Prime Mortgage Rate Cycles
With interest rates being so low in recent years, it is easy to forget that mortgage rates fluctuate somewhat regularly. The following chart tracks this data to remind us of past cycles and that even when rates were “High” we still did business….. Best!
Prequalification for a Loan
The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified Buyer™ designation identifies a person or persons as having submitted, the required proofs and documentation for verification […]
Reporting Agencies and Credit Reports
Note: This material is being provided for general information purposes. This overview is intended to alert the reader to the importance of managing his/her credit. General guidelines, material, and other information are being provided as a courtesy. No representations or warranties are made as to the accuracy or processes covered herein. The Credit Tier Examples […]
Viable Vs. Lifestyle Inns
Commercial real estate financings are generally presumed to be serviced by the income from commercial property ONLY, as such a Debt Service Coverage Ratio (DSCR) is used to underwrite the loan. The DSCR or debt service coverage ratio is the relationship of a property’s annual net operating income (NOI) to its annual mortgage debt service […]
Financing a B&B / Country Inn
All Bed & Breakfasts/Inns are unique by design. In fact, it is that unique quality that separates one Bed & Breakfast/Inn from the next. Innkeepers invest their energy and capital over time to create a welcoming and hospitable environment that is special to them, their community and valued guests who appreciate the inn and the […]
Country Inn / Bed & Breakfast Loan Prequalification Vs. Preapproval
A Preapproval differs from Prequalification in commercial lending, in that the “Preapproval” is issued after a preliminary underwriting determination has been made. The buyer’s qualifications, and the data from the commercial property are combined to assess the risks versus the merits of the loan application. Financial records on the business/property being acquired will be needed […]
Country Inn / Bed & Breakfast Loan Prequalification Check List
List of items required to begin the Buyer Prequalification Certification Process: Commercial Loan Application Borrower’s Financial Statement/s Verifiable Proof of Assets to be applied to down payment and reserves e. Checking Account/s Savings and Investment Statements 401k/IRA Statement/s Three (3) Years Borrower’s Personal Tax Returns Resumes for all Principals Borrower’s credit report/s with credit scores […]
Country Inn / Bed & Breakfast Loan Prequalification
The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they really have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified Buyer™ designation identifies a person or persons as having submitted, the required proofs and documentation for […]
Prequalified Buyers
The Prequalified Buyer designation was designed to provide Aspiring Innkeepers a credible way to quantify how much purchasing power they have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. The prequalification process reviews a complete an application, personal identification such as driver’s license/s, passports& visas, financial statement/s, […]
