FHA APARTMENT LENDER FANNIE MAE - FREDDIE MAC - HEALTHCARE and HOSPITAL LOANS

FHA APARTMENT LENDER FANNIE MAE - FREDDIE MAC  - HEALTHCARE and  HOSPITAL LOANS
232 LEAN - APARTMENT NEW CONSTRUCTION - REFINANCE - National AFFORDABLE MULTIFAMILY HOUSING LENDER

Friday, January 30, 2009

FHA 232 LEAN and Apartment Lending

FHA Apartment Loan Program going strong rates for GNMA 35 year 223(f) 232(f) GNMA still under 6%.

The FHA 232 LEAN program has closed at least 5 or 6 loans. The process is much faster but the new appraisal rules have reduced the loan amounts from pre-lean levels. The program still offers the best loan to values for owners not looking to cash out, and wanting to lock into long term debt, with 75% to 80% loan to values. The FHA 232 Lean New Construction is preparing for new loan applications under process with the lenders.

The underwriting guidelines are due out in March with the new debt service coverages and loan to value recomendations. Under LEAN the loan will based on the lenders recomendation of loan sizing after reviewing all information the on the transaction, the sponsor and the management.

The loans will be processed faster, and deals that are not over-leveraged, poorly managed, and that have strong sponsors will be funded.

Scott and Chuck Kendall have been financing FHA Healthcare and Multifamily loans since 1985.

Commercial Mortgage - Apartment - Healthcare

Commercial Mortgage

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