Investment Mortgage Guy

Rates for apartment building loans are seeing record lows. With vacancy rates in Minneapolis and St Paul approaching zero, banks are eager to help landlords put new financing on their properties.
Here are some same rates on September 22nd
FHA – 4.25%
Fannie Mae 5 year fixed – 3.75%, 7 year fixed 4.25% and 10 year fixed 4.75%.
Portfolio [...]

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Stan is a local apartment building owner with a nice 10 unit building in St Paul. His mortgage was on a 5 year balloon and was approaching it’s term so he figured it was time to get with the banker to renew the loan for another 5 years. He figured this process would be fairly easy,  after all, [...]

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I read an article recently starting that 30% of the homes listed today are in need of some type of minor or major repair.  Listings are down dramatically in the Twin Cities with total inventory hovering around $24,000.  (We were above $40,000 in 2006). This is offically a seller’s market. Buyers in this kind of climate need [...]

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