Prudential Mortgage Capital provides $137.8 million to refinance Hawaii's ... MarketWatch (press release)
.The seven-year, fixed-rate loan is secured by the newly renovated, 639-room hotel located on the shores of Waikiki in Honolulu, Hawaii. The hotel recently completed an extensive $113 million renovation and repositioning that included essentially rebuilding all of the hotel's guestrooms, retail space, public areas and poolside grille.
Prudential's San Francisco-based team arranged the financing, led by Frederick van Overbeek, a principal, and Elizabeth Velazquez, director of originations.
"The hotel industry is in the midst of a recovery following a severe downturn, and Hawaii has enjoyed that recovery," van Overbeek said. "This financing fits our strategy of investing in highly competitive and well-located hotels with superior sponsorship. The property has potential for strong growth, particularly given the operational expertise Outrigger brings to this transaction with more than 60 years of hotel industry experience. We are excited to continue this important borrower relationship."
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Commercial Mortgage Refinance - Commercial Mortgage Refinance FL
www.CommercialMortgageTips.com Commercial Mortgage Refinancing is easy when you know where the money is! Get out of that SBA loan today! Call us ...
How do we choose who to refinance our home with?
We have very good credit (my husband and I are each 750+), and need to refinance our home. When we purchased, my husband was newly self-employed and had to get a no-doc loan, so it isn't a very good loan to have. There are so many radio commercials and other ads for mortgage refinancing. How do we pick one? We thought about the LendingTree.com or themortgagestore.net. Any advice?
No no no if you have an excellent credit score, and you do with those numbers than go shopping for a bank. call around and get quotes they need you more than you need them! 750 + is hard to find. Mort companies charge 5-7 thousand for closing costs. That is how they are paid. Banks are on salaries not commission. Average closing costs for bank are 2500.oo Save yourself some money and go to a local bank. And I mean shop talk to at least three locals! good luck ....Maine Realtor
Not all mortgage companies can operate in your state and you didn't give us that information. So first I would talk with your local lenders to see what programs they offer.
Then here is are several companies I have done business with:
Premier Lending - Brian Mix (206) 274-4000
TopDot Mortgage - Merissa Serna (800) 779-1239 X 118
WCS Lending - Martin Wenzel (561) 864-2415
I put them in order of my business relationship. I hope this is helpful!
Mortgage/commercial loan question?
A local rental company is liquidating, and I was curious what the best way to purchase multiple properties at the same time would be. In the past I have always purchased properties on individual mortgages, or multiple on land-contract. Is it possible to get one loan to cover multiple properties for purchase? For refinance? Would this have to be a commercial lender? Thanks for any help.
Let's start with the first question first. It is POSSIBLE to get one loan to cover multiple properties for purchase. I honestly believe that there is a lender for everything these days. Now, as to whether or not it would have to be a commercial loan, that depends on the property. How many units is each property? If it is more than 4 units it is considered commercial and will have to be sent to a commercial lender. If your looking for a broker to help you out don't hesitate to email me. I do a ton of constructions loans every month. Send me an email and if I'm licensed in your state I will be glad to help, if I'm not licensed in your state than maybe I can recommend someone who is licensed in that state. Good Luck!
Refinancing Mortgage?
I want to refinance my mortgage but I live on Highway commercial property and I run a business out of my home. I can not find any one who will refinance me because of the business. I live in PA does any one know a company who can. Please Help!
you need a lender that does mixed-used properties
A good example of a 'single use' commercial property is a gas station. It can really only ever be used as a gas station without significant renovations.
If your business doesn't require any changes to the property like this, then it should be a fairly easy loan to do. I'd suggest contacting several local mortgage brokers or banks and asking if they do this type of financing up front.
To find good local brokerages or banks you can contact your local chamber of commerce or BBB.
How do I get a loan for any reason from $50K to $10M?
For Real Estate whether commercial or residential, refinance, construction, 2nd mortgage, investment, foreclosure buyback, secured or unsecured, personal, business, signature, and auto. If you can help please contact me via email me via my profile.
Check out http://mortgage.yeyeyup.com They may help you.
who needs money to buy a home, investment property, or for contruction?
residential, commercial, investment, construction, refinance, 2nd mortgage, foreclosure buy back, or any other reason concerning real estate.
Advertising here is a violation of the TOS. Delete your "question".
Would you like answers to your real estate financing questions?
This is for commercial and residentail real estate. Renters can buy real estate. People with bad credit can buy real estate with little or no money down with me. People in chapter 13 bankruptcy can refinance out of it. People one day out of Chapter 7 bankruptcy can refinance or purchase real estate. I offer 100% financing on construction loans! I have loan programs for bad credit where the credit scores are ignored.
Commercial mortgages to 90% and working capital and closings added to that for a 93% commercial loan. These loans are based on the value of the collateral, credit, cash flow and resume of the borrower.
I look forward to your emails and working with you on your real estate financing requests.
Thank you.
well i really can't awswer this question but i think real estste financling is something really hard
what are current rates on late fees and interest on commercial mortgages?
