FNMA DUS Apartment Loan Rates are near historice lows

FNMA DUS Large Apartment Loan Rates are near historic lows.

Rates are in the low 5% range for fixed rate non-recourse commercial 10 year apartment loans. FNMA large loans are available nationally for owners seeking $5,000,000 or more, for the purchase or refinance of apartment complexes.

The Small Loan program for loans under $5,000,000 is a great program for borrowers looking to lock in low rates for ten years. Rates for small loans are around 5.5% fixed for ten years. These loan are for properties of 5 or more units with loans from $750,000 to $5,000,000 in the Chicago area.

Small Loans FHA 223 F Rate Update

The FNMA Small loan program for Chicago is working well. Rates are in the high 5% and loans are closing in about 60 days from start to finis. The loan application cost is only $4,500 for all reports.

FHA 223 F rates have dropped below 5% all in for 35 year fixed rate loan these transactions take at least 4 months to process and the application fees run closer to $20,000 for most transactions plus FHA's application fee.

FHA 223(f) Apartment Refinance Rates

FHA 223(f) apartment refinance rates are about 5% plus .45% MIP.

FHA is now accepting waiver requests for new construction take out loans.

The property needs a certificate of occupancy and should have good occupancy for loan amount purposes.

FHA 223 f, FHA 221 D4 and Conventional Loan Programs

We offer all the long term fixed rate loans programs available in this market.

Call Scott at (847) 903-7578 or Chuck at (773) 259-7074

Conventional Loans Program FHA Loans

Charles Kendall is pleased to announce our conventional apartment loan program. Kendall Realty Adisors is now a correspondent for conventional lenders offering fixed rate apartment loans with LTV up to 80% fixed and floating rates and spreads between 250 and 300 basis points.

Please contact Scott Kendall VP at (847) 903-7578 or Charles Kendall (773) 259-7074