Hunt Corporate Services, Inc.

Your Corporate Real Estate DepartmentSM

Financing Page

The Experts in the Marketing and Acquisition of Commercial Real Estate on Long Island

Current Market Rates and Programs for the 

Long Island Commercial Marketplace

 

CONVENTIONAL FINANCING: Rates on first mortgages range from approximately 7.00% to 8.00%, typically 15-year mortgages on 20-year payouts.

TAX FREE BONDS: For manufacturers or 501C3 not for profit only. Lower floater rates. Letter of Credit enhanced rates currently 3.75% plus Letter of Credit fee. Some lenders will purchase tax free bonds for their portfolio (versus Letter of Credit) - fees are lower since there is no L/C fee and closing costs are reduced. Fixed rate bonds are also available at approximately 6%.

SMALL BUSINESS ADMINISTRATION: Current rate is 7.50% fixed for 20 years. Recent closings were at 6.35%. These are second mortgages for up to 40% of project cost, ceiling of $1,000,000 ($1,300,000 in certain cases).

JOB DEVELOPMENT AUTHORITY: Second mortgages for up to 40% of project cost, maximum loan of $1,500,000. Current 20 year tax exempt rate is 5.95% and taxable rate is 8.30%.

Source: Gallagher Associates, Ronkonkoma, NY (631) 467-1010

Our Mission:

To provide Long Island companies with specialized experience and expertise in the marketing and acquisition of corporate real estate.  Our emphasis is to provide our clients with highly personalized real estate service that is straight-forward, timely and confidential.

 
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