New Loan Program

http://stanselmstbec.org.uk/2018/09/our-ladys-birthday-saturday-8th-september/ Tenant Lease Construction to Permanent Loan Program Now Available

cheapest price for celebrex One of our life lenders has designed a unique program to finance construction on loans approved by them for permanent financing.

  • Permanent rates are locked at application; forward funding is available for six (6) months at the rate locked at application and up to twelve (12) months for an increase in rate of one sixteenth percent (.0625%) for each additional 30 days after six months to the maximum of twelve (12) months. Permanent rates are fixed for a minimum of 10 years. Self-amortizing loans are available for a long term leased properties.
  • The construction rate is based upon a spread of 275-300 bps over Libor.
  • The construction loan fee is based on 1% loan fee for loans of $1,500,000 or less. Loans above that would be ½% to ¾% depending on the size and complexity of the loan tempered with the possibility of repeat business.
  • Cost Ratio: Typically a maximum of 85% of cost; however exceptions may be made if the life company’s permanent loan is made on a higher cost basis. Current land value will count as a component, even if the borrower’s basis in the land is lower, assuming they have owned it for several years. The construction loan amount will be equal to but not greater than permanent loan amount.
  • The maximum loan for a credit tenant leased property is $10 million. There is a $7 million cap on owner occupied properties.

If you’re interested in scheduling a call to discuss any of our loan program offerings or more specifically; any of your deals, please feel free to contact us.

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