Hotel Loan and Hotel Lenders

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Conventional Hospitality Loans

We have access to some of the best programs in the market.  Loan to values on conventional programs can still go as high as 75% on rate and term refinances and up to 65% on cash out refinances. 

• Loan to Value is up to 75% of appraised value
• Free rate locks for 3 months
• Cash-out up to 65% of appraisal value
• Fixed periods from 3, 5, 7, 10 and 25 years.
• Loan amounts from $400,000 - $5,000,000

Hotel/Motel SBA 504 and SBA 7a

The 504 and 7A loan programs, which are guaranteed through the Small Business Administration (SBA) provides some of the best finance options for borrowers seeking acquisition financing (Note that it is possible to refinance a hotel via the 7a program if the borrower will save 20% or more on a cash flow basis). The primary benefit of the 504 program is twofold, high leverage (85% LTV), long term, fixed rate financing.  The 7a program is geared towards smaller loans but still provides high leverage purchase financing.   

Loan Structures

• Financing available on projects up to $10,000,000
• Bank financing typically provides a first mortgage of up to 50% of the total project cost.  This loan can range from $500,000 to $6,000,000.
• The SBA, through a Certified Development Company (CDC) provides up to
  35% of total project cost in a second lien position.  This loan can range from $300,000 to $2,000,000.

Terms and Interest Rates

• First Mortgage - up to 25-year term on your purchase with fixed and variable interest rates available.
• Second Mortgage - up to 20-year term for real estate.  Fixed rate is determined at SBA guaranteed 504 debenture sale

Fees

• First Mortgage - fees are always market competitive.
  Second Mortgage - approximately 2.75% + legal review fee. This fee is financed in the loan
• Fees also include customary closing costs, such as appraisal & environmental report, construction loan fees (if applicable), and bridge loans.

Hotel Loan Eligibility

Eligibility, pricing and loan programs boil down to the following:

• Management Experience
• Cash Flow Coverage
• Flagged or Un-Flagged Hotel
• Equity Injection (cash down)
• Location of prospective Hotel
• Personal Credit Score
• Total amount financed
• SBA or non-SBA loan

Get real answers now on your hotel mortgage by taking a few minutes to fill out the linked Pre – Approval form.  Or feel free to call to discuss your potential hotel loan. 

248 885-8797.  

STORE For Commercial Loan Brokers! Commercial Mortgage Training

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Commercial Finance Advisors, Inc.
(248) 885-8797 Phone
(866) 337-3141 Fax
http://www.cfa-commercial.com/
261 E Maple Rd
Suite 13
Birmingham, Michigan 48009

 

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