CONVENTIONAL LOANS for B&Bs, Historic Inns, Country Inns, and Boutique Hotels
Conventional loan programs offer the most attractive rates and terms. Best option for “Viable Hospitality Properties and Qualified Buyers”.
- Loan to Value (LTV) 75% to 80%
- 5 Year Fixed Rate
- 20 to 25 Year Amortization
- Loans up to $25 million
- 48 to 72 Hour Pre-Approval
- Closings in as little as 45 to 60 days
Note: The following conventional example is based on rates and available terms as of 3/20/2017. Rates and program availability may vary depending on risk factors, changing commercial rates, regional pricing variations etc.
Example Loan Amount – $1,000,000
- Minimum Down Payment – 20% to 25%
- Rate – 4.5%
- Fixed – 5 Years
- Amortization – 25 Years
Annual Principal & Interest – $67,233.48
Closing Cost Estimate:
-
1/2% to 1% Loan Origination Fee (may not apply)
-
Doc Preparation – $500.00
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Appraisal – $2,500 to $5,000
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Title Insurance – $6,000 to $7,500
TOTAL CLOSING COSTS – $11,000 to $13,000
Download Loan Application and Related Documents
Use your 401K Retirement Fund or IRA to Purchase or Refinance a Bed & Breakfast or Country Inn
