End Loan, often referred to as a Permanent Mortgage, is a financing process that replaces a construction loan or interim loan when a property is completed. This loan facilitates long-term financing once the project transitions from the construction phase.
A Loan Commitment is an agreement by a lender to provide a borrower with a specified amount of funding under specific terms at a future date. This commitment often includes a locked-in interest rate, providing certainty to the borrower.
Long-term financing, also known as permanent mortgage, involves a loan with a long repayment period, typically extending over several years or decades. This form of financing is commonly used for purchasing real estate or significant capital investments, and provides borrowers with stability and predictable payment schedules.
A permanent mortgage is a long-term financing option, typically over 10 years, used to finance the purchase or sustainment of a real estate property. It becomes fully amortized over time and is often used in conjunction with construction loans.
Preleasing involves obtaining lease commitments for a property prior to its availability for occupancy, often required for securing permanent mortgage financing.
