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ELIGIBLE PROPERTIES:
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Designed for all major commercial property types: Land A&D,
Apartments, Industrial Buildings, Office Buildings, Mobile Home
Parks, Retail, Self-Storage, Mixed Use, Branded Gas Stations,
Franchise Restaurants and Single Tenant properties. |
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LOAN SIZES:
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$2 Million to $20 Million |
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INITIAL MARGINS:
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| Apartments: |
6 Mo. LIBOR 2.50% - 3.25% |
| Commercial: |
6 Mo. LIBOR 2.75% - 3.50% |
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| Apartments: |
Prime Rate +.25% to 1.00% |
| Commercial: |
Prime Rate +.50% to 1.25% |
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AMORTIZATION:
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Interest only. Interest Reserve: Yes, is part of the loan
structure. |
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TERMS: |
Up to 2 years (with ability to convert to permanent 10 yr. term) |
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LOAN TO COST: |
Maximum 75% to 80% depending on the transaction. |
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EARN-OUT: |
Upon stabilization, FBBH can provide additional equity to the
borrower, supported by the value. |
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CONVERSION LOAN FEATURES: |
Upon stabilization, borrower can convert to market margin and
fix the rate with FBBH. |
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LOAN-TO-VALUE: |
Up to 75% loan to value depending on the transaction. |
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RECOURSE:
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Recourse is structured depending on the transaction. |
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PREPAYMENT:
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None |
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LOAN FEES:
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Each transaction is priced separately, typically .50% to 1%. |
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REPORTS:
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Appraisal, Phase 1 Environmental. (Additional reports may be required
for larger transactions.)
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CLOSING:
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30-45 days. |
The above margins and guidelines are for
informational purposes only and are subject to change according to
perceived credit risk.
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Lending Representative Contacts
800-515-1616 Option 3
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