Updated about 12 years ago on . Most recent reply
Key man life on $70k ?
I just got preliminary approval notice for end loan financing on my last rehab/rental property.
All the terms are fair, except
"Borrower will cause a life insurance policy covering the life of Chris Adams to be assigned to Bank. Minimum face value / death benefit shall be $50,000."
Kind of odd with such a small loan imho, is this a small bank kind of request?