As the lobster hunting season comes to an end ( if you're a diver :)  ) I thought I would update you on the changes happening in the Commercial Side of Real Estate.

 Below are the average rates for a "Full-Doc" loan. or someone who has no trouble showing tax returns that verify thier income.

To keep it simple Everything listed below is based on a 5/30 fixed rate loan program with a 3-5 yr prepay.

Multifamily and Mixed-use                 5.625-6.75%

Office/Medical/Retail/warehouse/Storage/etc          7-8.125%

Special Purpose/Gas Station/Industrial/Churches      7.89-12.%

Stated programs are also available on most property types but will increase the rate by .75-2.5 %

Remember these are the average rates. Many lenders are better at one thing than all things and it's important to know what a bank specializes in.

For instance, I have one lender that will allow a Debt Service Ratio (DSCR) to be in the negative .80-.90 with one of their "investors" programs and the rates are still very competitive! You just have to know where to go!!

Please call me with any scenarios that I might be able to help you with, All it takes is a phone call and I might be able to close a deal that your bank says is untouchable!

CunninghamCommercial.com