Inn Financing

Conventional Financing

Loan Application

 

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

  • Appraisal – $2,500 to $5,000

  • 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