Compare lender term sheets side by side

1 · Learn the move · Comparison matrix

Two land term sheets that look alike on rate can be very different loans. On a tract you hold or sell in phases, the terms that decide whether a loan fits are rarely the rate: the maturity against how long you actually expect to hold, whether an extension is your right or the lender's favour, the release price the lender charges before it lets a parcel go, recourse, the reappraisal right, and what the lender means by 'value'. The move is one matrix with the rows fixed before the model reads a word, every cell quoted from its sheet, and one explicit value for absence: NOT STATED, which becomes a question for that lender. What the model does not do is pick. It lines each sheet up against the plan you state and leaves the choice with you, because a model choosing between loans quietly fills the empty cells with whatever it thinks is normal.

Build one comparison matrix from these term sheets. Rows, fixed: rate and index, floor, fees, maturity, extensions, loan amount basis, release prices, recourse, reappraisal rights, reserves, prepayment, other conditions. Every cell quoted from its sheet; absent terms read NOT STATED. No recommendation. Then list where each sheet conflicts with my plan and the questions each lender must answer. [my hold plan] [sheet A] [sheet B] [sheet C]