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.

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

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.