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.

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

Multifamily Finance Programs

WE OFFER THE FOLLOWING PROGRAMS

APARTMENT LOANS

FHA NEW CONSTRUCTION 221D4

REFINANCE OR PURCHASE 223(F)

FHA 232 ALF NURSING HOME

FHA 242 HOSPITAL FINANCING