Apartment Assisted Living Commercial Mortgage Feb 16-11

Bank Lending picks up Apartment and Assisted Living Refinances $3 to $9 million Chicago and Tri-State Area low 5% to 6%.

Apartment Loan rates are approximately the following for FNMA
and FHA 223(f):


Ten year FNMA Large Apartment Loan 5.90% to 6.00%


Seven year FNMA Large Apartment Loan 5.60% - 5.70%

For loans with 9.5 and 6.5 yrs. yld main. 75% - 80% LTV - 1.25 Min DSC $3 Million or greater

Loans with shorter yld. main. have a higher rate. Loans with lower LTV and higher DSC have a lower rate.

FNMA small loans are running between 6.15% and 6.25% for ten years min. loan size $750,000 and 6 units min.

FHA 223(f) apartment loan rates are just below 5% for 35 years.


It may be more work but it can save you in the long run. Min loan size typically $3 Million.

DSC 1.25 Max LTV 83.3% Cash Out Limit 75% LTV

FHA 232 LEAN - FHA 232/223(f) rates just over 5% due to slightly higher MIP (mortgage insurance premium) Processing time still very long, equity requirement much higher than the past, New construction deals are having the most trouble getting approved.  I get calls from many principals that would love to find an alternative construction loan for very good deals.  In other words construction lenders call me.


In other news the long slow wind down or "enhanced interrogation" of FNMA and Freddie Mac was proposed by the White Papers. The private lenders ( Maybe countrywide-II) would get to run the show again. Good news for apartment owners since down payments would likely go up and prices for homes likely down.

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.

Apartment Loan Rates FHA 223 F FNMA Small Apartment Loans

FNMA DUS Apartment Loan  10yr / 9.5 -  4.73%  - 7yr / 6.5yr yield main. 4.51% - (8/12/10)

FHA 223 F 4.50% 35years FNMA Small Apartment Loan about 5%.

Non Recourse seven and ten year balloon loans

FHA 223(f) thirty fives year fixed rate loans should have broken 4% plus MIP

$5,000,000 and up

FNMA Small Apartment Loans less than $5 million starting at $750,000 Chicago FNMA Selected Cities

Apartment Loans

Scott Kendall (847) 903 7578 kendallrealty@gmail.com

Chuck Kendall (773 259-7074 kendallrealtyadv@gmail.com

Apartment Loan Rates FNMA DUS - FHA 223 F - FNMA Small Apartment

Apartment Lender Rates FNMA DUS Apartment Loan 4.88% 10yr / 9.5 - 4.70% 7yr / 6.5% FHA 223 F 4.50% 35years FNMA Small Apartment Loan a little above 5%.

Non Recourse seven and ten year balloon loans
FHA 223(f) thirty fives year fixed rate loans
$5,000,000 and up

FNMA Small Apartment Loans less than $5 milling to $750,000 Chicago FNMA Selected Cities
Apartment Loans

Scott Kendall (847) 903 7578 kendallrealty@gmail.com
Chuck Kendall (773 259-7074 kendallrealtyadv@gmail.com

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 Apartment Loans Chicago Closed Kendall Apartment Loan

Kendall Realty Advisors LLC closes FNMA small apartment loan Evanston, IL
Loan amount $750,000 plus, term 10 years, rate under 5.60% Non-Recourse
Only $4,500 application fee includes appraisal, engineering and legal for deals exceeding $750,000.
Closings within two to three months of loan application sizing.
Rates set two weeks prior to closing