Hard
What does it mean to have a balloon payment on your real estate loan?
There is a large payment due for the full remaining balance at maturity when the Term of the loan is shorter than the Amortization of the loan
These are two benefits a client would have in purchasing their own building.
What is:
Client now owns an appreciating asset
“Rent Replacement” Client now paying towards an asset versus renting
Find a building that best suits the company’s needs
SBA Loans can be done without a personal guaranty. True/False
What is False?
SBA loans require a personal guaranty.
(pretty much all of our loans do)
This is the discount amount on real estate term loans for Honors Preferred Rewards customers.
What is 0.50%?
What is the maximum term in years that we offer on any OOCRE loan?
25 years on SBA
This is the standard prepayment penalty structure on conventional real estate term loans.
What is 5/4/3/2/1?
This is our Primary Source of Repayment for OOCRE loans
What is cashflow. Cashflow is the primary source of repayment.
This is a good estimated time frame to provide a customer to go through the OOCRE loan process.
What is 45-60 days?
However, there are many factors that can add time.
Excluding certain Practice Solutions loans, what is the lowest down payment percentage that a client can have on an OOCRE loan?
10% on an SBA Loan
The term for specific property types where we cannot go to 80% LTV or 90% LTV on SBA.
What is a special purpose property?
aka - special use
Examples: hotels, gas stations, car washes, restaurants, etc..
This group at the Bank can provide 100% OOCRE financing for this profession.
What is Practice Solutions financing medical practices?
This is how the client can avoid having a prepayment penalty on their real estate term loan
What is choosing a floating rate instead of a fixed rate?