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
Sunday, August 1, 2010
Tuesday, July 6, 2010
Commercial Mortgage Rates Chicago
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
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.
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
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.
Friday, March 26, 2010
Saturday, February 20, 2010
FHA apartment Loans FHA 223(f) and FHA 221(d)(4) Changes
FHA proposed underwriting changes 1.2 DSC Market Rate Refinance or New Construction
Click here for the full letter:
Click here for the full letter:
Tuesday, February 16, 2010
Rival makes $10-billion offer for General Growth - Chicago Real Estate Daily
Rival makes $10-billion offer for General Growth - Chicago Real Estate Daily
Is this a sign that the bottom of CRE has been hit?
Is this a sign that the bottom of CRE has been hit?
Thursday, February 11, 2010
Multifamily REIT CEOs Upbeat On Apt. Prospects Despite Bleak Fundamentals - CoStar Group
The future of Apartment Rentals - Apartment Lender - Apartment Refinance
Multifamily REIT CEOs Upbeat On Apt. Prospects Despite Bleak Fundamentals - CoStar Group
Multifamily REIT CEOs Upbeat On Apt. Prospects Despite Bleak Fundamentals - CoStar Group
Wednesday, February 10, 2010
Chicago Commercial Mortgage Lender Rate and FHA Update
FHA may change underwriting to 1.20 DSC for 223(f) and and 221(d)(4).
FHA refinance rates are still below 5% plus MIP. FNMA small loan fixed 10 years no points about 6%.
Bank Lending Update:
A recent survey suggests banks are starting to lend again to commercial real estate developers and owners. Of the 60 banks surveyed at the MBA conference in Las Vegas earlier this month, 24 expect to lend $2 billion to $4 billion each in 2010 to the sector:
The recent fall in prices offers investors the opportunity to pick up quality assets at a substantial discount.
Many people in the field think that commercial real estate is going through its last stage of the crisis, which Moody’s estimates shaved 44% to 55% off 2007 prices.
We are seeing activity with strong borrowers buying bank owned real estate.
FHA refinance rates are still below 5% plus MIP. FNMA small loan fixed 10 years no points about 6%.
Bank Lending Update:
A recent survey suggests banks are starting to lend again to commercial real estate developers and owners. Of the 60 banks surveyed at the MBA conference in Las Vegas earlier this month, 24 expect to lend $2 billion to $4 billion each in 2010 to the sector:
The recent fall in prices offers investors the opportunity to pick up quality assets at a substantial discount.
Many people in the field think that commercial real estate is going through its last stage of the crisis, which Moody’s estimates shaved 44% to 55% off 2007 prices.
We are seeing activity with strong borrowers buying bank owned real estate.
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