Most of Applesway’s loans originated in the second half of 2021, just before the Federal Reserve began its campaign to raise interest rates. At one property, the interest rate on Applesway’s loan had risen from 3.4% to around 8%, according to loan information obtained from data firm Trepp Inc. At least two of the properties were financed with about 80% debt, which is considered high leverage in commercial real estate.
if loan was only originated in 2021 and rate is reset now
if the loan was only originated in 2021 and the rate is resetting now, it is most likely a bridge loan,
most of the time, if the loan was originated and serviced by a local bank, most of them are 10-15-year term but rates will reset every 5 years if the loan originated by Fannie/Freddie, it can be 7/10/12 year term and the rate doesn't change thru the course of the loan.
Most of Applesway’s loans originated in the second half of 2021, just before the Federal Reserve began its campaign to raise interest rates. At one property, the interest rate on Applesway’s loan had risen from 3.4% to around 8%, according to loan information obtained from data firm Trepp Inc. At least two of the properties were financed with about 80% debt, which is considered high leverage in commercial real estate.
early payoff penalty
always have hefty early payoff penalty clauses.
当然不是我们说的1~4单元的常规贷款， 而是商贷。
if the loan was only originated in 2021 and the rate is resetting now, it is most likely a bridge loan,
most of the time, if the loan was originated and serviced by a local bank, most of them are 10-15-year term but rates will reset every 5 years if the loan originated by Fannie/Freddie, it can be 7/10/12 year term and the rate doesn't change thru the course of the loan.
they are non-recourse.
bank becomes the new owner, even worse
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