|
|
| Commercial Loan Programs |
Orlando Mortgage Company uses an infinite amount of programs to assist you with financing. We offer flexibility in all areas of the finance process. Our loan programs, the types of properties and terms are as follows:
|
|
| Senior Loans |
|
| Property Types: Multi-family, Office, Industrial, anchored/unanchored retail, flagged or unflagged hotel, Multi-family with mixed-use, Owner Occupied, Senior Housing, Healthcare, entertainment, non recourse turndowns |
| Loan Amount: $6,000,000 - $300,000,000 |
| Term: 3 to 10 years, and 2 year Libor floating rate. |
| Amortization: 25-30 year amortization schedules |
| Spreads over Treasuries: 150-500 basis points over the corresponding U.S. Treasury |
| Pricing: based upon the quality of the property and the credit strength of the deal |
| Loan-To-Value: Up to 90% max for refinancing per appraisal or up to 95% of acquisition price or appraisal value. |
| Subordinate financing: May be allowed with Lenders Consent |
| Debt Service Coverage: 1.25 minimum |
| Recourse: Non-recourse except for carve-outs for fraud, environmental, etc., full recourse to principals |
| Property Location: Nationwide |
| Purpose: Refinancing (including newer existing properties with at least 6 months of operating history), acquisition of existing properties |
| Due diligence fees: $10,000-20,000 (est.) for third party reports (appraisal, engineering and environmental and etc.). Includes Lenders Legal and travel/processing. |
| Quotes responded within 3 business days. Conditional commitments within 10 days of quote acceptance. Firm commitments within 15 days of receipt of third party reports. Closings approximately 30 days thereafter. |
| Loan Fee: 1.00 - 5.00% of the loan amount (depending on strength of transaction and credit risk of borrower and principals) |
|
| |
| Single or Multiple Tenant Loans |
|
| We provide mezzanine loans to principals of single tenant properties with investment and non investment graded tenants. |
| Loan Amount: $4,000,000 - $75,000,000. |
| Property Type: Investment Grade Single or Multiple Tenant (minimum BB S&P rating with minimum 2 year lease). Non-investment Grade Single or Multiple tenant with minimum of 5 year lease term. |
| Term: 2-10 year term |
| Amortization: 25-30 year amortization schedules |
| Investment grade: 150-350 basis points over the corresponding U.S. Treasury |
| Non-investment grade: 375-600 basis points over the corresponding U.S. Treasury |
| Pricing: based upon the quality of the property and the credit strength of the deal |
| Loan-To-Value: Maximum 80% for refinancing, up to 80% of acquisition price for purchases per appraisal |
| Debt Service Coverage: 1.25 minimum |
| Recourse: Non-recourse except for carve-outs for fraud, environmental, etc full recourse to principals. |
| Property Location: Nationwide |
| Purpose: Refinancing (including newer existing properties with at least 6 months of operating history), acquisition of existing properties
$10,000 - $20,000 (est.) for third party reports (appraisal, engineering and environmental). Includes Lenders Legal and travel/processing. |
| Quotes responded within 3 business days. Conditional commitments within 10 days of quote acceptance. Firm commitments within 15 days of receipt of third party reports. Closings approximately 30 days thereafter. |
| Loan Fee: 1.00 - 5.00% of the loan amount (depending on strength of transaction and credit risk of borrower and principals) |
|
| |
| Loan Submission Package |
|
| Property and Ownership summary. Resume, Financial Statement and Experience of Key Principals |
| Property Operating Statements - 2004, 2005, 2006. Trailing 12 months in monthly format. |
| Tenant Profit and Loss Statements - 2004, 2005, 2006. Trailing 12 months in monthly format. |
| Current Rent Roll or Lease Term Sheet/ Lease Abstract |
| Occupancy Rate – year-end 2004, 2005, 2006. Trailing 12 months in monthly format |
| Old Appraisal (if available), Property Photographs |
|
| |
|
|
|
|
|
