- 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
|
- ORIGINATION
FEE:
PAR to 3%. (In
Addition to Closing Costs)
|
 |
- CONSTRUCTION
FINANCING:
Not available at this time
|
|
