Kendall Realty Advisors LLC

Kendall Realty Advisors LLC
National Affordable and Market Rate Rental Housing Lender

Sunday, June 27, 2010

FHA 223 F Rates FNMA Freddie Mac Apartment Loan News

FHA 223 F rates are near historical lows with the ten year treasury down to about 3.15%. Rates for 223 F loans are now under 5% for 35 year fixed rate loans.

FNMA and Freddie Mac are in the low to mid 5% range for larger deals and the FNMA small apartment loan rates are under 6%.

It is a good time to refinance your apartment or to lock into low rates on your apartment purchases.

FHA 221(d))(4) new construction rates are about 1.25 higher than FHA 223 F and many FHA offices are looking very closely at new deals to make sure the demand meets any new supply.

FHA 232 LEAN refinance rates are about 10 basis points higher than FHA 223 F apartment rates since they have additional MIP Mortgage Insurance Premium costs.

FHA 232 LEAN also has over 180 deals in the "QUE" or waiting to be processed so the turn around is about seven to eight months for refinance and over 12 months for new construction of assisted living or nursing homes.
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    About Us:

    Our knowledgeable team has worked in the mortgage banking/investment banking industry for the past 24 years specializing in healthcare lending, multifamily housing, FHA and FNMA insured loans. Throughout our careers, we have originated and/or underwritten in excess of $745,000,000 in mortgage loans with a focus on acute care hospitals, assisted living facilities, senior housing, and skilled nursing facilities. Previously our team has worked for several NY-based investment banking/mortgage banking firm specializing in conventional and government-assisted loans. Chuck has been president of a FHA mortgage company and a developer. Scott was the VP of Origination for several FHA and FNMA lenders. He has extensive experience working on affordable housing as the Midwest Loan Officer for FNMA Multifamily Affordable Housing Products. We understand that the integrity of the loan officer for the loan quote and rate pricing can make a huge difference for FHA clients.

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