GREAT RATES! – Why Now Is A Great Time To Buy Or Refinance
Thursday, May 9th, 2013
By: Solange Velas, CCIM
By Solange Velas, CCIM
Over and over we hear, “We will never see rates like this again”, and truthfully they are probably right! The financing market is offering rates that I’ve never seen in over 29 years of selling multifamily. Do you remember the days when we were excited to get a 12% fixed rate (1985)? How about when we could find adjustable rates that started at 6.75% with caps of 12.75%?
Because of the Federal Reserve’s current monetary policy, we are able to help clients find loans for 5+ units at rates ranging from 4.5-5.5% fixed for 5 years with amortizations from 15-25 years. On the 2-4s, depending on whether you use a 15-year or 30-year fixed, our clients are getting rates from 3 to 4%! Amazing what rates like this can do for your bottom line. A 2% differential per $100,000 of loan amount saves you $2,000/year, year in and year out!
So if you are buying now, or if you’re not ready to sell but are paying 6% or more on your current loans, call us today and we will be happy to share with you the lenders that are lending NOW!Back to Blog