Hotels - Underwriters Preferred

Hotels/Motels Property Types Include Full Service - Luxury - Full Service - Midscale - Full Service - Resorts - Limited Service - Midscale - Limited Service - Economy - Limited Service - Extended Stay View Today's Rates Loan Application
Loan Amounts	$1,000,000 - $300,000,000
Interest Rates	Fixed at the comparable Term U.S. Treasury, Key Index or SOFR Rate, plus competitive spreads. Early rate lock also available
Acquisition	Up to 90% of loan to purchase price
Amortization	Up to 30 years; older properties - maximum 25 years
Maximum LTV	Refinance: up to 85% (with cash out)
New Construction	Up to 100% LTC value (completed), including Purchase & Rehab
Minimum DSCR	as low as 1.15x for some properties
Appraisal Report	Required; a current summary appraisal format may be acceptable
Environmental	Environmental reports are not required: however, environmental insurance is required
Escrows	Required for monthly real estate taxes and property insurance; replacement reserves are underwritten but not collected; tenant improvements and leasing costs are generally not required but evaluated on a case-by-case basis
Non-Recourse	Except for standard carve-outs
Assumable	Subject to approval and a 1% fee
Security	First Mortgage on fee simple interest
Prepayment	Two year lockout from the time of securitization; defeasance for the remaining term, with the last six months open to prepayment without penalty
Supplemental Financing	Will be allowed with approval after 12 months
Fees	$ 0.00 $ 0.00 (generally) Low to none To cover 3rd Party Reports/Underwriting	Application Fee Term Sheet Fee Success Fee Expense Retainer
We treat our business relationships like partnerships.
THE REVIEW OF A FILE DOES NOT CONSTITUTE A FULLY UNDERWRITTEN LOAN FILE. ACCORDINGLY, THIS IS NOT A COMMITMENT TO LEND MONEY. THIS CONDITIONAL LOAN UNDERWRITING IS BASED SOLELY ON THE INFORMATION SUBMITTED. THIS LOAN FILE IS SUBJECT TO A SATISFACTORY UNDERWRITING OF ALL ORIGINAL OR REQUIRED DOCUMENTS AND A QUALITY CONTROL REVIEW. IF THE ITEMS OR DOCUMENTS SUBMITTED ARE NOT CONSIDERED SATISFACTORY, OR THERE ARE CHANGES THAT WOULD ADVERSELY AFFECT THE FINANCIAL CONDITION OF THE BORROWER, THE PHYSICAL CONDITION OF THE PROPERTY OR THE MARKETABILITY OF THIS LOAN, THE APPLICATION MAY BE AMENDED OR CONSIDERED VOID IN THE SOLE DISCRETION OF UNDEWRITERS PREFERRED COMMERCIAL LENDING TRUST AND/OR ITS INVESTORS. THIS RATE SHEET IS NOT TO BE CONSTRUED AS A CONSUMER ADVERTISEMENT UNDER REGULATION Z 1026.24. NOT INTENDED FOR THE GENERAL PUBLIC.

Hotels/Motels

Property Types Include

Full Service - Luxury - Full Service - Midscale - Full Service - Resorts - Limited Service - Midscale - Limited Service - Economy - Limited Service - Extended Stay

View Today's Rates Loan Application

Hotels/Motels Indicative Term Sheet

Loan Amounts

$1,000,000 - $300,000,000

Interest Rates

Fixed at the comparable Term U.S. Treasury, Key Index or SOFR Rate, plus competitive spreads. Early rate lock also available

Acquisition

Up to 90% of loan to purchase price

Amortization

Up to 30 years; older properties - maximum 25 years

Maximum LTV

Refinance: up to 85% (with cash out)

New Construction

Up to 100% LTC value (completed), including Purchase & Rehab

Minimum DSCR

as low as 1.15x for some properties

Appraisal Report

Required; a current summary appraisal format may be acceptable

Environmental

Environmental reports are not required: however, environmental insurance is required

Escrows

Required for monthly real estate taxes and property insurance; replacement reserves are underwritten but not collected; tenant improvements and leasing costs are generally not required but evaluated on a case-by-case basis

Non-Recourse

Except for standard carve-outs

Assumable

Subject to approval and a 1% fee

Security

First Mortgage on fee simple interest

Prepayment

Two year lockout from the time of securitization; defeasance for the remaining term, with the last six months open to prepayment without penalty

Supplemental Financing

Will be allowed with approval after 12 months

Fees

$ 0.00
$ 0.00 (generally)
Low to none
To cover 3rd Party Reports/Underwriting

Application Fee
Term Sheet Fee
Success Fee
Expense Retainer

We treat our business relationships like partnerships.

THE REVIEW OF A FILE DOES NOT CONSTITUTE A FULLY UNDERWRITTEN LOAN FILE. ACCORDINGLY, THIS IS NOT A COMMITMENT TO LEND MONEY. THIS CONDITIONAL LOAN UNDERWRITING IS BASED SOLELY ON THE INFORMATION SUBMITTED. THIS LOAN FILE IS SUBJECT TO A SATISFACTORY UNDERWRITING OF ALL ORIGINAL OR REQUIRED DOCUMENTS AND A QUALITY CONTROL REVIEW. IF THE ITEMS OR DOCUMENTS SUBMITTED ARE NOT CONSIDERED SATISFACTORY, OR THERE ARE CHANGES THAT WOULD ADVERSELY AFFECT THE FINANCIAL CONDITION OF THE BORROWER, THE PHYSICAL CONDITION OF THE PROPERTY OR THE MARKETABILITY OF THIS LOAN, THE APPLICATION MAY BE AMENDED OR CONSIDERED VOID IN THE SOLE DISCRETION OF UNDEWRITERS PREFERRED COMMERCIAL LENDING TRUST AND/OR ITS INVESTORS. THIS RATE SHEET IS NOT TO BE CONSTRUED AS A CONSUMER ADVERTISEMENT UNDER REGULATION Z 1026.24. NOT INTENDED FOR THE GENERAL PUBLIC.