permanent mortgage

permanent mortgage

A mortgage for an extended period of time, usually 10 to 25 years.

References in periodicals archive ?
Barry Swartz closed a permanent mortgage in the amount of $8,000,000 for two 6-story apartment buildings with a total of 50 units on East 67th Street in Manhattan.
Extending the period between the earliest credit documentation and sale of the permanent mortgage to 18 months will be enormously helpful to lenders who want to give their borrowers the greatest available flexibility in sound home financing," explained Mullings at MBA's 93rd Annual Convention & Expo in Chicago in October.
6 million in fixed-rate permanent mortgage financing to fund the acquisition of three 150-bed nursing and rehabilitation centers.
Then, when construction was completed, MMC would provide the home purchaser with permanent mortgage financing.
Barry Swartz closed a permanent mortgage in the amount of $6,350,000 for a package of three mixed use buildings on Sixth and Seventh Avenues in Manhattan.
Richard Pergolis closed a permanent mortgage in the amount of $3,500,000 for a single story commercial building on 86th Street in Brooklyn.
Barry Swartz closed a permanent mortgage in the amount of $25,250,000 for a package of 6, five story apartment buildings with a total of 350 rooms on West 103rd Street and West 108th Street in Manhattan.
Michael Volpe closed a permanent mortgage in the amount of $1,200,000 for a five unit residential apartment building on Eagle Street in Brooklyn.
Barry Swartz closed a permanent mortgage in the amount of $4,000,000 for a five story walk up apartment building containing 8 units and one store located on Mulberry Street in Manhattan.

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