It’s March 2008 and I’m currently working on a rate and term refinance, $3.8 million of an owner occupied Wingate hotel loan in the Midwest. The owner boasts an 82% occupancy for 07, $2,000,000 of gross income, property was built in 02 for a cost of $5.3 million so we’re looking at a loan to value [...]
Hotel loans and hotel financing has become much more limited in the last six months, but there still are options out there. Here are a few things to consider on increasing your chances of getting your hotel loan closed.
First of all, probably 60% maybe 80% of the lenders and banks that where offering [...]
Where do you start? Hotel loans whether for purchase or refinance have taken a firm beating in this credit crisis. Basically, there are now only a few options on hotel loans. Probably 90% of all conventional hotel loan progr