FHA 223 F under 4% 35 years fixed no balloon!

Apartment loan rates have moved down and now FHA 223(f) 35 year loans from $2,000,000 and up are under 4% fixed and Small apartment Loans from $750,000 to $5,000,000 are well under 5% fixed for up to ten years. This is due to the "TWIST" action by the FED and the EU currency crisis with Greece on the verge of certain default.

This programs is for owners of a few properties with good credit. Cash out loans up to 75% Purchase and no cash out loans up to 80%.

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Apartment Lender Commercial Mortgage

FHA 223(f) Multifamily Loan Rates 4.5% 35 years

FHA 223(f) Loans Rates 4.5% due to the AAA rating of the GNMA securities Loan amount $2,500,000 and up

This program offers the best rate available for apartment loans and allows for refinancing of debt up to 83.33% and cash out loans up to 75% of value. The process takes about five or six months depending on FHA office and cost a little more than FNMA and Freddie Mac for the reports and FHA exam fee ($3 per $1,000).

The borrower must also hold excess cash flow in an account and only withdraw excess cash flow every 6 months.  Annual Audits of income and expenses and balance sheets are also required.

The interest rates and term (35 years) are the main draw.  With FNMA and Freddie Mac Multifamily operations under Government control and their parent company destined for closure, FHA GNMA MBS securities have become the highest rated mortgage backed securities with the lowest rates.   

This program is not for everyone but for large apartment loans you currently save one or more percent over FNMA or Freddie Mac 10 year loans.