Apartment Loan Rates FHA 223 f under 4% FNMA new lows!

Apartment loan rates have moved down and now FHA 223(f) 35 year loans from $2,000,000 and up are under 4% fixed and Small apartment Loans from $750,000 to $5,000,000 are well under 5% fixed for up to ten years. This is due to the "TWIST" action by the FED and the EU currency crisis with Greece on the verge of certain default.

This programs is for owners of a few properties with good credit. Cash out loans up to 75% Purchase and no cash out loans up to 80%.

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Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

The Process - These loans have a process and they require good documentation. A commitment or rate lock will not happen until all the reports are in and all of the underwriting is complete. Once the commitment is issued, a rate lock and closing can be done quickly. If a loan does not fit the program an application will not be issued.

We will review some basic information about the properties historical income and the borrower's financials situation and then issue a quote. If the borrower likes the quote they will receive and sign the application and send the application deposit. The appraisal and other reports will be ordered. Once the reports are in and the borrower has submitted all the required documentation, the commitment will be issued. The borrower documents include organizational documents, personal financial statements, copies of bank statements, real estate schedules, property income and expense statements, rent roll, copies of leases as well as other forms.

Apartment Lender Rates are near Historic Lows as we go thru early #NORMAGEDDON

7 Year / 6.5 Year 4.86%  10 Year / 9.5 Year 5.40%  .

Apartment Loan rates #Normageddon a man made default in USA debt cause by a pledge to #GROVER #NORQUIST

Apartment Lender Apartment Loan Pricing

Apartment Lender Apartment Loan Pricing

Apartment Refinance and Purchase Loan FHA Fannie Mae DUS Freddie Mac: http://bit.ly/Wrs4l

FHA 223(f) Apartment Loans

FHA 223(f) Apartment Loans

Multifamily Rental Housing
Section 223(f)
Acquisition or Refinance

Summary:
Insured mortgages may be used to finance acquisition or refinance of rental properties consisting of 5 or more units 3-years old or older.

Eligible Borrowers:
• Single Asset Entity

Terms:
• Up to 35 Years

Loan Benefits:
• Non Recourse
• Fully assumable
• credit enhancement of Housing Bonds for AAA rating

Rates:
• Fixed for the length of the mortgage

Processing:
• Eligible for Multifamily Accelerated Processing (MAP).

Mortgage Loan Limitations:

Refinance
The maximum insured mortgage will be the lessor of:
• DSC - 1:17
• 85% loan to value (80% if cash out)
• 100% existing debt plus loan costs, including repairs
• FHA’s per unit mortgage limits

Acquisition
The maximum insured mortgage will be the lesser of:
• DSC – 1:17
• 85% of the loan to value
• 85% of acquisition costs including loan costs and repairs.
• FHA’s per unit mortgage limits

Secondary financing:
• Permitted; repayment is subject to availability of surplus cash, special conditions apply.

Prepayment Terms:
• Typically 5-Year lockout with a declining penalty of 1% per year for years 6 through 10, then 0%.




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