(ii) The sum of the borrower`s annual principal and interest payments (calculated at the fully indexed interest rate) on a debt instrument. (1) A loan secured by a property with five or more single-family homes or by a non-farm non-residential property whose primary source (50% or more) should be the repayment of: (i) a land use and construction loan (including 1 to 4 residential or commercial construction loans); (2) In the case of a market-based loan, the outstanding balance of all long-term debt (bonds with a residual maturity of more than one year) and the current portion of all debt maturing in one year or less. The loan-to-value ratio (LTV) means, at the time of origin, the principal balance of a mortgage with first lien on the property divided by: (2) loans secured by improved land if the debtor owns the royalty interest on the land and the land is leased to a third party who owns all the improvements made to the property, and improvements are non-residential or residential properties with five or more single-family homes; and (B) estimated monthly principal payments for long-term debt, debts with non-monthly payments, and debts that are not repaid (such as deferred student loans, interest-free loans); and Appraisal Standards Board means the Board of Directors of the Appraisal Foundation, which develops, interprets and amends the Uniform Standards of Professional Appraisal Practice (USPAP), thereby establishing generally accepted standards for the appraisal profession. (A) Monthly payments on other debts and leasing obligations, such as credit card loans or installment loans, including the monthly amount due for the car loan; Operating Affiliate means an affiliate of a borrower who is a lessor or a similar party with respect to the commercial property that secures the loan. (i) The annual NOI less the annual commercial property replacement reserve at the time of establishment of the commercial property(s) divided by an eligible multi-family loan means a commercial home loan secured by a residential property (except a hotel, motel, inn, hospital, nursing home or other similar facility where the apartments are not rented to residents): Salvage title means a form of the branding of the vehicle title that determines that the vehicle has been severely damaged and/or has been considered a total and unprofitable loss for repair by an insurance company that has paid a claim to the vehicle. (1) Who is occupied by one or more qualified tenants on the basis of a lease agreement for a period of at least one (1) month; and Uniform Standards of Professional Appraisal Practice (USPAP) refers to the generally accepted standards of professional practice for assessment published by the Appraisal Standards Board of the Appraisal Foundation. Benefits in kind are accrued interest payments that are not paid in cash at maturity and are instead paid by increasing the principal balance of the loan or providing equity in the borrowing company. Net operating income (NOI) refers to the income that a commercial property generates for the owner after deducting all expenses for federal income tax purposes, excluding depreciation, debt service expenses, and federal and state income taxes, and excluding unusual and one-time items of income. (ii) Personal cash loan secured by a previously purchased car; Leverage ratio means the borrower`s total debt divided by the borrower`s EBITDA.
The debt-to-income ratio (DTI) refers to the borrower`s total debt, including the monthly amount owed for the car loan, divided by the borrower`s monthly income. Commercial loan means a secured or unsecured loan to a business or individual for commercial purposes, except: (1) Means any loan to an individual to finance the purchase of a passenger car or other passenger car, such as.B. a minivan, van, sport utility vehicle, pickup truck or similar light truck for personal, family or household use; and (1) income from a lease or other user agreement between the Borrower or an operating subsidiary of the Borrower and a party that is not a subsidiary of the Borrower for the use of real estate or improvements that serve as collateral for the applicable Loan; and (i) the borrower`s EBITDA in the last fiscal year ended divided by (2) where at least 75% of the NOI comes from rents from tenants` apartments and facilities (including revenues from parking garages, health or swim clubs and dry cleaning) and not from other commercial uses. A purchase-money security right is a security right in an asset that secures the debtor`s obligation that arose in connection with or in part of the price of the asset. . (1) These are five or more residential units (including apartment buildings, condominiums, co-operatives and other similar structures) intended primarily for residential purposes; and. (2) Other income from a hotel, motel, dormitory, nursing home, assisted living facility, mini-warehouse or similar real estate primarily used by parties who are not affiliates or employees of the borrower or its affiliates. . For the purposes of §§ 43.15 to 43.18, the following definitions apply: (v) loans to finance the purchase of a vehicle with a salvage ticket; or environmental impact assessment, a procedure for determining whether a property is contaminated or exposed to a condition or substance that could result in contamination that has a negative impact on the market value of the property or on the achievement of collateral value […].