SPECIAL CONVENTIONAL LOAN 

For Owner-occupied Building up to

$10,000,000

 

Loan Amount:                $10,000,000

Down Payment :              20%

Interest Rate:                  Libor plus

Term of Loan:                25/10

Debt Coverage Ratio:     1.25

 

Underwriting Guidelines:

 

1. New owner must occupy 60% of subject property for his personal business use. 

2. Business cash flow and profitability is important factor of obtaining the loan.  Management experience, type and years in business are as well important.

3. Down payment, personal obligations and credit worthiness are important factors.

4.     Three years personal and business tax return is required.

5.     Business should be a for-profit corporation, partnership or proprietorship.

6.     Have historical or projected cash flow to cover debt service.

7.     Demonstrate management ability and good character.

 

*All financing is subject to credit approval.

*Other restrictions may apply.