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07/22/2020 Newsletter


Stay Healthy & Safe!!!

                                                      The Saga Continues……

Looking more and more apparent that the COVID-19 issue is not going away anytime soon… With a great number of people choosing not to use masks and proper social distancing, this insidious virus will just not go away on its own… Even on November 3rd as many people like to think!!  We have all seen the data and numerous statements made from the professional medical community for everyone to “mask up”., but we can always lead the proverbial horse to water, but you can’t make them drink…Let’s all please do our share!!

On the mortgage front, RATES ARE AT HISTORIC LOWS!!!! Almost all rates will be with a 2% as the first digit for conventional home loans up to $510K—up to $765K slightly higher.  Please contact us to review your current mortgage program and see if we can lower the rate or shorten the amortization period to take advantage of the interest rate environment.  Even if one is super strong financially, this makes good economic sense to refinance. 

The real estate market is surprisingly robust with sales occurring at all price points.  Multifamily underwriting is more stringent, but still available for strong borrower’s and excellent properties. Financing is available for B and C apartment projects, but naturally the rate is higher.  Please make sure to take advantage of the low mortgage rates for any 2-4 unit investment properties. 30 year fixed rates in the 3%’s are a gift!!

Commercial real estate is a different story.  Credit is available for the “right” transaction, but at reduced loan to values and microscopic underwriting… Everyone is aware of the complex retail issues.

As always, we are available to discuss your personal or client financing needs.  Have a happy and safe, healthy July and look forward to connecting soon!! We welcome your contact. 

Stay Tuned!!

Best Regards,

Gloria Shulman and Curtis Cohen and all of us at Centek