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March 01, 2016
And how do they differ from residential mortgage rates? We will also be looking at terms, because terms work so closely with rates.
Commercial property rates work quite differently from residential property rates. Generally with commercial property rates, the higher the number of years of a loan, the higher the interest rate, while with residential property rates, the higher the number of years of a loan equals a lower interest rate.
December 17, 2014
Last week, this blog was about 5 reasons why the Fannie Mae apartment loan is the best in America. If you are in the market for apartment loans, you need to be familiar with the Fannie Mae program.
There are so many multifamily investors who don’t know about the Fannie Mae program. Many of them use banks only and are not aware of this great program.
The second part of this blog is about how to qualify for a Fannie Mae loan.
But first, here is a summary of last week’s blog:
September 30, 2014
This is part 3 of a series in How to Submit Your Loan Information for an Apartment Loan.
We began the series by explaining that when you send your apartment loan information to a lender, you need to send it in the form of a good presentation. The information needs to be presented in such a way that you sell the lender on giving you a loan. Specifically you want the lender to see that the strengths of your property and the strengths of your finances are sufficient for a loan.
September 19, 2014
Apartment financing is similar but also quite different to taking out a loan on a residential home. Any property with more than five units is considered commercial with its own underwriting and funding criteria. Here is what you need to know before applying for apartment financing.
September 17, 2014
Last week’s blog had Part 1 on How to Submit Your Loan Information for an Apartment Loan. It started out with explaining that the process involves more than just sending in some information as if you were completing a form. It actually involves sending in information for a presentation. The file you send in has a major purpose of selling a lender on why they should want to give you a loan on your property.
August 13, 2014
One of the questions you will be asked in inquiring about getting an apartment loan is how much experience you have in apartment complex ownership. For many types of situations involving multifamily loans, you are required to have experience in multifamily ownership. In some multifamily loan situations you are not required to have experience in multifamily ownership.