 |
 | MINIMUM
LOAN:
$2,000,000.00 (below case by case
basis) |
|
|
| LOAN
TERM:
5, 7 or 10 Years |
|
|
| AMORTIZATION:
Up to 30 Years. |
|
|
| MINIMUM
DSCR:
1.20x to 1.25x. |
|
|
| MAXIMUM
LTV:
75% to 80%. |
|
|
| INTEREST
RATE:
Fixed or adjustable
rate options on an actual 360 basis. |
|
|
| ELIGIBLE
PROPERTY TYPES:
Franchised
Hotels/Motels. |
|
|
| TAX
AND INSURANCE ESCROWS:
Monthly Deposits Required. |
|
|
| REPLACEMENT
RESERVES:
Monthly Deposits
Required. |
|
|
| RECOURSE:
In Most Cases
Non-Recourse With Standard
Exceptions For Fraud and
Misrepresentation. |
|
|
| REQUIRED
REPORTS:
MAI Appraisal,
Property Condition Assessment, Phase
I. Others if applicable. |
|
|
| PREPAYMENT:
No prepayment through
Year 4. Defeasance thereafter. |
|
|
| ASSUMABLE:
Subject to Approval
and Fee. |
|
|
| SUBORDINATE
FINANCING:
Mezzanine allowed
subject to approval. |
|
|
| RATE
LOCK:
1 day prior to
closing. Early rate lock option
available. |
|
|
| CLOSING
COSTS: Deposit
required for third party reports,
processing costs, title and legal.
Travel and other standard costs if
an when applicable. |
|
|
| ORIGINATION
FEE:
PAR to 3%. (In
Addition to Closing Costs). |
|
|
To
apply, click
here | to contact us click
here
|
