Hotel & Motel

L o a n s

7.50% Variable Rate

Loan Amount:         $1,000,000 Minimum

Loan to Value:         70% of appraisal value  

Term of Loan:         25/10

Interest Rate:           Prime Rate + 1.0   

Debt Coverage:       1.30

Pre-payment Fee:   Yes

 

Underwriting Guidelines:

·         Three-year income & expense of subject required.

·         Business must be profitable.

·         Management experience is important.

·         Occupancy factor must be taken into consideration.

·         Franchise Hotel Operations are more secured investment.

·         This is a conventional loan program for investor.

Rates and fees are subject to change without prior notice.

Credit is subject to approval.

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