| Loan Amounts: |
$500,000 to $5,000,000 |
| Loan Amortization: |
Most loans are written with a 30-Year Amortization. |
| Loan Term: |
10 Years |
| Interest Rate: |
Fixed interest rates for 1, 3, 5, 7 or 10 years are available.
Loan then adjusts to a spread over one-year treasuries, adjusting
annually for the remainder of the term of the loan with no negative
amortization. |
| Debt Coverage Ratio: |
Minimum 1.25 X |
| Loan To Value: |
75% |
| Secondary Financing: |
Not permitted. |
| Personal Recourse: |
Required. Non Recourse available on an exception basis with an increase
in rate and fee, or reduced LTV. |
| Prepayment Fee: |
Varies with the length of the initial fixed rate period. Generally
not more than 3% nor longer than six years. |
| Yield Maintenance Period: |
There is none. |
| Up-Front Fees: |
Out of pocket expenses only. |
| Third Party Reports: |
Standard appraisals; Environmental transaction screen report; other
third party reports may be required when indicated by collateral inspection
and review of environmental report. |
| Replacement Reserves/Impounds: |
Generally there are none required. |
