Apartments continue to be the least difficult type of property to finance.
Below are today’s rates for select apartment loan programs.
Loans $2,000,000+
5/30 4.99% non recourse
7/30 5.47% non recourse
10/30 5.65% non recourse
70-80% LTV, cashout 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 ~$750,000 to $2,000,000+
5/30 5.38% recourse
7/30 5.80% recourse
10/30 6.10% recourse
70-80% LTV, cashout okay, 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 $500,000 to $2,000,000
3/30 6.25% recourse, low cost, soft prepay
5/30 6.75% recourse, low cost, soft prepay
We also have other options for low leverage loans, loans that don’t restrict secondary financing, no prepay, etc.
Brandon Rogers
Vice President, Shareholder
Terrix Financial Corporation
1777 S. Harrison St., Suite 301
Denver, CO 80210
303-757-7800 (ph)