Below are today’s rates for select apartment loan programs – all loans are a case-by case basis.
Loans ~$3,000,000+ (DUS Fannie)
5/30 4.81% non recourse
7/30 5.46% non recourse
10/30 5.76% non recourse
70-80% LTV, cash-out okay, non recourse, assumable, can do supplemental financing in future to leverage back up for a buyer (combined with the assumption this avoids the prepay penalty)
Subtract ~20 bps for less than 65% LTV and 1.35+ DCR
Loans ~$1,000,000 to $3,000,000+ (Small Fannie program)
5/30 5.20% recourse
7/30 5.75% recourse
10/30 6.14% recourse
70-80% LTV, cashout okay, non-recourse is available
for loans less than 65% LTV and 1.35+ DCR – subtract ~20 bps
*Loans under $1,000,000 may be available and would be priced slightly higher
Loans $500,000 to $2,000,000
3/30 6.25% recourse, low cost, soft prepay after 12 months
5/30 6.75% recourse, low cost, soft prepay after 12 months
Strong loans (i.e. low leverage and/or stronger borrower) over $1,000,000 may get better pricing
Even more competitive loans on other “Agency” loans above ~$8,000,000 – capped floating or fixed rates, etc.
We also have other options for low leverage loans, loans that don’t restrict secondary financing, no prepay, etc.
The above Fannie Mae programs are also available for high quality mobile home parks (add 5-10 bp to the rate, however).
Brandon
Brandon Rogers
Vice President, Shareholder
Terrix Financial Corporation
1777 S. Harrison St., Suite 301
Denver, CO 80210
303-757-7800 (ph)