KENDALL REALTY ADVISORS

KENDALL REALTY ADVISORS
Commerical Mortgage

Sunday, September 18, 2011

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

The Process - These loans have a process and they require good documentation. A commitment or rate lock will not happen until all the reports are in and all of the underwriting is complete. Once the commitment is issued, a rate lock and closing can be done quickly. If a loan does not fit the program an application will not be issued.

We will review some basic information about the properties historical income and the borrower's financials situation and then issue a quote. If the borrower likes the quote they will receive and sign the application and send the application deposit. The appraisal and other reports will be ordered. Once the reports are in and the borrower has submitted all the required documentation, the commitment will be issued. The borrower documents include organizational documents, personal financial statements, copies of bank statements, real estate schedules, property income and expense statements, rent roll, copies of leases as well as other forms.

Small Apartment Loans Chicago - Fixed Rate Non-Recourse Low Cost Apartment Loans Nationally: FNMA SMALL APARTMENT LOAN THE PROCESS

Saturday, August 6, 2011

Kendall arranges $2,100,000 first mortgage on Glenlake Apartments.

Kendall arranges $2,100,000 first mortgage on Glenlake Apartments.

The borrower was given 12 months to receive a discounted pay-off from the original condominiumconstruction lender.

Kendall arranged a loan and it closed within two month from the signing of the bank agreement.