Fixed Rate Lending

OVERVIEW

Ready Capital offers fixed rate permanent loans to $25 million for multifamily, office, retail mixed use, self-storage, industrial and select other property types. As a non-bank capital source, we bring speed to the commercial lending process and help borrowers capitalize on more opportunities.

Ready Capital is one of the few non-bank commercial mortgage lenders providing financing nationwide. We are driven by our vision to provide customers with an unparalleled experience in small-balance commercial real estate financing. We leverage our team’s expertise to deliver flexible commercial lending solutions, quick closings and exceptional customer service.

Check out our most recent transactions and client testimonials:

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$1,050,000
Purchase
Fixed rate
Retail
10 Year Term
Conyers, GA
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$3,322,500
Rate/Term Refinance
Fixed rate
Multifamily
10 Year Term
Lilburn, GA

“The way you solved challenges was a breath of fresh air. I have not seen a lender in six years that showed the willingness to explore all of the options available…this was the best performance we have had with a lender in a long, long time. Thanks again.”

- Warren
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$5,200,000
Cash-Out Refinance
Fixed rate
Office
10 Year Term
Glendale , CA
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$4,500,000
Cash-Out Refinance
Fixed rate
Retail
5 Year Term
Fairfax Station, VA
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$5,587,500
purchase
Fixed rate
Retail
10 Year Term
Tempe, AZ
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$3,400,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Bronx, NY
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$1,391,000
Purchase
Fixed rate
Multifamily
10 Year Term
Various, GA
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$2,400,000
Cash-Out Refinance
Fixed rate
Retail
10 Year Term
Riverdale, GA
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$2,625,000
Purchase
Fixed rate
Office
10 Year Term
Westerville, OH

“The Ready Capital team was responsive throughout the loan process and they performed to our expectation. Inquiries were handled promptly and professionally from beginning to end. We anticipate a long and mutually beneficial relationship with Ready Capital going forward.”

- Zaya
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$9,445,000
purchase
Fixed rate
Multifamily
5 Year Term
Midvale, UT
$1,387,500
purchase
Fixed rate
Mixed Use
10 Year Term
Chicago, IL
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$750,000
purchase
Fixed rate
Multifamily
10 Year Term
Lakewood, CO
$1,080,000
Cash-Out Refinance
Fixed rate
Multifamily
5 Year Term
Forest Park, GA
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$4,250,000
Cash-Out Refinance
Fixed rate
Office
10 Year Term
Glendale, CA
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$7,000,000
Cash-Out Refinance
Fixed rate
Self Storage
12 Year Term
Kent, WA
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$1,965,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Various, OH
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$4,500,000
Rate/Term Refinance
Fixed rate
Office
10 Year Term
Chesapeake, VA
$2,100,000
Cash-Out Refinance
Fixed rate
Mixed Use
5 Year Term
Los Angeles , CA
$1,750,000
Rate/Term Refinance
Fixed rate
Retail
10 Year Term
Coral Gables, FL
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$7,500,000
Purchase
Fixed rate
Multifamily
10 Year Term
Oklahoma City, OK
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$1,687,500
Rate/Term Refinance
Fixed rate
Retail
10 Year Term
Pflugerville, TX
$900,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Greensboro, NC
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$3,325,000
Purchase
Fixed rate
Retail
10 Year Term
New Lenox, IL
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$3,400,000
Purchase
Fixed rate
Retail
10 Year Term
Lawrenceville, GA
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$2,065,000
Purchase
Fixed rate
Retail
10 Year Term
Kissimmee, FL
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$4,575,000
Purchase
Fixed rate
Retail
10 Year Term
Live Oak , TX
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$1,610,000
Rate/Term Refinance
Fixed rate
Retail
5 Year Term
Yuma, AZ
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$1,300,000
Purchase
Fixed rate
Retail
10 Year Term
Capitol Heights, MD
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$1,700,000
Cash-Out Refinance
Fixed rate
Industrial
10 Year Term
Pittsburg, CA
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$1,080,000
Cash-Out Refinance
Fixed rate
Mixed Use
10 Year Term
Clifton, NJ
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$1,400,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Paterson, NJ
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$15,000,000
Rate/Term Refinance
Fixed rate
Fixed Rate
10 Year Term
San Antonio, TX
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$2,650,000
Purchase
Fixed rate
Office
10 Year Term
Grand Prairie, TX
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$12,000,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Waxahachie, TX
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$2,000,000
Rate/Term Refinance
Fixed rate
Retail
5 Year Term
Evansville, IN
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$6,200,000
Purchase
Fixed rate
Retail
2 Year Term
Sacramento, CA
CRITERIA

PRODUCT OVERVIEW

  • $3MM – $25MM*
  • Flexible prepays including step-downs
  • Stabilized and near-stabilized properties
  • Custom structures
  • Major markets nationwide
  • Pricing starting in the 4%s
  • Acquisitions, refinance, recapitalization, cash out
  • 2 – 10 year terms (15 years on a case-by-case basis)
  • Up to 75% LTV
  • Minimum 1.25 DCR
  • Up to 30 year amortization for multi-family, 25 years for other asset types, IO on a case-by-case basis
  • Par to lender / YSP available
  • CMBS alternative
  • Non-recourse
  • Future funding, holdbacks and earn-outs
  • Light value add if cash flowing

*Lower and higher loan amounts considered on a case-by-case basis

Joel Covington
New York, NY

Joel brings nearly 20 year of experience to his role as Vice President of Originations for the Fixed Rate, Multifamily and Bridge programs. Prior to joining Ready Capital, Joel was a Vice President for Business Partners, now Extensia Financial, originating participation loans for credit unions nationwide. Joel graduated from Salisbury University with a B.A. in Finance and M.B.A in Business Administration.

