FHA232/223f LEAN Refinance
FHA 232 New Construciton
FHA 242/FHA 223(f) Hospital Refinance NEW
Apartment Loan Programs
Tuesday, April 30, 2013
Wednesday, March 20, 2013
Wednesday, March 6, 2013
Owners of multifamily, nursing homes, assisted living facilities, and hospitals have long preferred traditional bank lenders over FHA-based financing. The usual reason is the difficulty and frustration of dealing with FHA versus the relative ease of dealing with sophisticated lenders. Due to the changes from the real estate market crash, the wave of bank consolidations, and the reluctance of the remaining banks to return to lending, owners should reexamine their traditional views of FHA financing.
Traditional financial institutions no longer securitize senior multifamily and health care loans, thereby eliminating the availability of conduit financing for these projects. We have not yet seen the end of the foreclosure crisis and if banks incur addition losses, bank financing for these types of projects will be almost impossible to obtain.
FHA, on the other hand, has improved its process dramatically. FHA-based financing has always offered several significant advantages over traditional bank and conduit lending sources if one was willing to deal with the red tape. Much of that red tape has now been removed or streamlined and programs to finance hospitals have been added. The most obvious advantage to FHA is continued credit availability that is unaffected by the subprime fiasco. Additional advantages are lower fixed rates, nonrecourse loans, and long-term fully-amortizing debt.
FHA loans do not contain the numerous covenants contained in traditional lending documents and specifically do not contain a debt service coverage requirement. As markets evolve and Medicaid and Medicare reimbursement methodologies are revised, a manager’s ability to maintain a stable and predictable debt service coverage is continually challenged. FHA-based financing will prove especially valuable.
Charles Kendall 773-259-7074
Scott Kendall 847-903-7578
Posted by C Kendall at 11:19 AM
Wednesday, May 30, 2012
RECORD LOW APARTMENT LOAN RATES
As rumors of LEFTIST gaining popularity in Greece over REVOLT OVER AUSTERITY
everyone buys US currency and stashes it in their pillow. THE normal suspects go down as dollar gains in value oil, interest rates and stocks go down on fright to safety moves
Posted by Scott Kendall at 9:06 AM
Thursday, May 24, 2012
APARTMENT LOAN RATES LINK
Despite a generally flat March for pricing of commercial property, prices recovered to mid-2003 levels in the first quarter as improving fundamentals and liquidity causing a broadening of the recovery into non-core commercial real estate and secondary markets, according to this month's CoStar Commercial Repeat Sale Indices (CCRSI) report.
At this rate it will be 2006 in ten short years. Oprah sells her Chicago condo for about 1/2 of what she paid. say $3,000,000 on $6,000,000 cost plus extra shoe closets.
Posted by Scott Kendall at 8:17 AM