| Apartment Loan - Freddie Mac - Fixed Rate Kendall Realty Advisors LLC- Chicago, IL Refinance and Purchase Loans |
Fixed-Rate Mortgages
Purchase or Refinance Apartments
Commercial Mortgages
ELIGIBLE PROPERTIES: Garden, mid-rise and high-rise apartments.
LOAN TERMS: 5, 7, 10, 15, 20, 25 or 30 years.
PREFERRED LOAN SIZE: $3 million and larger.
MAXIMUM LOAN TO VALUE: 80% Most 75% Cash Out 65%
MINIMUM DSCR: 1.25x
AMORTIZATION: Up to 30 years. Partial or full term interest-only periods may be available.
INTEREST RATES: Risk-based pricing.
PERSONAL RECOURSE: Non-recourse except for standard carve-out provisions.
TRANSFERS/ASSUMPTIONS: Allowed during the life of the loan subject to approval.
PREPAYMENT: Prepayable in full subject to yield maintenance.
SUPPLEMENTAL MORTGAGES: Available for qualifying properties.
ESCROWS: Monthly escrows for real estate taxes, property insurance and replacement reserves are
required.
APPLICATION FEE: Greater of $2,000 or 0.1% of the loan amount.
FINANCING FEE: Typically 1% of the loan amount.
CLOSING EXPENSES: Standard transaction costs, including legal, title insurance, survey, and appraisal,
environmental, and engineering reports.
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