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.

FHA 223(f) New Construction Waiver of Three Rule Apartment Loans

On February 17, 2010 the waiver of the three year rule for new construction was extended for one year.
This applies to only apartment loans under FHA Section 223(f) refinance and purchase of existing occupied apartment buildings.

For the complete letter: FHA 223(f) Waiver Extension

FHA 223(f) Loan rates have been in the low 5% for thirty five years for the past month, FNMA and Freddie Mac Loans have been closer to 6% for ten years.

FHA, Fannie and Freddie Mac Apartment and Healthcare status of programs

FHA rates for 223(f) loans are moving up into the high 5% range from the low 5% range.

FHA 221(d)(4) New construction has remained in a range of 1.25% to 1.5% over the 223(f) permanent rates

FHA 223(f) is now allowing new construction waivers for properties completed in mid 2008 or before.

FHA 221)d)(4) new construction should only be considered in very tight rental markets.

Affordable Housing is FHA's mission and will processed faster per FHA letters.

FHA 242 going strong great program

Affordable and Market Rate Multifamily Housing Lending

Kendall Realty Advisors specialize in affordable rental housing loans.

FHA, Fannie Mae and Freddie Mac National Affordable Housing Lenders.

Credit enhancement of tax-exempt bonds with FHA, Fannie Mae and Freddie Mac.

New construction loans with FHA,

NEW
Equity to close can be provided in Installment Payments for tax-credit transactions.

Non-profit 501(c)3 Apartment financing also available using FHA 223(f) and FHA 221(d)(4).

FHA 223(f) New Construction Waivers

FHA is now providing waivers for permanent loans on recently completed apartment buildings

Contact Kendall Realty Advisors for more information on this program.

Fannie Mae Freddie Mac Loan Rates

Fannie Mae and Freddie Mac are currently lending up 75% for cash out refinance and 80% for purchase transactions.

The loan rates are approximately 250 over ten years treasuries or 5.5% this is in line with expectations that we reached a bottom on loan rate earlier in the year.

Deals are now priced on size, location, market and several other variables.

Contact Kendall Realty Advisors for more information.

We also provide Affordable Housing Loans and Healthcare Facility Financing