Loan Terms

Time Limits

NYDIT provides short and medium term loans as well as a limited number of longer term loans. The loan capital available and the specific needs of the project in question govern the term in any particular case.

Loan Limits

The minimum loan amount is $50,000 and the maximum loan is $500,000. The amount varies according to total loan capital. For more information on loan terms and limits, contact NYDIT.

Interest Rate

Interest rates are tied to the cost of funds and other recognized industry benchmarks. Within these parameters, the interest rate of a particular loan is based on the degree of risk, the needs of the borrower, and the transaction time associated with origination and monitoring. Contact staff for current rate information.

Repayment

In establishing a repayment schedule, NYDIT reviews the term of the loan, proposed source of refinancing or takeout, the ability of the project to generate positive cash flow, project financing, and available collateral. Depending on these factors, repayment options include:

Interest only with a balloon payment: the borrower makes equal monthly payments covering current interest; principal and any remaining interest are paid off in a lump sum at the end of the loan term. This option is available for short-term loans only.
Partially amortizing with a balloon: equal monthly payments that partially reduce the loan over its term; the remaining amount is paid off in a lump sum at the end.
Fully amortizing: equal monthly payments that completely pay off the loan balance over the term of the loan.

Repayment terms are stated in the commitment letter and the closing documents. If a loan is amortizing, NYDIT provides the borrower with an amortization schedule but does not bill borrowers for payments due.

Loan Costs and Fees

New York Dubai Investment Trust, LLC makes every effort to minimize additional fees. However, costs associated with loan processing (legal and recording fees) and collateral perfection (appraisal) will be passed on to the borrower. In addition, borrowers with a current loan that requires a modification of terms will be as a fee.