Kendall Realty Advisors Loan Program

Sunday, September 18, 2011

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

The Process - These loans have a process and they require good documentation. A commitment or rate lock will not happen until all the reports are in and all of the underwriting is complete. Once the commitment is issued, a rate lock and closing can be done quickly. If a loan does not fit the program an application will not be issued.
We will review some basic information about the properties historical income and the borrower's financials situation and then issue a quote. If the borrower likes the quote they will receive and sign the application and send the application deposit. The appraisal and other reports will be ordered. Once the reports are in and the borrower has submitted all the required documentation, the commitment will be issued. The borrower documents include organizational documents, personal financial statements, copies of bank statements, real estate schedules, property income and expense statements, rent roll, copies of leases as well as other forms.

Thursday, September 8, 2011

Apartment Lender Apartment Loan Pricing


Wednesday, September 7, 2011



David Flaherty, CEO of Flaherty & Collins, listens during Tuesday night’s public hearing at Orland Park Village Hall concerning the Main Street redevelopment project at 143rd Street and LaGrange Road.

In this SWEETHEART DEAL ORLAND PARK gives $24 MILLION in INCENTIVES* on $60 Million INVESTMENT - Indianapolis Owner invests $1 million and the CITY becomes the COMMERCIAL REAL ESTATE LENDER

The financial deal, which the village board is expected to vote on at its Sept. 19 meeting, includes a $38 million loan to Flaherty and Collins, with Orland Park providing another $24 million as an incentive to the company. The developer is putting up $1 million of its own money plus another $1 million in fees.

The most controversial aspect of the proposal is that the village will cover initially all but about $1 million of the $63 million project by taking out a line of credit at a bank and selling bonds — putting itself at considerable financial risk if the apartments are not successful.*

Deal Structure: Orland Park corporate guarantee to bank - Bank Letter of Credit., bonds rated sold by investment banker money used for both incentives and construction loan. Risk 1, completion 2. loan repayment 3. $24,000,000 incentive unpopular with citizens - city leaders sacked.

Tuesday, September 6, 2011

#Apartment #Loan #Rates hit new #lows.

Apartment, lender, FHA 223 f - FNMA commercial mortgages best service/rates JV 30 years in commercial RE Kendall Realty - Apartment Loans

The yield on the benchmark ten-year note hit a record intraday low of 1.929% today.
Despite ending the session well off its lowest levels of the day, the ten-year yield still set at a new record closing low of 1.97%. This is the first time it has broken 2% since the 1950's.

Chicago Apartment Commercial Mortgage

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