Commercial Real Estate Loan Rates Remain Low
Dallas, TX (PRWEB) February 8, 2006
Two, Five, Seven and Ten Year fixed rates are available with 25 and 30 year amortizations. The two-year rates are by far the most reasonable due to the heavy trading in the treasuries. Many predictions show the Treasury Rates staying flat for the next two years.
For example, an office building loan refinanced with a $ 2.7 million commercial mortgage loan can be fixed in the low 6′s. The Glass Office Building which is located in Charlottesville, Virginia was funded on January 26, 2006 as a ten year fixed real estate loan.
Matrix Mortgage International provides apartment loans, senior housing loans, shopping centers loans, office buildings loans, industrial and hotel loans. Self-storage and mobile home parks loans are also included in our underwriting. Real estate investments and owner occupied properties are both acceptable finance categories.
A borrower can follow these guidelines to submit his loan directly:
1 – Provide current rent roll if applicable. This document should include:
Full Address of the Property
Unit Number
Tenant Name
Current Rent
Square Feet
Market Rent
Original Occupancy Date
Lease Expiration Date
2 – Provide last year’s Net Operating Income Statement and the current year YTD
3 – Pictures of the property are required by most underwriters
4 – Provide borrowers FICO (Fair, Isaac and Company) score
5 – Make sure the appraiser is acceptable to the lender before placing the order
Go to the Matrix website – http://www.commercial-real-estate-loan.net to submit a loan request or call one of our loan originators at 800-588-9021. Brokers are protected.
Closing schedules for conventional real estate loans range from six to eight weeks. Most permanent and refinance loan programs are provided to the originator at par.
Matrix Mortgage International may retain the servicing of any given mortgage that has been sold or pre-sold to another institutional investor, per single transaction or in portfolio aggregates.
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