It’s 2010 ……..
Do You Know Where Your
Commercial Mortgage Money Is?
While it is true that the Commercial Mortgage Industry has gone through unprecedented changes over the past several years – there is still great commercial capital out there for almost every type of income property. The trick is knowing WHERE the current sources of the best commercial capital are, AND knowing HOW commercial properties are being underwritten currently.
The Rules Have Changed!
Do YOU know what the new RULES are for financing Commercial Properties? Not knowing how commercial properties are being underwritten today could cost you thousands of dollars and countless hours of your time.
If you are serious – really serious about protecting your commercial real estate investments given the current chaotic market conditions – you had better know more than just what current interest rates are for commercial real estate mortgages.
We Know Where the Money Is
We Know How to Get Transactions Done!
If you need new commercial income property financing – it is more important that ever to work with a mortgage company that really, really understands what is going on in the industry and can help you through the pitfalls of what has now become commercial income property financing.
In spite of the industry-wide chaos, American Commercial Mortgage Network is as busy as we have ever been. There are great sources of capital available at historically low rates. If you have a financing transaction that fits the new lender profile, this is truly a great time to be looking for commercial income property financing.
Here is a very brief look at some of the transaction our firm is involved with:
- New financing for a 75 unit Northwest apartment property – 10 year fixed year of 5.34%.
- Purchase money financing for a new Walgreen’s store – a 25 year fixed, fully amortizing loan program.
- Construction financing for a 400 room Student Housing project located on a major university campus.
- Cash out refinance ($3M cash back) of a 170 unit Northwest apartment property – adjustable rate financing starting at 4.2%.
- A host of small balance ($3M and under) apartment property refinances – all with 10 year fixed rates in the 5% range.
2010 Should Be Better than 2009…
But…
Interest Rates are going to be Higher!
All of the “experts” in the commercial mortgage industry are predicting that 2010 should be somewhat better than 2009 in terms of market activity and lenders stepping gingerly back into the market. BUT – virtually all agree that at some point, interest rates available to income property investors are going to have to go UP. Many see standard 10 year fixed rate financing for traditional apartment properties rising to as high as 7.5% by year end, with rates for other commercial property types even higher.
If you have an income property financing property that needs financing now, or will at some point during 2010, I would urge you to start the financing process as quickly as you can to take advantage of the current interest rate environment.
Please feel free to call me directly with any questions you may have about commercial income property financing. I would welcome the opportunity to discuss the current financing markets in more detail with you.
My direct private phone number is (206) 979-4259.
All the Best for 2010.
