Rockland Commercial

222 N Sepulveda Blvd STE 2000

El Segundo, CA 90245


P : [800]572-4080
F : [310]622-4186








Home > Income Property Loans


Income Property Loans - Owner Occupied Commercial Loans

Income Property Loans can be secured for property that already has a source of income, such as rent, which can be used to make the loan repayments. At Rockland Commercial, we use our understanding of Loan financing options to help our clients identify the best financing for their apartment and commercial buildings, construction projcets, developments, and renovation projects.

The wide range of available Income Property Loan options can be structured in many different ways, with loan amounts from $250,000 to $50 million and terms from 5 to 40 years. With each client, we create the best possible combination of financing, yielding an optimal mix of rates, repayment terms, cash flow, taxes, and fees, using sources that include investors, traditional banks, government sponsored agencies, and governmental agencies.

Below is an overview of some of the many Commercial and Apartment Loan programs that Rockland Commercial provides.

Apartment Mortgages Commercial Mortgages Owner Occupied Commercial Mortgages
Conventional Apartment Building and Commercial Building Mortgages
The following describes some of the apartment building, commercial building, and owner occupied commercial loans that are available.
Classic Apartment Programs Full Doc

Fixed Hybrid loans are available: 3-year, 5-year, 7-year, and 10-year fixed amortized over 30years with no balloon. We have the lowest rates in the industry as we track every lender in the market and offer you the lowest rates available. Interest Only Mortgages available. Progams have step down pre-pay; Some programs allow a pre-pay buyout for a 1pt fee. No point loans available!

Loans from $250,000 - $7MM+
Debt Coverage Ratio: 1.15 purchase, 1.20 refinance

Call for a Rate Quote Today - Specialists available!

Easy Doc Apartment Programs

Easy Documenataion convetional apartment mortgages do not require tax returns or leases. Rates are also the lowest in the market. Interest Only options available. These loans have a 1pt fee and we are unable to increase the rate to remove this fee. These loans have a step down pre-pay and are available from $500k to $10MM+

Debt Coverage Ratio: 1.15 purchase, 1.20 refinance

DCR Cusher
Programs in California
5-15units only

The Debt Coverage Crusher was designed for smaller unit apartment buildings, usually self managed, apartment properties in California. These properties can be operated at a lower expense than larger units, usually have large annual rent increase capabilities, and their sales comparicson approach values usually exceed their income approach.

The borrower's Debt to Income (DTI) ratio is taken into consideration including all business and personal income and debt. The borrower must be an experienced apartment owner and have good cash-flow.

This program allows a negative debt cover from 10 to 20% (0.90-0.80 dcr) on the subject property

Commerial Building Mortgages

Fixed Hybrid Commercial Building loans are available: 3-year, 5-year, 7-year, and 10-year fixed amortized over 30years with no balloon. We have the lowest rates in the industry as we track every lender in the market and offer you the lowest rates available. Interest Only Commercial Mortgages available. Progams have step down pre-pay; No pre-pay programs available, and No point loans available!

Loans from $500,000 - $10MM+
Debt Coverage Ratio: 1.15 purchase, 1.20 refinance

Owner Occupied
Commerial Building Mortgages

Owner Occupied Commercial loans to 80% LTV. These programs are full documenation and require 3-years of tax returns and YTD financials. Stated Income is available on a case by case and pricing is affected accordingly.

Conventional with Fixed programs: 3-year, 5-year, 7-year, and 10-year fixed amortized over 30years with no balloon. SBA 7A available as one loan to 90% financing. THE SBA FEE IS WAIVED! SAVING YOU 2.5% in FEES! Up to 10-year fixed from Prime + 0.00% to Prime + 2.5%

Loans from $500,000 - $10MM+

Debt Coverage Ratio: 1.00 purchase, 1.00 refinance
Call for a Rate Quote Today - Specialists available!

Small Balance Commercial
Investment & Owner Occupied




SBA 10-year Fixed
One Loan 90% LTV
No SBA Fees!

Owner Occupied Commercial loans to 80% LTV. These programs are full documenation or Stated Income on all types of properties including special use. Pricing is affected by going stated and the type of property.

Stated Income to 80% LTV and 90% CLTV - Grocery stores, conventience stores, carwashes, laundry mats, etc..

Fixed programs: 3-year, 5-year, 7-year, and 10-year fixed amortized over 30years with no balloon. SBA 7A available as one loan to 90% financing. THE SBA FEE IS WAIVED! SAVING YOU 2.5% in FEES! Up to 10-year fixed

Prime + 0.00% to Prime + 2.5%Loans from $500,000 - $10MM+
Debt Coverage Ratio: 1.00-1.15 purchase, 1.00-1.25 refinance

Fannie Mae FHA Other
Fannie Mae
Fannie Mae is a government sponsored enterprise that was formerly called Federal National Mortgage Association (FNMA). It provides a wide range of Apartment Loans.
DUS
Adjustable Rate Apartment Mortgage

Short and long-term adjustable rates for apartment building refinance, purchase or construction, well-located multifamily properties

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DUS
Discounted Mortgage Backed Security (DMBS)

Large single loan of at least $25 million or a pool of loans totaling $50 million filled over a 12 month period. Properties in DMBS pools must have common control, not ownership, and there is no requirement for cross collateralization or geographical diversity.

