ING Construction-Permanent Loan Program

Program Overview

ING construction to permanent lending program provides fixed rate construction loans that convert to permanent financing at the completion of construction. The program provides ‘one-stop shopping’ to the Borrower.

Program Highlights

Underwriting consistent with Core Loan program

• Cost Savings
• One closing for construction/permanent loans
• One set of due diligence reports
• Legal
• No points for forward rate lock

Time Savings

• One closing and one financial institution

Certainty of Execution

Favorable Economics

• Fixed rate during construction period.
• Pricing very competitive relative to floating rate/forward structure.
• Interest only during construction
• ½ point – 1 ½ point fee to ING

During Construction Period

• Loan administration by ING
• Third-party consulting engineer to advise on draws
• Draw requests processed in 5-7 business days