Laserfiche WebLink
TIF Request <br />Why 15 years? <br />Investor requires a permanent mortgage ‘no less than’ 15 years. <br />Proposed mortgage will have 30 year amortization. <br />By having TIF term equal to or greater than mortgage term, TIF can <br />be based on 30 years versus just the length of the TIF note. <br />Example: <br />15 year TIF note would allow TIF “Loan” of 15 years, 30 year amort <br />equal to approx. $671k. <br />14 year TIF note would need to be a 14 year term and 14 year amort, <br />generating only $448k in TIF loan proceeds.