I sold my building to someone 4 years ago. I gave him a 30 fixed mortgage at 7% interest with a 5% late fee and 5% interest on late payments. He now wants to refinance. But he was late on every payment during the 4 years. Sometimes 2, 3, up to 8 months late on his payments. I have no problems refinancing with him at 5.25%. But i wanted to know if i can charge him a higher late fee and a higher interest rate on the late payments? And what are the legal rates to charge based on his past history?
The "agreement" that you have is not a legal one.
Lending laws (even if he/she signed it) does not allow you to collect BOTH a late fee and then double-dip on the interest rate for real estate property.
The interest gets calculated into the outstanding balance...so by charging him an extra 5%..you are double dipping...lending laws do not permit such a practice and a 5% late fee can also be possibly illegal depending on what you are basing that 5% late fee on.
You can charge up to the state maximum on the rate, but you cannot attach a separate interest rate for the outstanding balance. All you can charge is the 7% of whatever the outstanding balance is and amortize accordingly.
You need to consult with an attorney...a licensed attorney MUST draft a note attached to real estate...it is NOT LEGAL if you do it yourself...this is what makes real estate law different from other types of property law.
If you write it yourself, it won't be worth the paper it's written on b/c that is practicing law without a license.
Again, you need to consult with an attorney to know the maximum rate you can charge in your state and to draw up the new contract.
You cannot change the current contract without his signature and the note must be publicly recorded.
How can i find a website that all i can remember is it has 31.com at the end of it?
This came from a commercial on television about a website that had a mortgage company that would refinance bad credit. I don't know how to find the website with this little information to go by.
Already tried google with 31.com even did advance search. Nothing came up. Also tried subprime mortgage companies and that was a bust too. Any other suggestions?
What refinancing options should I choose?
Ok here is my situation. I purchased a foreclosed home in Mid-February and put 20% down. I have recently used a Home Equity line of Credit as well as my credit card to fix this home up. I have a ten year fixed rate mortgage and realized that I have accumulated enough credit card debt to consider refinancing. I am unsure of how soon I can refinance since I have only had one payment on the house already. I have had realtors come over and look at my house and they that the house appreciated around 60-80 thousand after all debts are paid whenever I choose to sell. I know that when I do refinance, I will have to get the home appraised, but how soon can I do that. I know that there is not a fee for paying off my home early as well. I was thinking about using a cash-out mortgage and investing in some commercial real estate with my father.. Which would you choose and why?
You have to wait until you're on title, which usually takes a month, but, yeah, you can refinance any time you want to as long as you don't have the prepayment penalty.
Mortgage Loan Refi?
At what point in a 30-year mortgage does it make sense to refinance? Is a refi based on equity in the house or is it based on another factor? After a br, when is the time to refi? What credit score is minimum to refi? Mine is over 650. Also, my property has increased in value, there's new construction, both commercial and residential, near my house and the football field.
I ask because one banker told me to wait until I owned a quarter of the house in equity. Is that accurate?
Thank you.
Hi,
I used to work for a bank. The main reason people refinance is to get a better rate, or to borrow more using equity in the property.
Equity- if you bought your house for $200k 5 years ago, it would have increased in value to maybe $250 or $300k. So the difference between what you owe to the bank and your market value of the house is really how much equity you have in the house.
Since you have had your mortgage for suck a long time, i would consider "shopping around". See what deals you can get. Once you get the best deal ask your current bank to match or beat it. If they don't go elsewhere.
The only thing to worry about, if you current loan is fixed, you will incur a fee for breaking the loan. If not fixed then you can leave at any time.
Hope this helps.
Carla
commercial mortgage refinance - News
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Bailed-Out Banks Charge Highest Fees in FDIC Sales The agency, which established the program to help banks refinance debt maturing this year, said it is considering extending the guarantee’s duration. |
Mortgage group warning of commercial foreclosures - San Diego Union Tribune
China DailyMortgage group warning of commercial foreclosures Of total non-bank holdings of commercial and multifamily mortgages due in 2009, nearly 53 percent are in commercial mortgage-backed securities, New Crunch Ahead--- $171B of Non-Bank Commercial and Multifamily US MBA’s Mortgage Applications Index Slid 24.5% Last Week Mortgage Applications Decrease in Latest MBA Weekly Survey -
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Commercial real estate gets in on rescue plan - International Herald Tribune Commercial real estate gets in on rescue plan "There was a sense of urgency to do this quickly," said Brendan Reilly, the lobbyist for the Commercial Mortgage Securities Association, about the bailout. US property investors cheer and boo Treasury program REAL ESTATE: Analysts warn of commercial meltdown |
Consumers face stricter standards for loans -- if they're even ... - The Plain Dealer - cleveland.com
The Plain Dealer - cleveland.comConsumers face stricter standards for loans -- if they're even But when they decided to refinance last month, they wondered about the credit storm everyone was talking about. Would they even qualify for a new loan?
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More Liquidity Needed to Avoid Crisis in Commercial Real Estate "If lenders cannot meet the growing demand for credit to refinance performing commercial real estate loans which are due to mature soon, a wave of defaults |