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COMM II
| Loan Type: |
Full Documentation |
| Loan Amount: |
$1,000,000 - $10,000,000 |
| Term: |
10 years |
| Amortization: |
25 years |
| Minimum DCR: |
1.40x |
| Maximum LTV: |
70% on Purchase; 65% on Rate/Term and 60% on Cash-Out Refinance |
| Interest Rate: |
Fixed Hybrids – 3 year fixed, 5 year, 7 year or 10 year; floating after fixed period up to the 10 year term |
| Origination Fee: |
None; can pay points to buy rate down |
| Eligible Properties: |
Flagged Hotel/Motels Only (Full and Limited Service) |
| Eligible Borrower: |
Single-asset entity |
| Recourse: |
Full recourse to Sponsor |
| Prepayment Penalty: |
Corresponds with the fixed period term of loan; declining |
| Assumable: |
Subject to approval and a 1% fee |
| Subordinate Financing: |
Not allowed |
| FICO Score: |
>= 660; middle score of a tri-merged credit bureau report |
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