90% LTV on Apartment Complex? - Posted by Nichol

Real Estate Investing Real Estate Financing
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Posted by Cobra on April 16, 2007 at 16:03:30:

Please e-mail some details-I have several lenders that get you 100% or very close-thanks-Cobra

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90% LTV on Apartment Complex? - Posted by Nichol

Posted by Nichol on April 15, 2007 at 20:20:27:

24 units, solid rental income (section 8), NOI is currently $231,000 in a growing area in a major city in the Northeast.

I know residential mortgages have gone all topsy turvy… but is there still a possibility of getting a 90% LTV on a commercial loan? What are the rates for that sort of thing? I’m hearing some other buyers who are getting 6.5% but a few mortgage brokers we’ve used in the past swear that we’re going to have to pay upwards of 9% and even 10%.

If any lenders / brokers think they have something to offer, feel free to let us know via e-mail @ AARealEstate@gmail.com and state ALL the terms of what you have to offer. We appreciate your time.

Thanks!

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Re: 90% LTV on Apartment Complex? - Posted by MattG

Posted by MattG on April 16, 2007 at 12:17:39:

Nichol-
Need to understand Loan-To-Value(LTV) The higher the risk the higher the rate. The guys that are getting better rates are generally under 70% LTV, over 2 million and conduit loans.
AT 90% you will pay upwards of 8.75% on 10/25.thats assuming everything is straight.

Best Regards

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Re: 90% LTV on Apartment Complex? - Posted by Nichol

Posted by Nichol on April 16, 2007 at 12:27:17:

Thanks for the info. I usually go for the residentials so this is my first big one. I’m used to 100% loans.

Thanks!