HOTEL PROGRAM PARAMETERS

Loan Term: 

Loan maturities are normally ten years. Other maturities will be determined based on your specific case.

Loan Amortization: 

30 year amortization

Debt Service Coverage Ratio (DSCR): 

DSCR of 1.35:1 dependent upon property type, physical condition, age, location and competitiveness of market position

Loan to Value Ratio: 

Up to 70% with Limited Service or up to 80% with Full Service of MAI appraised value conforming to FIRREA and USAO guidelines and up to 75% with limited service or up to 85% (full service) of loan to acquisition cost (if applicable).

Loan Escrows: 

The borrower will typically contribute monthly to an escrow account for real estate taxes and property insurance. The borrower will usually also establish a monthly capital replacement escrow reserve equal to the greater of i. 4 % of gross revenues or II an amount to be determined by GMC on the basis of an engineering report and GMC's site inspection. These reserves may be waived or capped depending on your situation.