From Terrix Financial:
Fannie Mae rates are up slightly – but still very good. They have been up and down inside a fairly narrow window over the past few months.
Below are rates from various programs – we have some good options for apartments.
For $500,000 to $2,000,000:
3/30 6.0%
5/30 6.375%
7/30 6.75%
Up to 80% LTV on purchases up to $1,500,000 loan
75% LTV for loans greater than $1,500,000
They might go above $2,000,000 on low leverage loans
Low lender costs – only $1700 – $2700
Full Recourse
1.20 DCR
Step-down prepay, bank process
Another Lender we have will do 5/25 (no balloon) at 6.0% to 6.25%
75% LTV max
small prepay
~$1,000,000 to $3,000,000
5/30 from 5.53% – 5.63%
7/30 from 5.75% – 5.85%
10/30 from 5.73% – 5.83%
SUBTRACT ~30bp for 55% LTV, 1.55 DCR
up to 80% LTV, subject to 1.25 DCR
Lenders costs range from about $8,000 to $13,000
Fannie Mae, yield maintenance prepay
Full Recourse
In conjunction with an assumption, co-terminous Fannie Mae seconds at market rates can be used to leverage the property back up at time of sale
Non-recourse may be available – call for details.
$3,000,000+
5/30 from ~5.35%, 70% LTV, 1.30 DCR
7/30 from ~5.55%, 75% LTV, 1.25 DCR
10/30 from ~5.55%, 80% LTV, 1.20 DCR
Floating rate with lifetime capped rate from 4.0% to 4.5%
Fannie Mae
Non Recourse
Yield maintenance prepay
In conjunction with an assumption, co-terminous Fannie Mae seconds at market rates can be used to leverage the property back up at time of sale
Please call me for your financing needs.
Brandon Rogers
Vice President, Shareholder
Terrix Financial Corporation
1777 S. Harrison St., Suite 301
Denver, CO 80210
303-757-7800 (ph)
brogers@terrix.com
www.terrix.com