> Online Banking Sign-on

Commercial Real Estate Loans



Whether for your own business, or for investment, The Island is your direct source for long-term, permanent commercial real estate loans. Financing is available for commercial/industrial sites, office buildings, multi-family units, and retail centers

  • Loan amounts up to $15 million
  • Fast turn around by local decision makers
  • Convenient automatic deduction of payments from your Business Checking

Call (800) 293-6494  |  Find a branch

Rates effective
Rate Index   ARM Period
Start Rate Floor Margin Life Max
1 Yr ARM 3.7500% 3.7500% 2.7500% 6.7500%
3/1 Yr ARM 4.1250% 4.1250% 2.7500% 7.1250%
5/1 Yr ARM 4.6250% 4.6250% 2.7500% 7.6250%
7/1 Yr ARM 5.0000% 5.0000% 2.7500% 8.0000%
10 Year (5+5) 4.6250% 4.6250% 2.7500% 7.6250%

Terms & Conditions

The quotes above assume a one point loan fee and a 3-3-2-2-1 prepayment penalty. We can also provide customized quotes with terms that align with your pricing priorities. For example we could waive the prepayment penalty altogether for a slightly larger increase. We can also negotiate a higher or lower loan fee with corresponding adjustments in the interest rate.
Please note that the prepayment penalty cannot be waived on loans with par pricing (0 points) and that an application fee will also apply on par priced loans.
The rates above are based on loans over $1,000,000. For smaller loans, a higher rate may apply. Call to inquire.

Special pricing may be available for SBA 504 Loans for members that maintain their primary business deposit relationships with North Island. The start rate would be 0.25% lower than the rates listed above. SBA 504 loans do however, include an additional 0.50% loan fee.
Generally loans balloon in ten years and are amortized over 25 years (exceptions may apply for newer, recently renovated properties) with up to 30 year amortizations for apartments.
*The maximum LTV for Purchases and Rate & Term Refinances is 75% (90% on SBA). For Cash Out Refinances, the percentage is reduced to 70%. Other adjustments to the LTV may be made based on the type and condition of the property.

Call Business Services at (800) 293-6494 to discuss the details of your loan request and our various Pricing Options. The above quoted rates assume solid underwriting factors including adequate loan to value, strong cash flow, acceptable credit scores, and secondary repayment sources.
In addition to the loan fee, the following fees may apply (does not include additional fees charged through third parties, including, but not limited to, escrow or title):

Credit Report$75 per report
Environmental Report (if Phase I , II or Environmental Insurance is not required)$495 min.
Tax Contract$85 up to $500K (add $10 per $100M thereafter)
Flood Certification$50 per building
Loan Documents$1500 ($100 redraw)
Non-refundable Application Fee (Minimum)$5,000
SNDA's$20 per agreement
Wire Fee$15 per wire

Fees for Appraisal, Escrow, Title Insurance and Environmental (For example, Phase I or II or Environmental Insurance) as quoted.
Programs (including but not limited to fees, rates, and features) are subject to change without notice.