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Program 09

CRE Permanent in Galveston

Long-term commercial debt for a coastal, two-market county.

Long-term, permanent financing for stabilized commercial real estate. We place it in house through agency multifamily channels (Fannie Mae and Freddie Mac), insurance funds, and other wholesale sources. Galveston County splits into an island hospitality and tourism market and a mainland refinery and logistics market, and the right permanent structure depends on which one your asset sits in. When a deal needs to stabilize first, we can bridge it and refinance into permanent debt once it does. Business-purpose only, and every structure is set in underwriting.

CRE Permanent in Galveston, TX from USA Mortgage
Agency
Fannie/Freddie
Long-term
fixed
Multifamily
& commercial
Wholesale
channels

Typical figures, subject to underwriting and market conditions. Not a commitment to lend.

How it works

For a stabilized asset ready for permanent debt, we shop your file across agency multifamily programs, insurance companies, and wholesale lenders, then place the structure that fits your hold. When a deal needs to stabilize first, we can bridge it and refinance into permanent debt later.

Who it's for
Stabilized multifamily 5+
Commercial and mixed-use
Agency permanent debt
Refi out of a bridge
Typical terms
PropertyStabilized commercial
ProgramsAgency, insurance, wholesale
TermLong-term permanent
RateMarket permanent rates
UseAcquisition or refinance
Best forLong-term holds
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*Typical terms, subject to underwriting and market conditions.

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Local FAQ

CRE Permanent in Galveston, answered.

What's the demand story behind an island hospitality asset if I want to take it to permanent debt?
A cruise business getting stronger and a short-term rental base that has already peaked. Fitch upgraded the Port of Galveston's revenue bond rating to A+ from A on August 19, 2026, citing cruise growth and financial performance, on roughly $198.5 million of bonds, the strongest sourced signal available on the island's hospitality demand. Set against that, short-term rental hotel occupancy tax revenue fell from 52% of the city's total hotel tax collections in 2023 to an estimated 42 to 44% in 2025, so a permanent loan on an island STR or hospitality asset should be underwritten against that recent trend, not the 2023 peak.
How does wind insurance factor into a permanent loan on a Galveston County commercial building?
It sets a hard ceiling and a hard rule on how the premium gets paid. The Texas Windstorm Insurance Association caps commercial and public-building coverage at $4,424,000 per structure, effective January 1, 2026, with a standard 1% per item per occurrence deductible (2% or 5% options). Three out of four Galveston County homes already get wind coverage from TWIA rather than the private market, and this county is TWIA's single largest exposure in Texas, though that 75% figure is TWIA's residential share, so confirm what the private market will do on your specific commercial risk rather than assuming it follows the housing stock. A 2025 state law, HB 2518, also bars financing a TWIA premium through a premium finance company, so the wind premium is cash at closing or on TWIA's own installment plan, not something folded into your loan.
What's the case for a mainland Galveston County commercial asset instead of an island one?
A steadier industrial and refinery-payroll base, without the same insurance load. Texas City holds 856,000 barrels per calendar day of refining capacity as of January 1, 2026, including the second-largest refinery in the United States, and manufacturing here pays the highest average weekly wage of any large private sector in the county. Texas City and La Marque have also grown their population 10.7% and 9.4% since 2020, while the island city has stayed essentially flat, and the mainland does not carry the beachfront construction review or Landmark Commission overlay that slows an island project down.
If my Galveston County asset needs to stabilize before it can go to permanent debt, what slows that down?
Depends on where it sits, and it can be the insurance stack as much as construction. A downtown Galveston or Strand/Mechanic historic district building carries Landmark Commission review on rehabilitation, restoration, and demolition, which is a schedule item to price before you assume a fast stabilization. Separately, any structure that needs a wind certificate has to clear TWIA's own eligibility gates, including a certificate of compliance and being maintained free of unrepaired damage, before the policy that a permanent lender will want to see in place is bindable. We can carry a deal through that period on our Galveston CRE bridge loan and move it to permanent financing once it stabilizes.

More CRE Permanent questions, answered on the program page

Resources

Guides for CRE Permanent

Bridge · 4 min read
What Is a Bridge Loan in Real Estate?
Read the guide
SBA · 5 min read
SBA 7(a) vs 504: Which Is Right for Owner-Occupied Real Estate?
Read the guide
Bridge · 4 min read
Commercial Bridge vs Permanent Financing
Read the guide
Bridge · 5 min read
Bridge Loan Exit Strategies: How to Pay Off Short-Term Debt
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Browse all guides
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CRE Permanent vs. other options

Comparison
CRE Bridge vs CRE Permanent Loan
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Fix and FlipUp to 90% / 100% rehabRental / DSCR30-yr fixed, DSCR from 0.75Ground-Up ConstructionUp to 70% LTV, most statesCRE BridgeUp to $10M, 24-36 moTransactional FundingSame-day double-close capitalBank Statement / No-DocNo tax returns requiredConventional InvestmentNon-owner-occupied investmentPortfolio LoansMultiple properties, one loanSBA Financing7(a) & 504 placement
All Galveston loan programs
About the local figures on this page

Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.

Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-22.

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