I contact Ted Kim, vice president of Chase Bank. He is very high rank lending officer in Chase. Actually, he is not side of Real Estate lending. I begged pardon some advice based on his experience and knowledge.
He advices me if this project could show reliability and profitability. The real estate part in Chase could invest in this project.
Current preferable LTV of Chase is 80%. And, interest rate is around 6.5% on this kind of project.
But, if the lending period is just 10years, I might be around 3.54% with the condition that interest rates change every 5 years.
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