Construction Mini-Perm

Definition:
short-term financing generally used for new income-producing properties that are in the process of establishing the necessary operating history for long-term financing.

Examples:
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Funding Usage: shopping centers, office buildings, industrial properties, larger apartment complexes.

The financing provided by the Construction Mini Perm loan will generally last from the construction phase of the project to the rental stabilization phase of the project. The industry norm for the length of Construction Mini Perm loans are 3 to 5 years typically with a balloon payment paid by the borrower when the loan matures.

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