Ask about our rate options, you’ll find they are extremely competitive!
Loan Highlights
Loan Amount
$100,000 to $2,600,000
Property Types
Retail (anchored, shadow anchored and unanchored), Industrial, Office, and Self-Storage
Term
12-Months, converted to 10-Year Mini-Permanent loan
Amorization
25-years
Interest Rates
Variable, converted to a fixed rate
Loan-to-Value
Generally not to exceed 75%
Prepayment
Lockout period as short as 24 to 36 months. Any prepayment penalty will be based upon the remaining term of the loan.
Assumable
Subject to lender's approval; 1% assumption fee
Minimum Debt
Typically 1.25x or > Office/Indust.
Service Coverage
Typically 1.30x or >
Coverage Ratio
Typically 1.40x or >Retail/Specific
Closing
45 to 60 days from executed application assuming timely receipt from borrower of all information requested.
Early Rate Lock
Available for no fee following executed application and receipt of 2% refundable deposit.
Loan Summary
The Premier Commercial Construction/Conversion Loan is an innovative construction to permanent long-term, fixed-rate loan product, keeping loan costs down. This groundbreaking loan includes many unique features that significantly reduce borrower costs and ease the loan origination process. Plus, it's backed by a money-back guarantee.
Contact us for more information at (951) 274-2400.
