The "Fixed to Floater"
The "Fixed to Floater" programs are designed to provide a fixed rate financing alternative for borrowers with shorter term time horizons and/or business plans requiring flexible financing needs. Primary loan terms combine to provide a competitive fixed interim interest rate and a ten year loan term with prepayment flexibility. The "3 Year Fixed To Floater" provides a fixed rate for the first three years converting to a floating interest rate of 3.25% over 6 month Libor for the remaining term, with only a 3 year prepayment fee provision. The "5 Year Fixed To Floater" provides a fixed rate term for the first 5 years converting to a floating interest rate of 3.50% over 6 month Libor, with a 5 year prepayments fee. The loans are non-recourse and are underwritten and closed under a lower cost, streamlined process.
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