Richmond Ridge Townhomes

In 2021 post pandemic commercial mortgage rates hit an all-time low, which prompted the borrower to take advantage of this historically low interest rate of 3.50% offered by a national credit union.

Loan terms were 75% LTV, fixed rate for 10 years (balloon of 10 years) and 30-year amortization.  As with most credit unions this loan has no early prepayment penalty.  Escrows for property taxes and insurance were not required either, which gave the borrower even more control over his cash flow.

The Carlisle Apartments

This was a Freddie Mac nonrecourse permanent fixed rate acquisition loan.

Loan terms: 75% LTV, fixed rate of 4.38%, 10 yr term (balloon), 30 yr amortization, I/O for 3 yrs, declining prepayment penalty 5544332211, no monthly escrows except for Real Estate Taxes and no holdbacks. No Phase I ESA is required.

Loan was funded in 63 calendar days from the day the Loan Application was signed.