This variable-rate financing alternative benefits property owners seeking the lowest pay rate. Loans are funded through the issuance of a DMBS, which is sold at a discount and recast at par every 3, 6 or 9 months in lieu of a stated interest rate. With current all-in rates below 2.5%, the DMBS can result in substantial cash flows and huge savings over the life of the loan.

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Forward Commitment - Conventional

To-be-built or substantially rehabilitated apartment buildings - underwritten so that 51% of the units are affordable to tenants earning 100% of median income. No actual income or rent restrictions are placed on the apartments; however, coverage calculations will assume these rent levels.

Loan processing and closing are coordinated with a construction lender prior to construction start. The permanent loan rate may be fixed prior to start of construction through Fannie Mae cash purchases. Lender provides a letter of credit to Fannie Mae during construction and lease up.

Alternatively, permanent loan proceeds may be invested in a guaranteed investment contract during construction, with construction lender funding a separate loan.

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Forward Commitment -
Affordable

To-be-built or substantially rehabilitated apartment buildings that have tenant income or rent restrictions based on tax-exempt bond requirements or low income housing tax credits. Loan processing and closing are coordinated with qualified Construction Lender prior to construction start.

Permanent loan rate may be fixed prior to start of construction through Fannie Mae cash purchase, or sale of tax-exempt bonds. Construction lender provides letter of credit to Fannie Mae during construction and lease up.

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Negotiated Transactions

Single-asset or pool transactions - refinance, acquisition and moderate rehabilitation of large loans or a portfolio of loans for garden, mid-rise and high-rise apartments, cooperative properties, seniors housing and assisted living properties.

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Fixed or Variable
Bond Credit Enhancement

Long-term AAA credit enhancement for well maintained and well located garden, high rise, or mid-rise multifamily properties. This highest rated enhancement is available to refund current tax-exempt or enhance fixed or variable rate bonds.

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Low-Income Housing
Tax Credits (LIHTC)

Permanent financing for aparment properties constructed or rehabilitated using Low-Income Housing Tax Credits (LIHTC).

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FHA Insured Loan Programs
FHA, or the Federal Housing Authority, insures apartment loans originated by FHA approved lenders for the construction, substantial rehabilitation, and acquisition and refinancing of apartments and health care facilities.
Apartments:
New Construction /
Substantial Rehab
Section 220, 221(d)(4), and 221(d)(3)

New construction or substantial rehabilitation of apartment and seniors (no services) properties that are a minimum of 3 years old.

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Apartments:
Acquisition or Refinance
Section 223(f)

Acquisition or refinance of constructed or substantially rehabilitated multifamily or seniors (no services) properties that are a minimum of 3 years old.

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Healthcare:
Acquisition or Refinance
Section 232
Pursuant to 223(f)

Acquisition or refinance, with or without repairs, of existing projects not requiring substantial rehabilitation. Eligible properties must be a minimum of 3 years old and may include intermediate care, board and care, residential care, assisted living, and skilled nursing facilities.

Additional property types may include limited adult day care or independent living. Financing is not available for properties charging substantial up-front admission fees. No equity take-out is permitted.

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Healthcare:
New Construction /
Substantial Rehab
Section 232

New construction, expansion or substantial rehabilitation of intermediate care, board and care, residential care, assisted living, and skilled nursing facilities. Additional property types include limited adult day care or independent living. Financing is not permitted for properties charging substantial up-front admission fees.

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Healthcare:
Alterations, Repairs or Improvements
Section 241

Improvements or additions to multifamily properties, nursing homes, assisted living facilities, intermediate care facilities or group practice facilities with existing mortgage insurance under any section of Title II of the National Housing Act.

Additional financing options include FF&E for nursing homes, assisted living facilities and group medical practices.

Section 241 financing may also be used to fund the replacement of obsolescent equipment or new equipment for healthcare facilities.

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Streamline Refinance
Section 223(a)(7)

Lower the interest rate, the debt service coverage and/or provide additional funds to cover project improvements for apartment or nursing home properties already insured under the 223(f), 221(d)(3), 221(d)(4), 220, 232, and 241 insurance programs.

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Other
Single Tenant Properties and
Owner Used Properties

Aquisition or refinance of real property in the United States that is 1) 50% or greater owner occupied, or 2) 75%-100% occupied by a single tenant or owner user.

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Bridge Loans

Pre-leased and speculative development of new commercial or apartment properties, or renovation and repositioning of existing properties. Flexible loan structure, pricing, loan to cost ratios, and recourse requirements.

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