Rate is equal to margin plus the T-Bill Index Corresponding to the term of the balloon. Minimum Debt Svc. Rate is equal to margin plus the T-Bill Index Corresponding to the term of the balloon. Collateral and cash flow coverage requirements are determined on a case by case basis. Eligible property types include Hotels, Motels, Nursing Homes, Medical Office Condominiums, Mobile Home Parks, Funeral Homes, Convenience Store Gas Stations, anchored and unanchored Retail, Industrial and Office buildings.
Mortgages have prepayment penalties.
Closing, although not guaranteed, can occur as quickly as 30 days from receipt of all documentation. Closing, although not guaranteed, can occur as quickly as 30 days from receipt of all documentation. Borrower must be single asset domestic entity. Please see table below for approximate general criteria. Industrial 20,000 s.f.