Mortgage Authority Apartment Loans     

 Small Apartments

 Bed & Breakfast

 Mixed Use

 Local Banks                              vs.                  Mortgage Authority

15 to 20 Year Amortization                                30 to 40 Year Amortization

Fixed for 5 Years                                             Fixed for 3, 5, 7 or 10 Years

Balloon (call) after 5 Years                                No Balloon (call) after 5 Years

Must re-qualify at Balloon                                  No re-qualifying

Low Rates (effective rate?)                               Low Rates - ask about Interest Only

Not Assumable                                                Assumable

Phase One Environmental Requires                                   No Phase One (saves on up front cost)

                                                                                     Cash Out Available

 Hiighrise Apartments or

 Condominium Conversions

 to Rental Apartments

(Reverse Conversion)

                                                                           Rental Apartments

                                                                           Low Rise                  

                                                                           Phased Conversions