Commercial Real Estate Loans

• Competitive rates for the purchase, refinance, or construction of commercial properties
• Available for owner-occupied or investment properties
• Lending professionals with working knowledge of the Greater Syracuse real estate market
• Accommodating repayment terms, typically between 15 and 20 years
• Quick, local decisioning right here in Central New York
• Attentive, friendly service from start to finish

Our Residential Builder Loan Program is offered to experienced local builders and developers. 

• Subdivision construction loans
• Construction loans for single family contract houses
• Competitive interest rates and closing costs
• Loan advances based on percent complete
• Accommodating repayment terms that work for your business
• Quick, local decisioning right here in Central New York
• Attentive, friendly service from start to finish

We can provide financing for short-term construction loans or for a combination construction loan that converts to a permanent mortgage upon completion. This not only simplifies paperwork, it can save thousands in closing costs. 

• Available for short-term construction or conversion of permanent mortgage upon completion
• Periodic draws on amount
• Competitive interest rates
• Save thousands on additional closing costs
• Accommodating repayment terms that work for your business
• Quick, local decisioning right here in Central New York
• Attentive, friendly service from start to finish

Solvay Bank has the service, support, and options you need.

When you are presented with an opportunity to purchase investment property, it’s important to act quickly.

We’re proud to offer local experience and service — providing you with solutions for funding and support for your questions when you need it.

Property Types

Funding for nearly any investment property or construction project:

• Apartments
• Office
• Retail
• Mixed use
• Warehouse

Loan Types

• Construction
• Interim
• Permanent (maximum term 20 years)

Loan Amounts

• Amounts range from $100,000 to $3,000,000.

Need more? Ask us about participations with other upstate New York community banks.

LTV Ratios

• Depending on property type and project leasing status: 75%–80%

Minimum DSC Ratios

• Depending on property type: 1.20x–1.40x

Recourse required from financially responsible property owner(s).

Interest Rates & Fees

• Construction & Interim Loans: Variable tied to Solvay Bank Prime
• Permanent Loans: Rate reset every 5 years determined by negotiated spread over 5 year UST
• Loan Fees: Range from 0.5%–1.0% of loan amount

Equity Requirements

• Depending on property type: 15%–25%