FHA 223(f) Apartment Refinance and Purchase

Thursday, August 4, 2011

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: MB Bank becomes my Least favorite Bank In Chicago

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: MB Bank becomes my Least favorite Bank In Chicago

Friday, April 22, 2011

FHA 223(F) Rates

Apartment Lender Commercial Mortgage Rates FHA FNMA and SMALL Apartment Loans
Updated Apartment Loans Rate Chart

Thursday, April 14, 2011

Wednesday, April 13, 2011

Saturday, April 2, 2011

FHA 223(f) Multifamily Loan Rates 4.5% 35 years

FHA 223(f) Loans Rates 4.5% due to the AAA rating of the GNMA securities Loan amount $2,500,000 and up

This program offers the best rate available for apartment loans and allows for refinancing of debt up to 83.33% and cash out loans up to 75% of value. The process takes about five or six months depending on FHA office and cost a little more than FNMA and Freddie Mac for the reports and FHA exam fee ($3 per $1,000).

The borrower must also hold excess cash flow in an account and only withdraw excess cash flow every 6 months.  Annual Audits of income and expenses and balance sheets are also required.

The interest rates and term (35 years) are the main draw.  With FNMA and Freddie Mac Multifamily operations under Government control and their parent company destined for closure, FHA GNMA MBS securities have become the highest rated mortgage backed securities with the lowest rates.   

This program is not for everyone but for large apartment loans you currently save one or more percent over FNMA or Freddie Mac 10 year loans.

Friday, April 1, 2011

FHA 223 (f) Apartment Loan Rates Agency

 5% $3 M and up 35 yrs
Agency Multifamily Loan Rates 10 yr 5.80% - 7 yr 5.50%
Small Apartment Loan Chicago 5.95

Banks 5-6% 5 years