Loans Offered
- Bridge Loans
- Construction Loans
- Permanent Loans
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Past Fundings...
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- $900,000
Permanent loan
Service station and convenience store
- $1,250,000
Permanent loan
Warehouse, building
- $1,800,000, Mini Storage Facility
Remond, WA
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Permanent Loans for Income Property
In today's real estate environment, capital is not the sole determination
of success. We combine real estate expertise, flexibility, financial
resources, and speed with a commitment to partner with a borrower
to achieve the desired outcome.
Many of our transactions in the $500,00 to $3 million range are
income property loans historically funded by institutional lenders.
We are not handcuffed by a regulatory environment that hinders
traditional lending institutions — we are creative, efficient,
and effective for our clients. We are dedicated to keeping it simple
and moving ahead quickly to satisfy our client's needs. Mortgage
Equities, Inc. is a reliable, trusted, alternative funding source.
Frederick J. Hoene, President,
Westlund Invest Co. Realtors
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"My client required immediate funding to acquire an apartment
complex to complete a 1031 transaction. Not only did Mortgage Equities,
meet the deadline, but managed to provide and "all-in-one"
acquisition, remodel, and permanent loan. They are expert, professional,
and a pleasure to deal with."
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If your new construction project has reached the stage where a
permanent loan is needed or purchase a property, or refinance an
existing project, we bring our full expertise and creativity to
tailor your need to the available financing options. We can save
money, uncover hidden costs, and realize maximum loan dollars.
Eligible property types
- Multifamily - A, B, & C
- Retail - anchored and unanchored
- Office
- Assisted Living
- Self storage
- Light industrial/warehouse
- Medical office
- Mobile home parks
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Amounts
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$250,000 to $25,000,000
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Maturities
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2 to 15 years
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Amortization
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Maximum of 30 years
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Interest rates
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Fixed interest rates priced at a spread of 1.9% to 3.25%
over the comparable maturity US Treasury Note. The spread
will be determined by the relative credit quality of the loan.
Adjustable rates are also available if desired.
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Debt service ratios
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1.20 to 1.50 Each loan is underwritten at a ratio commensurate
with the risk profile.
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Security
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First mortgages only.
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Personal guarantees
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Both recourse and non-recourse loans are available.
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Prepayment penalty |
Flexible terms; not always required. |
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Monthly escrow
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Monthly escrow for real estate taxes and property insurance
are sometimes required.
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Assumption
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Assumption by an approved purchaser will normally be permitted
with payment of a 1% assumption fee.
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Secondary financing
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Secondary financing is allowed, in some cases with written
approval of the lender.
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Application fee
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To be negotiated
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Reports deposit
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Varies - Range of $2,000 to $4,000 depending on project and
reports required. Outstanding third-party reports less than
one-year old are reviewed to determine if they may be reused
in order to save the borrower time and money.
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Commitment fees
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Normally 1% of loan amount.
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Closing costs
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Borrower is obligated to pay normal and customary closing
costs which include, but are not limited to third party reports,
title insurance, escrow and recording fees, and lender's legal
counsel. |
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