risen in the last month with rising US treasury rates.  For apartment loan programs  http://bit.ly/Wrs4l Scott (847) 903-7578


Ten and thirty year treasuries are in a sell off losing over one point today with rates rising about 15 basis points
The ten year treasury is now at 3.46% from 3.33% earlier today and near 2% a few months ago.

FHA 223 F rates have risen the least since they are wrapped with GNMA insurance and are rated AAA. FHA 223 F loan can still be locked below 5% for a 35 year loan.

FNMA and Freddie Mac rates have risen more since there is uncertainty of their future credit rating when the government stops backing them up.  Currently large apartment loan rates are about 5.45% for Seven Years and about 5.90% for ten year loans.

FNMA small apartment loans are now running over 6% for ten years.

Several clients have reported bank quotes  of 50% to 60% loan to value and twenty year amortizations, offered by several large Midwestern regional banks.

FHA Multifamily and Healthcare get approval for $5 Billion more in loans

The Committee on Healthcare Financing circulated a bulletin this morning announcing the Senate passed HR 5872, the General and Special Risk Insurance Funds Availability Act of 2010, providing the additional $5 billion of Commitment Authority needed to handle HUD’s estimated multifamily/healthcare caseload through FY End 2010 (September 30, 2010).

Next and final steps:  The Bill will hit the President’s desk and we understand it’s expected to be signed by week’s end.

FNMA Small Apartment Loans rates about 5.50% $750,000 and up 5 or more units Chicago Area Non Recourse upfront costs only $4,500 for appraisal, legal all reports prior to rate lock. This program is HOT right now!!!

FNMA Small Loans FHA 223 F Freddie Mac Apartment Loan News

Updated Commercial Lending Rates for Apartment Loans

Fannie Mae Small Apartment Loans 5.60% over $1 Million 5.7% under $1 Million rate lock in approximately four weeks ten year term non-recourse loan up to 75% Cash Out - 80% Purchase FNMA large rates about 20 to 25 basis points lower.

Apartment Loan Rates FHA 223 F 4.75% fixed rate 35 year term non-recourse Max Loan 75% LTV for Cash Out - 85% for purchase and no Cash Out Refinance transactions processing time about five months.

Healthcare Loans using FHA 232/223(f) 4.85% fixed for 35 years.

FHA 223(f) FHA 221(d)(4) FHA 232 LEAN FHA 242

FHA Apartment and Healthcare Loan Programs

www.FHAAPARTMENTLENDER.COM