Permanent Loans
In the current interest rate environment, with long-term rates at or near historic lows, it is to most borrowers' advantage to lock in a fixed rate rather than deal with the uncertainty of an adjustable rate mortgage. Additionally, an interest only component is available in most cases, if desired.
We have a variety of loan products available from loans with 1 to 25 year fixed rates, to fully liquidating loans with terms of 20 to 25 years. The availability of the various loan types depends upon your specific project. We will work with you to structure the loan rate, term and amortization to suit your particular needs.
Please see our current rate page to view rates available today for various loans.
Current Rates (02/03/2012)
- Apartments 4.19%
- Mobile Home Park 4.44%
- Anchored Retail 4.29%
- Non-Anchored Center 4.54%
- Single Tenant Retail 4.34%
- Office 4.54%
- Industrial / Flex 4.44%
- Self-Storage 4.74%
- Medical Office 4.44%
- Hotel 4.94%
- Owner Occupied 4.14%
- Land 10.94%
- Other 5.69%
Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.
Current News
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent.
Less Strength Than Meets The Eye
Real GDP grew at a 2.8 percent annualized rate during the fourth quarter, but the underlying data show the economy has less momentum going into 2012.