INCOME PROPERTY LOANS.
INCOME PROPERTY LOANS
RATES AS OF FEBRUARY 9, 2000
TYPE RATE LTV POINTS MARGIN ADJUST NOTES
CalFed Lending MDU 8.500% 75 1.751 NA F N/O/O 1-4 UNITS
Chase Manhattan MDU 8.750% 70 2.000 NA F N/O/O 1-4 UNITS
Downey Savings Res 8.250% 75 2.000 NA F SFR N/O/O
First Federal Bank MDU 7.452% 75 1.000 2.600 1/M 5+UNITS
PFF Bank & Trust Res 9.000% 70 2.000 NA F N/O/O SFR
Sanwa Bank Res 8.750% 70 1.625 NA F SFR N/O/O
Southern Pacific Bank MDU 6.950% 80 1.500 2.750 6M 5+ UNITS
Sun West Mortgage MDU 8.250% 80 2.000 NA F 30/30 Assumable
Union Bank MDU 8.250% 65 2.000 NA F N/O/O 1-4 UNITS
West Coast Mtg. Grp. MDU 7.500% 75 2.000 3.200 6M 5+ U/COMM CALL
World Savings Bank Res 9.000% 70 2.500 NA F N/O/O SFR
The above rates reflect lender requirements such as soundness of investment, underwriter guidelines and other considerations. In general, rates are for "A quality - building, location, and credit. Verify rate and terms prior to applying for a loan. This information is presented for comparison only and should not be construed as an endorsement of any of the above organizations or products. GUIDE TO ABBREVIATIONS Type Com = Commercial; MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. = Multi. Dwelling Units; Ind = Industrial; Res = Residential; Const = Construction. Rate (Interest rate) Start rate for adjustable mortgages or note rate for fixed rate loans. A.P.R.s will be higher. LTV LTV See: Loan-to-value ratio Loan to value ratio (in %) 100 minus LTV equals % down payment needed. Points Percent of loan balance paid to lender at time of loan closing. Margin (in %) is lenders profit; margin plus index equals actual rate after first adjustment. Adjust Adjustment frequency: #M = number of months; #Y = number of years; F = Fixed rate loan with no adjustment. (Note that all 1-month adjustable loans have possible negative amortization) Comments SFR = Single family residence; N/O/O = Non-owner occupied; APTS APTS Alexandra Palace Television Society (UK) APTS Advanced Public Transportation System APTS Austin Presbyterian Theological Seminary (Texas) APTS Association of America's Public Television Stations = Apartments; PUR = Purchase; PUD PUD abbr. peptic ulcer disease Peptic ulcer disease (PUD) A stomach disorder marked by corrosion of the stomach lining due to the acid in the digestive juices. = Planned unit development A Planned Unit Development, or PUD, is both a type of building development as well as a regulatory process. A PUD is a designed grouping of varied and compatible land uses, such as housing, recreation, commercial centers, and industrial parks, all within one contained ; PRI PRI: see Institutional Revolutionary party. (Primary Rate Interface) An ISDN service that provides 23 64 Kbps B (Bearer) channels and one 64 Kbps D (Data) channel (23B+D), which is equivalent to the 24 channels of a T1 line. = Prime rate; CONV CONV Conversation CONV Conversion CONV Convention CONV Converter CONV Convertible conv Conveyor CONV Convocation CONV Convalescent TO PERM = Converted to permanent rate. |
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