Lower Interest Rates for Apartment Loans:
In the past few weeks we have seen a significant decrease in interest rates for apartment loans from Freddie Mac, Fannie Mae, FHA/HUD and the CMBS markets. Checkout the new lower interest rates for apartment loans at: Commercial Loan Rates.
What are basics that can impact the final pricing for an Apartment Building Loan?
Freddie Mac Small Balance Program has lower pricing for what they identify as Top Markets, Standard Markets, Small Markets and Very Small Markets. They have seen rates fall 28 basis points in recent weeks, read this article for more details: Freddie Mac Lowers Rates
Freddie Mae also has different pricing for different regions of the nation. Below find a list of the major metropolitan areas in either the Top or Standard Markets:
@1.20x DSCR, *please contact originator for full list by City/County:
New York, Boston, Washington, Chicago, Los Angeles, Orange County, San Francisco, San Jose, San Diego, Minneapolis, Portland, Seattle, Miami, Denver, Dallas, Sacramento
@1.25x DSCR, *please contact originator for full list by City/County: Baltimore, Salt Lake City, Phoenix, Atlanta, St. Louis, Indianapolis, Cincinnati, Albany, Bakersfield, Birmingham, Dayton, Hartford, Jacksonville, Knoxville, Louisville, Providence, Raleigh, Rochester, Richmond, Riverside, Tucson, Honolulu, Norfolk, Kansas City, Las Vegas, Philadelphia, Charlotte, Columbus, Cleveland, Oklahoma City, Pittsburgh, Memphis, Nashville, Houston, San Antonio, Austin, Richmond, Albuquerque, New Orleans, Orlando, Tampa, Detroit, Milwaukee, Tulsa, Buffalo, Omaha, Fresno.
Next what region your property is in will have further impact to the loan pricing. For example, everything else being equal you will have lower pricing for a property in California than a property in South Dakota. Below shows the States clustered be Region:
- West (W): AK, AZ, CA, HI, ID, NV, OR, UT, WA
- North Central (NC): IA, IL, IN, KS, KY, MI, MN, MO, ND, NE, OH, SD, WI
- South Central (SC): CO, MT, NM, OK, TX, WY
- Northeast (NE): CT, DE, MA, ME, NH, NJ, NY, PA, RI, VT
- Southeast (SE): AL, AR, DC, FL, GA, LA, MD, MS, NC, SC, TN, VA, WV
Work with Caffrey & Company LLC to find the best loan for your Apartment Building or Apartment Complex loan.
Mike Caffrey – Mike@CaffreyLoans.com Phone: (913) 402-7077