Terrix Apartment Financing Rates 11/23/09

Just Closed!
$3,000,000
5.99% fixed, 10/30 term
Non recourse
$500,000 cash-out
100% student Housing in Boulder
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Today’s rates are -LOW-

Apartments are still the least difficult type of property to finance.
Below are today’s rates for select apartment loan programs – all loans are a case-by case basis.

Loans ~$2,000,000+ (DUS Fannie)
5/30 4.70% non recourse
7/30 5.27% non recourse
10/30 5.52% 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+ (3Max Small Fannie program)
5/30 5.06% recourse
7/30 5.55% recourse
10/30 5.79% recourse
70-80% LTV, cashout okay
for loans less than 65% LTV and 1.35+ DCR – subtract ~20 bps and non-recourse is available on a case-by-case basis
*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