Where Communities, Leaders, and Developers Meet
Utah Equitable TOD Loan Fund
Conventional Loan Terms
| Acquisition | Pre-development | Construction | |
| Term | up to 36 months | up to 24 months | up to 24 months |
| Rate | 90-day LIBOR + 3.25% | 90-day LIBOR + 3.25% | 90-day LIBOR + 3.25% |
| Amortization | Interest-only | Interest-only | Interest-only |
| Repayment | Quarterly Interest Payments | Quarterly Interest Payments | Quarterly Interest Payments |
| LTV | Up to 85% | Up to 75% | Up to 80% |
| Max. Loan | 3,500,000 | 500,000 | 15,000,000 |
| Min. Loan | 500,000 | 100,000 | 3,000,000 |
| Recourse | Full to Borrower and Guarantor(s) | Full to Borrower and Guarantor(s) | Full to Borrower and Guarantor(s) |
| Origination Fee | 1.25% | 1.25% | 1.50% |
| Equity Requirement | 15% Min. | 25% Min. | 20% Min. |
|
Interest Reserve |
Full Term Reserve | Full Term Reserve | Full Term Reserve |
|
Personal Guarantees |
Everyone with ≥20% ownership in Borrower | Everyone with ≥20% ownership in Borrower | Everyone with ≥20% ownership in Borrower |
*Additionaticipates ceasing its l terms and fees apply.
**UETOD's anuse of the LIBOR index in favor of a new index.