Hotels/Motels
Financing for hotels and motels has been more difficult in during these times of tighter credit. Our lenders look for experienced, knowledgeable owners and operators and prefer nationally recognized flags. The historic operating results for the property and market trends for newer properties must support the loan amount.
Current Rates (02/03/2012)
- Apartments 4.19%
- Mobile Home Park 4.44%
- Anchored Retail 4.29%
- Non-Anchored Center 4.54%
- Single Tenant Retail 4.34%
- Office 4.54%
- Industrial / Flex 4.44%
- Self-Storage 4.74%
- Medical Office 4.44%
- Hotel 4.94%
- Owner Occupied 4.14%
- Land 10.94%
- Other 5.69%
Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.
Current News
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent.
Less Strength Than Meets The Eye
Real GDP grew at a 2.8 percent annualized rate during the fourth quarter, but the underlying data show the economy has less momentum going into 2012.