Spencer's permanent loan programs are
competitively priced. |
| We have financing programs available for multi-family, office, retail, industrial and mixed use. |
| |
LENDER COST ESTIMATES |
| Stand-By: |
$1,500 |
| Appraisal: |
$2,500 to
$4,500 |
| Environmental: |
$1,500 to $3,500 |
| Engineering: |
$2,500 to $3,500 |
| Commitment Fee: |
1% of gross loan amount |
| Lender Legal: |
From $2,000 (based on loan size and complexity of transaction) |
| Interest Rates: |
Competitive pricing based on spreads over corresponding Treasury with a floor to be determined |
| Loan Terms: |
5 to 15 years |
| Maximum Amortization: |
Multi-Family - 30 Years and Commercial - 25 Years |
| Maximum Financing: |
Multi-Family - 80% and Commercial - 75% |
| Prepayment: |
The greater of 1% or yield maintenance, or declining scale to be determined |
| Personal
Recourse: |
On a case-by-case basis |
|
|
|
|
|
|
Equal Housing Lender | Member FDIC | Spencer Savings Bank