The term sheet should include:

  1. Principal (loan amount),

  2. loan-to-value ratio,

  3. lower interest rate,

  4. default interest rate,

  5. loan term,

  6. break cost,

  7. security,

  8. special conditions,

  9. brokerage,

  10. establishment fee,

  11. application fee,

  12. valuation fee,

  13. legal fees,

The borrower signs the term sheet and returns it with the application fee and valuation fee. The