Longmeadow, MA (PressExposure) November 07, 2008 -- MasterPlan Capital LLC announced today the roll out of a new commercial mortgage loan product for apartment and office buildings.
The new offering is an adjustable rate (ARM) commercial mortgage loan with the rate fixed for 3 years. The mortgage will be amortized over 25 years and due in 10. The rate will adjust every 3 years based on a margin over an established index. The loan will also carry a 3 year declining pre-payment fee that starts at 3% and decreases by 1% a year to 0% after the third year. The program will feature loan-to-value ratios of up-to 75% and will be offered against stabilized properties only. Loans will be made for purchases as-well-as refinances.
MasterPlan is pleased to be able to expand its commercial mortgage product offerings despite the challenging credit environment that the real estate industry is facing. The relatively short fixed period of their new commercial mortgage will make it possible to offer very attractive fixed rates and the fact the rate will adjust only every three years rather than quarterly, as many adjustable rate mortgages do, will still allow borrowers a measure of stability.
Borrowers can apply for financing at the company's website or call their toll free number (800-727-5140) to schedule a consultation.