|
Commercial Lending News
The Top 3 Questions We Are Asked Daily
1. Is there Commercial Mortgage Money Available for MY Project?
YES - Commercial mortgage money for existing income properties IS available. While the number of capital sources has dwindled over the past two years - there are still nationally recognized lenders with capital to lend. Financing is available and WE ARE closing commercial loan transactions.
2. Are interest rates still COMPETITIVE?
YES - Despite the recent up-tick in treasury yields, interest rates for commercial income property loans are still near historic lows. Fixed interest rates can start as low as 5.00% for apartment and mobile home park properties. HOWEVER - no-one expects these lower rates to last much longer.
3. Is financing still EASY to get?
NO - The commercial mortgage industry today is much, much different than it was even 2 short years ago. Fundamental changes in underwriting requirements have been instituted by virtually all lenders still in the market, making the loan process more cumbersome and uncertain. HOWEVER, this is where our 25 + years of experience is paying off for our clients. Our firm has kept up with the changes in the industry. We have the capability of analyzing a commercial transaction VERY, VERY quickly to determine if it is something that can be done in the current lending environment.
Outlined below are interest rates available for multifamily and commercial income properties as of TODAY. These are the "best case" rates and are based on the strength of the entire transaction. These rates represent a host of wholesale lenders we correspond with nationwide.
APARTMENTS/MOBILE HOME PARKS
Portfolio Fixed Rates: Starting at 5.750%
Agency Fixed Rates: Starting a 5.500%
OFFICE/MIXED USE/RETAIL/OTHER
Portfolio Fixed Rates: Starting at 6.20%
CALL FOR A QUOTE
1-800-265-3860 Toll Free
|