Permanent Loans provide competitive rates for stabilized buildings and borrowers in need of permanent longer-term financing.
Stabilized income producing property purchase and refinance transactions. Cash-out available.
Multifamily, Manufactured Home Communities, Office, Retail, Industrial, R&D Flex, Self-Storage, Hotel/Motels & More.
$1,000,000 - $50,000,000+
ICS services capital requests from $1,000,000 to over 50M.
3 - 30 Years
Common Loan Programs / Customizable
3 Year Fixed, 30 Year Term, Semi-annual rate adjustment for 27 years
5 Year Fixed, 30 Year Term, Semi-annual rate adjustment for 25 years
7 Year Fixed, 30 Year Term, Semi-annual rate adjustment for 23 years
10 Year Fixed, 30 Year Term, Semi-annual rate adjustment for 20 years
15 Year Fixed, 15 Year Term
20 Year Fixed, 20 Year Term
30 Year Fixed, 30 Year Term
15, 20, 25, 30 & Interest Only
Prime Based & Libor Based
Rates are based on location, building quality, and leverage.
Multifamily 75% to 80%
$1,000,000+ to 80% (Fannie Mae Loans Only)
Debt Service Coverage Ratio
Permanent loans include a prepayment penalty.
FEES / POINTS
0% to 1%
Points vary based upon property location, property type, income, and borrower financials. No point loans can be structured on select properties.
45 - 90 Days
Loans are typically closed in 4 - 8 weeks from application.
A full appraisal is usually required for all ICS permanent loans.
Down payment purchase funds must be verified via bank/investment statements. 20% to 30% down is standard.
Recourse and non-recourse available. Additional income property types considered on a case-by-case basis. Underwriting deposits may be required depending upon property location and deal type. Terms and conditions subject to change.
Long-term permanent loans typically have a maturity period of 3 to 30 years. In real estate projects, permanent financing is obtained after completion of construction, rehab, or the property has been leased-up to a point where net operating income supports standard bank debt service requirements. Permanent loans offer lower rates with longer terms, but do required properties to be stabilized, with good credit borrowers. Permanent loans are used to pay-off short-term bridge loans.
Hotel / Motel