refinancing apartment for little under 5 million

[Charley C.]

You lenders ought to love this post

Hi, I am studying the benefits of refinancing into a lower rate. I am wrapping up the construction of an apartment complex (about 40,000 sf 34 units, Class AAA little over the top in quality). Would need just under 5 mill. I would like to lock the rate for a minimum of 5 years may be even longer. 

My revenue is about 35% student housing I think that knocks me out of fanniemae but what about freddie ?

Gross income is a little over 51,000, loan balance 5 mill after prepayment penalties closing cost etc. 

I was wondering about the interest rate and lender fees. The loan's closing can of course be contingent on completion and occupancy.. paying a little over 5% now but very exposed to changes in the market interest rate. My credit, experience, alternative income, my cash to the deal is going to be fine on the application

Only interested in loans that are fixed for at least 5 years. I prefer longer than 5 years looking at an easy 70LTV

Post here things like the names of lenders, interest rates and the market, certainly welcome to post that here. However, if you want to ask questions about location and specific details please send a message