Fannie Mae
Fannie Mae Fixed-Rate Apartment Loans offer competitive interest rates and flexible loan terms to purchase a variety of eligible properties. These loans are mostly non-recourse 아파트담보대출 and fully assumable with lender approval. The loan amounts can range from $750,000 to $1.5 million. If you have a poor credit score, this type of mortgage may not be the best option for you. However, with the right financial plan, you can still purchase an apartment and benefit from competitive loan terms and low interest rates.
Freddie Mac
Freddie Mac offers multifamily loans for investors looking for affordable apartment finance. This government-sponsored agency purchases loans from lenders, and they are one of the most popular forms of apartment financing. Depending on your property, you can choose between fixed-rate and adjustable-rate mortgages. These fixed-rate loans have an amortization period of five to ten years and are non-recourse. In addition, they have flexible terms, including interest-only payments and up to ten years of fixed-rate mortgages.
Life insurance companies
Many of the nation’s largest life insurance companies offer mortgages, and this type of financing can be a great alternative to Freddie Mac and Fannie Mae. In addition to offering longer terms, these companies also offer competitive interest rates. While they are not as competitive as Fannie Mae or Freddie Mac when it comes to leverage and cash-out refinancing, they do offer the best financing available on larger balances. One of the reasons for this is that these companies are very selective in the loans they finance, and focus on only the highest quality assets.
HUD/FHA
With HUD/FHA fixed rate apartment loans, you can purchase a property without paying interest on the loan. As long as you meet certain criteria, these loans are easy to obtain. They typically require only a single third-party report. Once approved, these loans can close within two months. You can also choose to get a lower rate with this loan option. Whether you plan to sell your property soon or hold onto it for a while, HUD/FHA fixed rate apartment loans are a great option.
Select Commercial Funding LLC
A mortgage consultant firm based on Long Island, NY, Select Commercial Funding LLC offers nationwide commercial mortgage lending and multifamily loan programs. The company provides loans for single-family rental properties, multifamily properties, and 1031 exchange transactions. These loans are tailored to fit the individual needs of clients, ranging from first-time buyers to those with experience in commercial real estate. Select Commercial Funding LLC offers fixed rate apartment mortgages, second mortgages, and other commercial property financing solutions.
Class A apartment construction loan
A private lender, Arriba Capital, has closed a $22.5 million stretch senior ground-up construction loan on a 105-unit Class A apartment property in Nashville. The property includes retail space that will add an additional 2,500 square feet. The lender has financed several construction projects for the borrower, a privately-held development group in Nashville. It has also been successful in providing construction financing to multiple commercial properties. The lender’s underwriting is single-minded until the deal is closed.
FHA 221d4 apartment construction loan
If you’re building an apartment complex, an FHA 221d4 construction loan is a great option. These loans are backed by the HUD/FHA and provide long-term, fixed-rate financing. These loans are asset-based and driven by market econometrics. However, they can be difficult to obtain, and can be frustrating for the borrower. To help avoid these difficulties, here are some things to keep in mind.
30 year treasury yield plus a margin
CMT rates are published by the Federal Reserve in Statistical Release H.15, but the Treasury does not publish weekly, monthly, or annual averages. However, you can find these rates by using the Board’s Data Download Program. These averages are based on yields available for the three days in the survey week. However, you should always check with your lender to ensure that the rate quoted by your lender is competitive with the current market rate.