Spencer's
Permanent Loan Programs
are competitively priced. |
| We have financing programs available for multi-family, office, retail, industrial and mixed use. |
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LENDER COST ESTIMATES |
| Stand-By: |
$1,500 |
| Appraisal: |
$2,500 to
$4,500 |
| Environmental: |
$1,200 to $3,500 |
| Engineering: |
$2,000 to $3,500 |
| Commitment Fee: |
1% of gross loan amount |
| Lender Legal: |
From
$2,500 (based on loan size and complexity of transaction) |
| Interest Rates: |
Competitive
pricing based on spreads over corresponding
Treasury, with a minimum Floor Rate to be
determined |
| Loan Terms: |
5
and 10 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 |
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Equal Housing Lender | Member FDIC | Spencer Savings Bank