Owner-Occupied Hospitality

A Hospitality property is a hotel or motel property which receives guests and visitors on primarily a daily/overnight basis. Limited-Service Hospitality properties with nationally recognized franchises (“Flagged”) are preferred.

Typical Properties:

Limited-Service Flagged Hospitality (preferred)
Full-Service Flagged Hospitality

Bed and Breakfast

Summary:

Product Type:	Owner-Occupied Hospitality
Property Type:	Limited-Service Flagged (preferred), B&B, Independent (OO100 program only), Full-Service. Franchises are classified A - D
Loan Amount (min/max):	$250,000 to $15MM
LTV (max):	65%
CLTV (max):	85%
Amortization / Term:	25 years
Minimum FICO:	650
Minimum DSCR:	1.20x - 1.35x
Non-Eligible:	Independent (on Flex 90), Ground Lease
Cash-out:	Allowed
Collateral:	Real Property and UCC-1 on FFE

Full Program Guidelines

Daily FHLB	1/6/09
Prime Rate	3.25%
90-day LIBOR	1.42%
6-Month LIBOR	1.79%
5-Year FHLB	3.43%
7-Year FHLB	4.32%
Weekly SWAP	1/6/09
5-Year SWAP	2.10%
7-Year SWAP	2.31%
10-Year SWAP	2.51%
Daily SWAP	1/6/09
2-Year SWAP	1.50%
5-Year SWAP	2.17%
10-Year SWAP	2.61%
Other Rates	1/6/09
SBA 504 Debenture Rate	7.171%
NMTC 25-Yr Fixed	0%