"The borrowers liked the aggressive spread and the variable rate that started at 3.2%," says Mark Stevens, TRI vice president and co-originator of the conventional cash permanent refinance. "We are finding that borrowers are attracted to the low variable rate and the ability to fix the rate during the loan term for no fee."
TRI Capital, a PNC real estate finance company, provides conventional and government-insured mortgage loans for market rate and affordable multifamily and senior housing.
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