ICS Permanent Bank Loans

 

Permanent Loans

Permanent Loans provide competitive rates for stabilized buildings and borrowers in need of permanent longer-term financing.

 

PURPOSE

Stabilized income producing property purchase and refinance transactions. Cash-out available.


PROPERTY TYPES

Multifamily, Manufactured Home Communities, Office, Retail, Industrial, R&D Flex, Self-Storage, Hotel/Motels, Religious, SFR Rentals & More.


LOAN SIZE

$75,000 - $500,000,000+

ICS services capital requests from $50,000 to over 500M.


FIXED TERM

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


AMORTIZATION

15, 20, 25, 30 & Interest Only


RATES

Prime Based & Libor Based

Rates are based on location, building quality, and leverage.


MAX LOAN-TO-VALUE

Multifamily 75% to 80%

$1,000,000+ to 80% (Fannie Mae Loans Only)

Under $1,000,000 to 75%

Commercial 75%


Debt Service Coverage Ratio

1.2 x


PREPAYMENT

Permanent loans include a prepayment penalty.


FEES / POINTS

1% - 2%

Points vary based upon property location, property type, income, and borrower financials. No point loans can be structured on select properties.


CLOSING TIME-FRAME

45 - 90 Days

Loans  are typically closed in 4 - 8 weeks from application.


FULL APPRAISAL

A full appraisal is usually required for all ICS permanent loans.


DOWN PAYMENT

Down payment purchase funds must be verified via bank/investment statements. 20% to 30% down is standard.


CUSTOMIZATION

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.

Permanent Financing

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.

PROPERTY TYPES

Multifamily

Office

Retail

Industrial

Self-Storage

Manufactured Housing

Hotel / Motel