Life Insurance Company Commercial Mortgage Loans

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Life Insurance Company Loans

$2MM & Up

ICS provides commercial and multifamily mortgage financing through Life Insurance companies, including 5 to 30-Year Fixed terms, up to 30-year amortization, and flexible prepayment options. Life Company commercial and multifamily property loans offer extremely competitive rates, typically lower than an institutional bank on office, retail, and industrial properties, and equally competitive with Fannie and Freddie rates on multifamily property loans. Life Co loans are available for stabilized multi-tenant and single tenant properties nationwide.

Multifamily, Office, Retail, Industrial


Permanent Financing


Life Co Loans are recommended for borrowers intending to hold the property for 5 or more years before selling or refinancing. Income producing properties must be performing at a DSCR of 1.2x or more. These loans have the strictest underwriting guidelines, while offering the best market rates available for qualified properties and borrowers.


Recourse and Non-Recourse options available.


Life Company commercial and multifamily loans have a prepayment penalty, usually through the second to last year of the initial fixed period. Step-down and yield maintenance prepayment options are available with customization.


Available for 1st mortgages starting at $3,000,000. Exceptions are available for smaller loans depending upon market, property condition, financial performance, sponsor's schedule of real estate owned, and other underwriting factors.


45 to 60 Days


6 to 9-months mortgage reserves are required.


A strong schedule of real estate owned is essential, and/or substantial equity in assets equal to or greater than the loan amount.


Multifamily 5+ Units: 5, 7, 10, 12, 15, 20, 25, and 30-year terms. 15, 20, 25, and 30-year amortization.

Office: 5, 7, and 10-year fixed terms. 15 and 30-year amortization.

Retail: 5, 7, and 10-year fixed terms. 15 and 30-year amortization.

Industrial / Warehouse: 5, 7, and 10-year fixed terms. 15 and 30-year amortization.


Loans can be structured as full-term, balloon, and hybrid. Full-term loans amortize over the life of the loan, and are paid in full upon loan maturity. Balloon mortgages are fixed-rate loans with a balloon payment due at the end of the initial term. Hybrid loans have a fixed-rate for the initial fixed term, then adjust annually or semi-annually through the remaining loan term. For example, a 10-year fixed hybrid mortgage is fixed for the initial 10-years, then adjusts annually or semiannually through the remaining 30-years. A 10-year fixed balloon mortgage is fixed for the initial 10-years, with the loan balance due in full at the end of the 10-year period. A 30-year fixed mortgage is fixed for the entire 30-years, paid in full at loan maturity.

Full-Term: Higher rate providing the most security. Loan is fixed for the entire loan term.

Balloon: Lower rate than a full-term loan. Property must be refinanced or sold by the end of the term.

Hybrid: Lower rate than a full-term loan. Borrower has the benefit of a low fixed-rate loan during the initial term, can ride the adjusting rate after the initial fixed-term through loan maturity, or sell/refinance.




Approval and interest rates are primarily based upon the net operating income of the property and LTV. The property must show it has been operating at a net operating income over the last 12-months to support the DSCR at the proposed market interest rate. 


  • Rent Roll
  • P&L / Last 12 to 24-months
  • Borrower 1003 or Personal Financial Statement
  • Schedule Real Estate Owned
  • Bank Statement(s) Verifying Down Payment/Reserves
  • Minimum 3 Quality Property Photos
  • 2-years personal and business tax returns