Permanent Investment Real Estate Loans
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 $500,000 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.
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
- Assisted Living
- Self storage
- Light industrial/warehouse
- Medical office
- Mobile home parks
|Amounts:||$250,000 to $25,000,000|
|Maturities:||2 to 15 years|
|Amortization:||Maximum of 30 years|
|Interest rates:||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.|
|Debt service ratios:||1.20 to 1.50 Each loan is underwritten at a ratio commensurate with the risk profile.|
|Security:||First mortgages only.|
|Personal guarantees:||Both recourse and non-recourse loans are available.|
|Prepayment penalty:||Flexible terms; not always required.|
|Monthly escrow:||Monthly escrow for real estate taxes and property insurance are sometimes required.|
|Assumption:||Assumption by an approved purchaser will normally be permitted with payment of a 1% assumption fee.|
|Secondary financing:||Secondary financing is allowed, in some cases with written approval of the lender.|
|Application fee:||To be negotiated|
|Reports deposit:||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.|
|Commitment fees:||Normally 1% of loan amount.|
|Closing costs:||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.|