*Offer applies to a 10 or 15 year fixed rate loan. Offer also applies to the 10 year loan repricing at year 5 to the then 5 year Treasury Rate plus Bank margin. At repricing date Bank margin does not change from margin applied for years one through five. Amortization period for all terms is 25 years. A balloon payment may apply at the end of the loan term. To receive this offer, loans require opening and maintaining a Mercantil Business Checking, Business Checking Plus or Business Interest Checking Account throughout the term length. Offer is based on credit parameters and qualification criteria for Mercantil Bank’s Owner Occupied loan program, where Mercantil Bank holds a first lien position. Offer effective as of 07/01/2018. Offer and Program Terms are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as a commitment or offer to lend. Loan is secured by the real estate you are financing. Ask us about additional rates and margins that may apply. All loans are subject to credit and property approval. Other restrictions, limitations and fees may apply. Property must be located within Mercantil Bank’s designated areas in Florida and Texas; speak to a loan officer for details. To take advantage of this offer, application must be submitted by 12/31/2018.
1In the event of a pre-payment, in whole or in part, a pre-payment penalty (“penalty”) will be assessed as follows: (1) Before the 1st anniversary date of the loan, the penalty will equal 3% of the principal amount prepaid; (2) before the 2nd anniversary date of the loan, the penalty will equal 2% of the principal amount prepaid; (3) before the 3rd anniversary date of the loan, the penalty will equal 1% of the principal amount prepaid. Prepayment penalty will not apply if the prepayment occurs after the 3rd anniversary date.