Specialties:
  • Fixed rate
  • Bridge
  • Multifamily
See most recent transactions & client testimonials:
$4,700,000
purchase
Bridge
Office
3 Year Term
Houston, TX
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$1,700,000
Cash-Out Refinance
Fixed rate
Industrial
10 Year Term
Pittsburg, CA
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$3,925,000
Cash-Out Refinance
Fixed rate
Office
5 Year Term
Los Angeles, CA
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$2,600,000
Cash-Out Refinance
Freddie SBL
Multifamily
7 Year Term
Charlotte, NC
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$4,700,000
Cash-Out Refinance
Fixed rate
Multifamily
7 Year Term
Seattle, WA
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$1,550,000
Rate/Term Refinance
Freddie SBL
Multifamily
20 Year Term
Phoenix, AZ
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$10,000,000
Cash-Out Refinance
Fixed rate
Office
15 Year Term
Santa Monica, CA
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$4,250,000
Cash-Out Refinance
Fixed rate
Office
10 Year Term
Glendale, CA
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$3,500,000
Cash-Out Refinance
Fixed rate
Multifamily
5 Year Term
Seattle, WA
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$1,423,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Phoenix, AZ
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$7,936,500
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Various, TX
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$4,200,000
Cash-Out Refinance
Fixed rate
Multifamily
7 Year Term
Tacoma, WA
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$3,780,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Tacoma, WA
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$2,825,000
Cash-Out Refinance
Fixed rate
Multifamily
7 Year Term
Tacoma, WA
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$1,175,000
Cash-Out Refinance
Fixed rate
Mixed Use
10 Year Term
Brooklyn, NY
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$3,200,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Seattle, WA
$1,604,000
Cash-Out Refinance
Freddie SBL
Multifamily
5 Year Term
Henderson, NV
$1,460,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Kirkland, WA
$5,300,000
Rate/Term Refinance
Fixed rate
Industrial
10 Year Term
Spicewood, TX
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$1,189,000
Cash-Out Refinance
Freddie SBL
Multifamily
7 Year Term
New Orleans, LA
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$930,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Detroit, MI
$6,800,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Edmonds, WA
$3,200,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Bellevue, WA
$2,650,000
Cash-Out Refinance
Fixed rate
Retail
10 Year Term
Henderson, NV
$2,650,500
purchase
Bridge
Mixed Use
3 Year Term
Los Angeles, CA
$4,950,000
Rate/Term Refinance
Fixed rate
Industrial
10 Year Term
Valencia, CA
$4,945,000
purchase
Bridge
Mixed Use
3 Year Term
Sacramento, CA
NEWS
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
Ready Capital Corporation Announces Securitization of $652.5 Million in Bridge Loans - 09/02/2021
CRE CLO Securitization is the Company's Sixth Since Ready Capital’s Inception   NEW YORK, September 2, 2021, Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the closing of a $652.5 million commercial mortgage collateralized loan obligation ("CRE CLO") wit ...
Ready Capital Announces Acquisition of Red Stone - 08/03/2021
Leading Real Estate Finance Company Expands Footprint in Multifamily Affordable Housing Sector NEW YORK, August 2, 2021 -- Ready Capital Corporation (NYSE: RC) ("Ready Capital"), a multi-strategy real estate finance company that originates, acquires, finances and services commercial loans, today ann ...
Ready Capital Announces Strong Q1 Results for Freddie Mac Business - 05/10/2021
Commercial Lender Builds on Outstanding 2020 Results Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital c ...
Ready Capital National Bridge Team Closes Approximately $655 Million in 11 States in First Quarte... - 04/08/2021
NEW YORK, April 08, 2021 (GLOBE NEWSWIRE) -- Ready Capital’s National Bridge Originations Team announces the closing of acquisition, refinance, renovation and redevelopment loans for approximately $657 million in 11 states between January 2021 and March 2021. In January, Ready Capital closed the fin ...
Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans - 04/01/2021
 Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans CRE CLO Securitization is the Company’s Largest Since 2005 Inception   NEW YORK, April 1, 2021 -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") announced the closing of a $629 million c ...
San Francisco multi-housing lease up financed for $104M - 03/05/2021
SAN FRANCISCO, March 2, 2021 – JLL Capital Markets announced today that it arranged the $104 million refinance of City Gardens, a recently developed multi-housing property located in San Francisco, California. JLL worked on behalf of the borrower, Panoramic Interests, to secure the three-year, float ...
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CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

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