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|
CONSTRUCTION |
DEVELOPMENT |
PURCHASE |
REFINANCE |
|
PROPERTY TYPE |
Contract Homes |
Residential Subdivisions |
Commercial Buildings |
Commercial Buildings |
|
|
Market Homes |
Office Parks |
No EPA Hazardous
Properties |
No EPA Hazardous
Properties |
|
Commercial Buildings |
Retail Strip Centers |
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|
|
|
Light Industrial Parks |
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|
|
TERMS |
12 Months |
24 Months |
1,3,5 Year ARMs |
1,3,5 Year ARMs |
|
AMORTIZATION |
Interest-Only |
Interest-Only |
20 Yr loans < $500,000
25 Yr loans > $500,000 |
15 Yr loans < $500,000
20 Yr loans > $500,000 |
|
BASE RATES |
Contract Homes:
Prime + 1.00% |
Subdivisions:
Prime + 1.25% |
1 Yr. ARM:
1 Yr. T-Bill + 3.00% |
1 Yr. ARM:
1 Yr. T-Bill + 3.25% |
| |
Market Homes:
Prime + 1.50% |
Office/Retail:
Prime + 1.50% |
3 Yr. ARM:
3 Yr. T-Bill + 3.25% |
3 Yr. ARM:
3 Yr. T-Bill + 3.50% |
|
Commercial:
Prime + 1.50% |
Light Industrial:
Prime + 1.75% |
5 Yr. ARM:
5 Yr. T-Bill + 3.50% |
5 Yr. ARM:
5 Yr. T-Bill + 3.75% |
|
CONDITIONS |
- All Rates subject to change-Call
Dean Weiner, Vice President/Commercial
Lending for current terms
- All Rates assume a .5% Lender
Point to 1st National Bank-Brokers may charge up to
1.5% additional points
- All Rates assume monthly payment
to be debited from a 1st National Bank deposit
account
|
|
LOAN AMOUNTS |
Up to $1,850,000 (no
minimum) |
|
MAX LTV |
Construction,
Development & Purchase: 80% , Refinance: 75%(depending
upon Debt Service Coverage Ratio) |
|
LENDING AREA |
All of Warren County +
Northern Hamilton, Eastern Butler and Western Clermont
County Communities |
|
REPORTING |
1st National Bank will
order all Third Party Reports: Title Search, Appraisal &
Environmental |
|
SUBMISSION |
-
Minimum Requirements:
Loan Summary, Application, Credit Report, Personal
Financial Statement, Interim Business Financial
Statement, 2 Years Tax Returns (Person & Business),
Legal Description/Deed
-
Additional
Documentation Requirements: Based upon Loan
Request (Purchase Contract, Rent Roll, etc.)
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