Latest news on Fractional Interest TIC Financing:
As of June 4th 2009 there are two lenders that I am working with on my listings and purchase transactions, the main source of TIC financing is through Sterling Bank, I work with David Park at Integrated Mortgage cell 707-758-1110 email: d.park@imc4loans.com , current rates are 7.25% for an 80% loan fixed for five years with one point, seller buy downs of 3/4 of a point are ok on these loan limits bringing the rate down to 6.75% if seller is willing to credit 3% of purchase price toward rate buy down. With 30% down Sterling's five year fixed rate drops to 6.75%.
Through David Park I also have access to NCB TIC fractional financing, that lender currently requires 30% down and does not allow any secondary financing, their rate for a five year fixed loan with one point is 6.25%, they also offer a seven year fixed rate and they allow a .25 point rate reduction through a one point buy down.