Rates

These rates are subject to change daily. Commercial Interest Rates are based on the borrower's financial strength, the cash flow of the project/property, the collateral, and the down payment. At this time, rates are between 5.25% and 8% with the average rate between 6.00% to 7.25% for a 5 yr. fixed with a 20-30 year amortization. The Residential Rates are based on credit score, LTV (Loan to Value)/LTC (Loan to Cost), # of units, and other criteria. The average 30 yr. conventional fixed rate for a primary residence is around 6.875%-7.375% (As of 1/9/2024) depending on lender and other various factors. Rates may be lower if client goes borrower paid for the origination.

We work with many banks throughout the Florida market and here is the range we're seeing:

Amortization: 20- 30 years 

Term: 5-25 years

Fixed Rates: Lenders are fixing rates for 5, 7, 10, 15, and 20 yrs. 

Rate Ranges: 5.25% to 9.50%, most in the 6.00% to 7.25% range. Rates are changing daily. 

Loan Fees: .25% to 1%, most of our clients are seeing .50% or less on the bank's loan fee.

Relationship Requirements: Most lenders are asking for a deposit relationship.

We are set up with many Non-QM Lenders and our programs included financing for Foreign Nationals, Asset Utilization, Bank Statement, DSCR, No DSCR, Condotels, Non-Warrantable Condos, and other programs. The rates vary a lot between the programs. Please email or call us with scenario and we will price the loan for you. Due to our lower fees, you'll find our rates to be less than many other lenders for the Non-QM programs. Also, be aware that some programs do have prepayment penalties and they are negotiable but it may affect the rates. The rates are currently in the 7's and 8's depending on credit score, interest only option, and the length of the prepay between 1 yr. and 5 yrs. with the 5 yr. prepay offering the lowest rates. These rates are averaging between 7.75% to 8.75% for the DSCR program.

We offer 30-40 year fixed rate Non-QM Jumbos and Jumbo ARMS(Adjustable Rate Mortgages) for borrowers who typically don't meet the traditional bank and credit union guidelines. We also offer Jumbo loans for Non-Warrantable Condos and Condotels. Due to our extensive list of lenders, we can accommodate almost any loan amount. 

What is considered a Jumbo Mortgage for 2025?  (Some Exceptions to this may apply)

$1.00 over the following limits: 

1 Unit Property: Over $806,500

2 Unit Property: Over $1,032,650

3 Unit Property: Over $1,248,150

4 Unit Property: Over $1,551,250

This program allows you to put the loan in the LLC name or entity name and the individual borrower will be considered a Guarantor rather than a Borrower. For this program, the lender is focused on the subject property's cash flow and does not typically ask for any personal income verification. The lender does pull credit on the guarantors and they typically do a background check. These programs usually offer a 30 year fixed rate and our client's typically put 25% to 30% down in order to keep the rates down. These programs also offer Interest Only for the initial 10 years for a slightly higher rate which can help improve the cash flow in the early years. These loans typically carry a prepayment penalty for a period of time which is negotiable but it does affect the rates. These loans typically require that you escrow for taxes and insurance. 

Rates: Typically in the 7's, 8's and 9's depending on credit score, down payment, property cash flow, and prepayment penalty option chosen. Please email me with a scenario and we'll get it priced for you.

This is for multifamily properties with a minimum of 5 units. This program usually offers a 30 yr. amortization with up to a 10 yr. fixed rate. These rates are in the 5.50% to 6.25% range with loan  amounts $1MM-$6MM. The max LTV is 70-80%. Must have 90% physical occupancy over the 3-month trailing period. The DSCR requirements are between 1.20x-1.40x depending on market.

We are in the process of getting updated rates. These rates have been running in the 8's, 9's, and 10's for a 10 yr. fixed with a 30 yr. amortization. These loans typically have a prepayment penalty.