Security Bank (ASB) is an active lender
for construction loans on income producing properties,
and will provide short term and long term commercial
mortgages. General property types include; office,
industrial, retail, apartments, mobile home parks
and selective special purpose properties. Portfolio
mortgages are offered on 3 and 5 year fixed rates
turning adjustable over a 10 loan term. Loans
generally amortized from 20-30 yrs. Prepayment
penalties ranging from 3-5 yrs and loan structures
can be structured to meet clients need.
In addition, ASB provides construction
financing on custom residential homes, both speculative
and owner occupied, and finances small to medium
size housing tracts for experienced builders/developers.
Short term land loans are considered case by case.
The disbursement process is handled through ASB's
in-house fund control department.
General lending areas include most of the Southern
California Basin, and case by case, Northern California,
Nevada, and Arizona.
Loans generally range from $1,000,000 to $10,000,000.
ASB is also able to provide
long term fixed rate loans on a brokerage basis
through conduit lenders and life insurance companies.
Loan submissions from qualified Brokers are encouraged.