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

Commercial Mortgage Apartment Chicago Nationally Rates

FNMA Small Apartment Loans Chicago Apartment Purchase Refinance: http://bit.ly/cd5Xae 5.90% 10 yrs

Small loans $750,000 - $3,000,000 - 5.90% 10 yrs.

Apartment Loan Rates Agency 10 yr. 5.75% - 7 yr 5.40% FHA 223(f) 5% including MIP 35 yrs.

Refinancing of LIHTC apartments - Market Rate Apartments FHA 221(d)4 new construction for apartments.

FHA 232 LEAN financing takes over 6 months for refinances but rates are great.

New construction Assisted Living takes about a year under FHA 232 LEAN new construction.

We are working conventionally on deals

Bank Loans Apartment Commercial Mortgage

Apartment Loans

We have several bank lending programs available for Chicago, WI, MN and IN. rates start in the low 5% for 5 years.

FNMA DUS rates back up to about 5.85% for ten years The small apartment loan runs about 6.10% for ten years.

FHA 223(f) holding steady near 5% 35 years $3 million min.

Healthcare Assisted Living Nursing Home

FHA 232 223(f) just over 5% for 35 years.

FHA 242 Hospital Refinance 5.85% 25 years