Hotel motel flagged project financing is available from Mortgage Cap Financial.
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Mortgage Capital Financial
PHONE: 212-631-4272 | CALL TOLL FREE: 1-800-689-0706 | FAX: 212-208-3069
email us

Hotel / Motel Flagged Project Financing

FLAGGED HOTEL / MOTEL PROPERTIES

Quality Properties and Borrowers

Loan Amounts:          $2,000,000 - $10,000,000

Term / Am:                  10 year term with 25 year amortization

Loan Types:               10 year fixed rate loans for property acquisition and refinance 

Loan to Value (LTV): 70 percent maximum for purchase or refinance (no cash out). 65% maximum if cash out refinance unless being used to enhance value of property.

Recourse:                  Full recourse for this particular program, non recourse loans may be available at different rate, terms and conditions and may have yield maintenance prepayment penalties, this particular program have different prepayment penalty scenarios are dependent upon the specific project.

Origination Fees:      NONE

Loan Fees:                 2 to 4 points

Rates:                         10 yr fixed rate w/ 25 year am: 6.5% to 7.5%

Pre-qualification:      Completion of our loan submission form, once reviewed and there is interest the documentation below  will be requested.

Commitment Letter: Within 7-10 days of receipt of complete loan package.

Funding:                     30 to 45 days from Commitment Letter.

NOTE:  

-     Good credit and cash flow. DCR: 1.3 minimum.

-          Established properties only. No turnarounds, startups or construction.

-          Value based on lower of purchase price or appraisal, if purchase.

-          Borrower must be experienced or hire recognized hotel management company.

Please note that we have other hotel/motel financing programs that will review turnarounds, both franchised and non franchised hotels and motels, rates and terms are subject to change and underwriting.

NEEDED TO PRE-QUALIFY:

-          Last 3 years property tax returns.

-          Year-to-date financial statements.

-          Current credit bureau with FICO on Borrowers.

-          Executive Summary from latest appraisal.

-          Current Personal Financial Statements for Borrowers.

-          Latest personal tax returns from Borrowers.

-          Digital photos of property, or web site with photos.

-          Last 3 years occupancy annual reports.

-          Year to date occupancy monthly reports.

-          Amount of loan request.

-          Detailed use of funds.

Click here for Loan Submission Form, please complete and
e-mail or fax back to us so we can review your project (in Word).
or in Adobe Acrobat format

Loan Types | Information Needed | Construction Loan Documents | Property Types

Commercial Loan Application Forms | Business Loan Program | Commercial Real Estate Loans

Construction Financing Program | Fixed Rate Financing Program | Real Estate Financing Program | Joint Venture Funds

Rental Properties Checklist | Income Properties Checklist | Construction Lender Checklist


Mortgage Capital Financial
PHONE: 212-631-4272 | CALL TOLL FREE: 1-800-689-0706 | FAX: 212-208-3069
email us
Loans provided are only for business and investment purposes.  Only business and investment property and other business assets can be used to collateralize any business and / or real estate loan request.  Funds can not be used for any personal purposes and can be only used for commercial business and investment purposes. Borrower may be required to use single purpose borrowing entity which could take the form of a limited liability company or corporation.  The first step to begin to see if there is an interest in your business or real estate financing request is to complete the Loan Submission form and either e-mail or fax back to Mortgage Cap Financial.
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Last update 01/01/08
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