Loan Services: Hotel Refinance

 

Debt Service Coverage Requirement: Minimum 1.35X to 1 with spreads starting at 235 bps

Amortization: Full Service, Extended Stay and Limited Service are all eligible for 25-year amortization schedules

Term of loan available: Generally, 10-year terms, however, loans may be written for a term of as little as 7 years to a maximum of 15 years

Maximum Loan-to-Value: LTV requirements are 75% of appraised value

Prepayment restrictions: Loans are subject to being prepaid after the fourth year with Treasury Defeasance (the purchase of matching U. S. Treasury obligations maturing at the original final payment date).

Loan assumption: Loans are assumable subject to approval for a 1% fee to a qualified borrower

Commercial Finance Lender - California Dept. of Corporations

For more information, contact: William E. Cunningham, President.
Or, fill out an online application NOW!