 | MINIMUM
LOAN:
$10,000,000.00 (below case by case
basis) |
|
| LOAN
TERM:
3, 5, 7 or 10 Years |
|
| AMORTIZATION:
Up to 30 Years |
|
| MINIMUM
DSCR:
1.35x to 1.45x |
|
| MAXIMUM
LTV:
case by case |
|
| 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:
Case by Case. In Some 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) |
|
 |
| CONSTRUCTION
FINANCING:
Not available at this time |
|
|
