| No
Balloon Loan Program |
|
|
Qualifications:
|
Commercial
& income producing real estate.
Max loan is $3.5 million.
|
|
Property Types:
|
Multifamily Apartments
Mobile Home Parks
Multi Tenant Retail
Multi Tenant Industrial
Self Storage
|
| Term: |
Self-liquidating 25-year
loan. THERE IS NO BALLOON
and no need to re-fi OR reset an interest rate every 3 or
5 years
|
| Index: |
10-year T |
| Spread: |
The rate is fixed
for the entire term based on a 265 spread over the index. |
| Amortization: |
Fully amortizing
over 25 years
|
| Recourse: |
Recourse on the top 25% of
the loan based on "first loss"
|
| Asset Quality: |
A, B & C properties are all
acceptable and priced the same
|
| Exit Fee: |
This is a Non-Defeasance
product with a 2-year lockout then 5/4/3/2/2/2 pre-payment
penalty with 1% exit fee for the balance of the term.
|
| Loan to Value: |
90% CLTV
|
| |
|
|
| Origination Fee: |
1.00% of loan amount
|
| Required Reports: |
Phase I Environmental Assessment
Report
Physical Condition Assessment Report
MAI Appraisal
|
| Lockout: |
2-years
|
| Reserves: |
To be determined after property
review.
|
 |
Bison Financial Group,
Inc.
449 Central Ave., Suite 204
St. Petersburg, FL 33701 Phone: 727-289-4400
Fax: 727-289-4401
e-mail: Dave@BisonFinancial.com
|
