Happy St. Patrick’s Day-
Due to recent world events we are seeing a reduction in rates as treasuries are down quite a bit.
Below are today’s rates for select apartment loan programs – all loans are a case-by case basis.
Loans ~$3,000,000+
5/30 4.52%
7/30 5.12%
10/30 5.49%
75-80% 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+
5/30 4.78%
7/30 5.37%
10/30 5.67%
75-80% LTV, cashout okay
for less than 65% LTV and 1.35+ DCR – subtract ~20 bps and non-recourse may be available
Small Apartment Loans – ~$750,000 – $2,000,000
3/30 4.5%
4/30 5.0%
5/30 5.375%
7/30 6.50%
10/30 6.875%
75% LTV, step down prepay
In the last 12 months we closed apartment loans ranging from about $1,000,000 up to $18,000,000 with Agency lenders, banks and life companies.
We also have other options for low leverage loans, loans that don’t restrict secondary financing, no prepay, etc.
The loan programs above are also available for high quality mobile home parks (add 5-10 bp to the rate, however).
Please call me with your financing needs.
Brandon Rogers
Principal
Terrix Financial Corporation
1777 S. Harrison St., Suite 301
Denver, CO 80210
720-880-5122 (direct)