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 Property Type:
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Farms/Ranches that are the primary or significant source of income that are operated as a commercial agricultural enterprise with a good location, sales, maintenance and no environmental risk. Dairy, feedlots, storage units, processing buildings, hog and poultry facilities are qualified properties. |
| Loan Security:
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First fee mortgages encumbering real estate and fixed improvements with customary assignments and pledges. Leaseholds considered on a case-by-case basis. |
| Loan Amount:
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$500,000 to $3,500,000 per property. Certain properties of less than 1,000 acres with high per acre values can qualify to a maximum of $6,000,000. |
| Term:
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Ten (10) to Fifteen (15) Years. . |
| Amortization:
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Up to Twenty-five (25) Years. |
| Maximum LTV:
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70% maximum. Some properties are limited to 60% maximum. . |
| Minimum DSCR:
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1.25:1 |
| Recourse:
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Typically, Non-Recourse, except for standard lender carve-outs, which require 100%. Certain transactions will require Recourse. |
| Replacement Reserves:
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As scheduled in the Property Condition Assessment Report. Monthly escrow is required. |
| Other Conditions:
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Debt of Asset Ratio must be 50% or less. Standard Terms and Conditions also apply. |
| Interest Rates:
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See the most current Pricing Matrix. Rate Buy-Downs are not available. |
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Tel: 888-463-4422 Fax: 830-796-4774 loan.inquiries@Great-Eastern.com |