Sunday, September 18, 2011

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

The Process - These loans have a process and they require good documentation. A commitment or rate lock will not happen until all the reports are in and all of the underwriting is complete. Once the commitment is issued, a rate lock and closing can be done quickly. If a loan does not fit the program an application will not be issued.

We will review some basic information about the properties historical income and the borrower's financials situation and then issue a quote. If the borrower likes the quote they will receive and sign the application and send the application deposit. The appraisal and other reports will be ordered. Once the reports are in and the borrower has submitted all the required documentation, the commitment will be issued. The borrower documents include organizational documents, personal financial statements, copies of bank statements, real estate schedules, property income and expense statements, rent roll, copies of leases as well as other forms.

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

Wednesday, September 7, 2011

Crowd hears Orland park plan for apartment building - The SouthtownStar


David Flaherty, CEO of Flaherty & Collins, listens during Tuesday night’s public hearing at Orland Park Village Hall concerning the Main Street redevelopment project at 143rd Street and LaGrange Road.

In this SWEETHEART DEAL ORLAND PARK gives $24 MILLION in INCENTIVES on $60 Million INVESTMENT - Indianapolis Owner invests $1 million and the CITY becomes the COMMERCIAL REAL ESTATE LENDER

The financial deal, which the village board is expected to vote on at its Sept. 19 meeting, includes a $38 million loan to Flaherty and Collins, with Orland Park providing another $24 million as an incentive to the company. The developer is putting up $1 million of its own money plus another $1 million in fees.

The most controversial aspect of the proposal is that the village will cover initially all but about $1 million of the $63 million project by taking out a line of credit at a bank and selling bonds — putting itself at considerable financial risk if the apartments are not successful.

Tuesday, September 6, 2011

#Apartment #Loan #Rates hit new #lows.

Apartment, lender, FHA 223 f - FNMA commercial mortgages best service/rates JV 30 years in commercial RE Kendall Realty - Apartment Loans

The yield on the benchmark ten-year note hit a record intraday low of 1.929% today.
Despite ending the session well off its lowest levels of the day, the ten-year yield still set at a new record closing low of 1.97%. This is the first time it has broken 2% since the 1950's.

Friday, August 12, 2011

Apartment Loan Chicago

Kendall arranges $2,100,000 first mortgage on Glenlake Apartments. The property was original rehabbed at a cost of close to $5,000,000 but the condo lender Private Bank discounted the loan by $1,000,000 and released another $500,000 from the property loan.

The borrower was given 12 months to receive a discounted pay-off by the original condominium construction lender. Several banks declined the loan but Kendall was able find a lender for the borrower even if he had very high leverage.

Kendall arranged a loan and it closed within two month from the signing of the bank agreement.

The loan is fixed for 3 years at 5%.

Friday, May 20, 2011

Second City Citizens - Let's Stay In Tonight

Second City Citizens
New Hip Hop Band will be playing at Cubbie Bear Wriggleyville

Friday, February 18, 2011

Rates Apartment Loans Assisted Living

Apartment Loans
We have several bank lending programs available for Chicago, WI, MN and IN.

FNMA DUS rates back up to about 5.85% for ten years The small apartment loan runs about 6.10% for ten years.

FHA 223(f) holding steady near 5% 35 years $3 million min.

Healthcare Assisted Living Nursing Home

FHA 232 223(f) just over 5% for 35 years.

FHA 242 Hospital Refinance 5.85% 25 years

Freddie Mac Fannie Mae Multifamily Finance Headline Animator

Commercial Mortgage - Apartment - Healthcare

Commercial Mortgage