FHA 223(f) Apartment Lender - FNMA DUS LARGE Small Apartment Loans - Refinance - Apartment Loans

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

2011-09-18T11:44:00.000-07:00

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 Apartment Loan Pricing

2011-05-24T12:27:00.000-07:00

APARTMENT LOAN RATES FNMA FREDDIE MAC FNMA LARGE AND SMALL LOANS

Apartment Lender Apartment Loan Pricing

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

Apartment Loans - Rates Programs

2011-05-18T13:59:00.000-07:00

Apartment Loan Apartment Refinance FHA 223 f, Fannie Mae DUS, Freddie Mac: http://t.co/eYzcVNS

FNMA DUS Large Apartment Loans Chicago Nationally

2010-08-07T10:09:00.000-07:00

With interest rates near historic lows we are actively seeking FNMA DUS large and FNMA Small apartment Loans in Chicago and Nationally.

FNMA DUS rates are in the low 5% range for ten year NON RECOURSE loans.

Contact Scott Kendall (847) 903-7578 for DUS loans

Contact Charles Kendall (773) 259-7074 for FNMA Small Apartment Loans

www.kendallreatlyadvisors.com

Kendall Closes FNMA Small Apartment Loan Evanston, IL

2010-08-01T12:54:00.001-07:00

Kendall Realty Advisors LLC closes a small apartment loan under the FNMA small apartment loan program.

The loan was closed in a timely manor from application to closing and the borrower was able to take advantage of falling rates and close the ten year loan at a rate below 5.60%.

The property contained 10 units and was located in Evanston, IL. We are currently working several other refinances in Evanston and Chicago, IL and expect to give our clients the same prompt service so they can lock into these historically low rates.

FHA 223(f) FHA 221(d)(4) FHA 232 LEAN FHA 242

2010-03-26T19:26:00.001-07:00

FHA 223 F Apartment and Healthcare Loan Program Links:

FHA 223 F - FHA 232 - FHA 242

FHA proposes Changes to Underwriting FHA 223(f) and FHA (d)(4)

2010-02-06T12:57:00.000-08:00

FHA Bombshell: We're Tightening Our Underwriting - Debt, Lenders, Government Entities - Multifamily Executive Magazine:

"FHA wants to raise the debt service coverage ratio (DSCR) for the popular Sec. 221(d)(4) program"

"under the proposed changes, market-rate deals seeking 221(d)(4) loans would be underwritten to a minimum 1.20x DSCR. Projects with subsidy levels of 95 percent or greater will still enjoy a 1.11x DSCR, but low-income tax credit deals would be bumped up to a minimum 1.15x."

For FHA 223(f): "Tax-credit deals and HAP-contract deals will stay at the program’s current level of 1.1765x DSCR, but market-rate deals will be bumped up to 1.20x."

"The changes will be open for public comment once they are published on the Federal Register. And judging by the initial reaction of FHA lenders, there will be quite a debate between industry lobbying groups and the agency. The Mortgage Bankers Association is still studying the impact of the changes and gathering additional information on the rationale behind them, before it takes an official position."

Bombshell????? Looks like a minor change to reflect today's reality of dropping rent, higher vacancy, values down but stabilizing and lots of over leveraged bank deals to digest..
.......Scott

Commercial Mortgage Rate are near 5% for many loan products

2009-11-30T13:45:00.000-08:00

FHA 223(f) close to 5% small apartment loans slightly higher

FHA 232 223(f) near 5%

Small Apartment Loans Chicago

2009-10-03T14:07:00.000-07:00

Fixed Rate non-recourse small apartment loan program.

Loan Amounts: $750,000-$5,000,000
Baltimore, Boston, Chicago, Los Angeles, New York City, San Diego,San Francisco, San Jose (CA), Sacramento, Seattle, and Washington
Fixed Rate Balloon Loans: 5, 7, 10 and 15 year loan terms with up to 30 year amortization terms

Fully Amortizing Loans: up to 30 year terms
Pricing based upon Loan to Value and Debt Service Coverage
Maximum Loan to Value: 75%
Minimum Debt Service Coverage Ratio: 1.25x
Low upfront costs, Low loan fees

http://www.kendallrealtyadvisors.com/smallaptloan.html

FHA 223(f) Rates Apartment Refinance and Purchase Loans

2009-09-19T11:35:00.000-07:00

FHA 223(f) apartment refinance and purchase loans and FHA 232/223(f) refinance and purchase loans are about 5% plus MIP. 232 LEAN loans have slightly higher MIP.

Affordable Housing Projects Beginning to Receive Stimulus Funds

2009-09-11T15:12:00.001-07:00

Affordable Housing Projects Beginning to Receive Stimulus Funds

Shared via AddThis

New Construction Apartment Loan Waivers FHA 223(f) Revised

2009-08-03T09:27:00.000-07:00

July 29, 2009 Revised Temporary Waivers of three year rule for Section 223(f)

Property must have a Certificate of Occupancy (CO) dated no later than the date of the loan application. In other words, a waiver is possible for all new properties that are built and have a CO.

Happy Days are here again!

FHA 242/223F NEW Hospital Refinance Program

2009-07-07T10:26:00.000-07:00

Under a new FHA notice FHA now offers FHA 242/223(f) Hospital Refinances WITHOUT New Construction or Substantial Rehabilitation.

See FHA 242/223(f) Program

Cash Out Refinance Rules Fannie Mae Freddie Mac

2009-05-31T07:42:00.000-07:00

Cash out transaction using Fannie Mae and Freddie Mac are limited to around 65% LTV and debt service coverage is now 1.30 to 1.

Rates are still very good in the 5.5% + - range. FHA refinance 5.9% + -

Rates Moving up

2009-04-30T12:45:00.000-07:00

Treasury rates went up another 12 basis points today to 3.12% we where at about 2% in early 2009.

Update - 5-31-09, treasury rates hit new high of 3.74% before retreating back to 3.50% range as May 2009 comes to an end. FHA refinance rates near 5.25% plus MIP last week. Fannie Mae Freddie Mac rates in 5.50 % +- .

FHA 221(d)(4) or FHA 221D4

2009-03-10T03:16:00.000-07:00

The top apartment lending program available today is the FHA 221D4 program.

90% loan to cost

1.11 to 1 debt service coverage

40 years plus construction loan term

Non-recourse

Assumable

Check out the best lending program available today the FHA 221D4 new construction apartments.

Apartment and Healthcare Lenders

2009-02-21T09:49:00.000-08:00

Kendall Realty Advisors is pleased to announce our lending programs

FHA 223(f) Apartment Refinance

FHA 221(d)4 Apartment New Construction

FHA 232 Lean - Healthcare - Nursing Home - Assisted Living Facility

Conventional Loans

Small Nursing Home and Apartment Loans