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    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 & client testimonials:

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    $5,587,500
    purchase
    Fixed rate
    Retail
    10 Year Term
    Tempe, AZ

    “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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    $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

    “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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    $2,400,000
    Purchase
    Fixed rate
    Office
    10 Year Term
    Dallas, TX
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    $21,500,000
    Rate/Term Finance
    Fixed rate
    Multifamily
    3 Year Term
    Peoria, AZ
    CRITERIA

    Ready Capital provides competitive programs to meet a wide range of borrower needs. Contact one of our loan professionals for more information.

    Print
    Fixed Rate
    Property Types Primarily office, retail, multifamily, self-storage and industrial
    Rates Competitive rates priced off of SWAPs
    Loan Size $750,000 to $20,000,000 primarily
    Loan Purpose Refinance, cash out & acquisition
    Terms Loan terms for 2 years to 10 years
    Can consider other terms on case-by-case basis
    Leverage Up to 80% in select markets
    Recourse Non-recourse with standard carveouts
    Prepayment Flexible
    Can offer yield maintenance, step-down and up to 20% UPB
    Can be repaid on a rolling 12 month basis without prepayment penalty
    Debt Service Coverage As low as 1.20x
    Amortization Up to 30 year amortization
    Interest only available
    Origination Par
    Joel Covington
    Irving, TX

    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
    Back
    See most recent transactions & client testimonials:
    image
    $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
    • 2018
    • 2017
    • 2016
    Ready Capital Announces Merger with Owens Realty Mortgage - 11/08/2018
    READY CAPITAL ANNOUNCES MERGER WITH OWENS REALTY MORTGAGE   Approximately $200M of Additional Capital Raised to Support Targeted Growth in Small Balance Commercial Assets  Combined Company Will Enhance Shareholder Liquidity Transaction Expected to be Accretive to Earnings in 2019  Transaction Expect ...
    Sutherland Asset Management Corporation Announces Name Change To Ready Capital Corporation - 10/01/2018
    NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Sutherland Asset Management Corporation (NYSE: SLD) announced that, effective 12:01 a.m. Eastern Time on September 26, 2018, it will change its name to "Ready Capital Corporation". "The Ready Capital brand represents part of our larger strategy to improve sha ...
    ReadyCap Commercial Surpasses $3 Billion Funded Milestone - 08/14/2018
    IRVING, TEXAS – August 14, 2018 – In July 2018, ReadyCap Commercial, LLC (ReadyCap), a leader in small to middle-market commercial real estate mortgage finance, announced it surpassed  $3 billion in funded  loans across its menu of products in just five years. Founded in 2012 and headquartered in Ir ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $70 Million in Washi... - 07/31/2018
    NEW YORK – July 31, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Washington, Tennessee, North Carolina, Florida, New Jersey, Illinois, New York and California totaling approximately $70 millio ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $60 Million in Calif... - 05/24/2018
    NEW YORK – May 24, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in California, Colorado, Virginia, North Carolina and Texas totaling approximately $60 million. The Toluca Lake, California loan is ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for over $45 Million in Pennsylvania,... - 04/30/2018
    NEW YORK – April 30, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Pennsylvania, Florida, California, Michigan and Texas totaling over $45 million. The Philadelphia, Pennsylvania loan is for th ...
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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.

    View Open Positions
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