FHA FANNIE MAE FREDDIE MAC APARTMENT LENDER FHA 223 F Multifamily Finance: NMA small apartment loans are now running at close to 6% for ten years.

Apartment Refinance FHA 232 LEAN Lender - Freddie Mac - Fannie Mae

Apartment Refinance FHA 232 LEAN Lender - Freddie Mac - Fannie Mae
MARKET RATE AND AFFORDABLE MULTIFAMILY HOUSING LOANS

Thursday, December 30, 2010

NMA small apartment loans are now running at close to 6% for ten years.

FNMA small apartment loans are now running at close to 6% for ten years.

Apartment Loan rates have risen in the last month with rising US treasury rates.  The ten year treasury is now at 3.40%, from its low near two percent a few months ago.

FHA 223 F rates have risen the least since they are wrapped with GNMA insurance and are rated AAA. FHA 223 F loan can still be locked below 5% for a 35 year loan.

FNMA and Freddie Mac rates have risen more since there is uncertainty of their future credit rating when the government stops backing them up.  Currently large apartment loan rates are about 5.45% for Seven Years and about 5.90% for ten year loans.

Several clients have reported bank quotes of 50% to 60% loan to value and twenty year amortizations, offered by several large Midwestern regional banks. The loan amount is often to low compared to the 80% of purchase allowed by FNMA and FHA.

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Kendall Realty Advisors LLC

Chicago, IL

Evanston, IL

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