HOTEL MORTGAGE
BROKERS FOR YOUR HOTEL PROPERTIES
Our Hotel Mortgage Brokers Can
Help You With The Following Types of Properties:
Post-1980 construction preferred or properties with substantial rehab and maintenance. Properties should have stable or increasing RevPAR.
Our Hotel Mortgage Brokers Can Provide You With The
Following Loan Type:
Balloon mortgages with a 5, 7, 10-year terms
Amortization:
Up to 25 years
Preferred
Loan Size:
$2,000,000 or larger
Maximum
Loan:
Amount equal to the lessor of:
- 65% -75%* of the appraised value
- 1.40 - 1.60* debt service coverage
Interest Rates From Our Hotel
Mortgage Brokers Are:
Determined by market rates at the time of rate lock.
Rates vary by loan-to-value ratio, debt service coverage
and property quality.
Personal
Recourse:
Non-recourse for secondary market loans
Full-recourse for portfolio and private money loans
Pre-payment:
Varies (from none; to yield-maintenance or defeasance)
Closing Expenses From Our
Hotel Mortgage Brokers:
Standard transaction costs
Preliminary Submission Package:
- Property description
- Color photographs
- Year-to-date income statement
- Prior years income statement
*Depending on age and condition of property
For more information about our hotel mortgage brokers, contact us today.
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