Investment Mortgage Guy

To qualify, most banks are looking for a 70% loan to value ratio based upon the lower of the appraised value or cost to build a new construction apartment building in Minneapolis.  For example, if you have a project cost of $2,000,000, you will need to plunk down $600k to get your financing. Most of [...]

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Fannie Mae offers very competitive financing on apartment buildings in the Minneapolis and St Paul area. Fannie offers 3year, 5year 7 year and 10 year balloons with 30 year amortizations at rates most local banks can’t compete with. Local banks are not normally set up to offer Fannie Mae  financing like they can in the residential [...]

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