*Offer applies to a 10 or 15 year fixed rate loan with 25 year amortization. Rate is based on the 10 year Treasury Note as reported daily by the Federal Reserve plus bank margin. A ballon payment may apply at the end of the loan term. 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 01/01/2018. 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 06/30/2018.
†In 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.