Executive Funding is conquering the myth that interest rates have become too high and banks too picky. It is a great time to be a commercial real estate borrower.
Its been another busy year for executive funding with the incredibly low interest rates currently available and the new stable of commercial programs being offered. We have been very busy with refinances along with purchase transactions. Our transactions have been spread across the Country as the multifamily / apartment market continues to hold its strength and the commercial market returns as strong as ever.
Executive Funding offers all types of commercial lending including office, retail and industrial, while specializing in multifamily / apartments. Market rate, affordable housing, assisted living and student housing are all covered. We offer Fannie Mae (FNMA), Freddie Mac, Federal Housing Administration (FHA) and Housing and Urban Development (HUD) lending. Along with these programs we also offer a portfolio of bridge, commercial mortgage backed securities (CMBS), recourse and non-recourse loans from our private, credit union and bank clients.
Advisory services has also become a strong market for Executive Funding. We advise our clients on the assumption process, work out process and restructuring of debt.
Loan Assumptions: Let us assist you with the assumption of existing debt. We have a very successful track record of assisting borrowers to assume existing debt. Because of the lack of motivation from the existing lender/servicer, it can be very difficult to get through the assumption process. Assumptions tend to be far more time consuming and difficult than the placement of new financing. Because of many prepayment restrictions, it is a necessity to assume some loans. We are here to help and have been easing the process and getting assumption completed in a timely manner. If you are looking at a property that has existing debt in place, give us a call and lets discuss assumption options and how we can help.
Fannie Mae is a great multifamily lending source with low interest rates, variable loan terms and amortizations. Loans are typically non-recourse. Loan amounts from $1,000,000. Standard multifamily along with student, assisted living and affordable programs.
Freddie Mac has become a very aggressive competitor of FNMA and has recently introduced their small loan programs. Freddie is winning business with their hybrid loan terms and step down prepayments.
HUD / FHA:
Long term fully amortizing loans for new construction 221D4 and refinance 223F along with special programs for assisted living and affordable housing. Loan terms up to 40 years. Very active refinance program A7 that streamlines the process and takes advantage of current very low interest rates.
Bank & Credit Union Partners:
Our bank and credit union partners offer a variety of programs for both multifamily and commercial loans. Loans are typically recourse to the borrower and offer negotiated loan terms and prepays. Great loans for looking at deals that might be outside the box of the GSE lenders.
Life Companies are back in the market for both multifamily and commercial loans. Typically we are seeing lower LTV's in the 60-65% or less range but very attractive interest rates and terms.
Commercial BridgeFinancing:Higher Leverage Non-Recourse Bridge Financing - $8,000,000 to $50,000,000 for value-add transactions. Rates from 5.25 over labor – LTV’s to 80% plus with 100% funding for Renovations, TI’s and LC’s. This is a new product that we are having great success with.