Permanent loans are typically between 3 and 10 years but can sometimes extend to 15, 20 and even 30 years. Amortization will range from 15 to 35 years with some lenders offering interest only. Fixed rate loans are priced over T‐Bills, Swap index, or both. Floating rate loans are priced over Wall Street Journal Prime Rate, LIBOR, 12 MAT, or 11th District Cost of Funds. Loan to Value varies with sponsorship, asset quality, and property location. Permanent loans are best suited for stabilized properties. However, properties that are near stabilization will often time qualify for a permanent loan with certain reserves or holdbacks structured into the loan.