Term Sheet Comparison
Lender Term Sheet Comparison Matrix
A side-by-side worksheet for comparing multiple lender quotes on the same deal across every term that actually matters, not just the headline rate — so the borrower's recommendation is defensible on paper, not just a gut call.
When to use this
Build this the moment a second quote comes in on a deal. Comparing quotes serially in your inbox is how a broker ends up recommending the lowest rate without noticing it also carries full recourse, a shorter term, or a rollover-risk-blind loan-to-lease-term mismatch. Filling in every row forces the comparison onto the terms that actually drive total cost and risk, not just the one number a lender leads with.
LENDER TERM SHEET COMPARISON MATRIX
Deal: [PROPERTY NAME] Prepared: [DATE]
Requested Loan Amount: $[AMOUNT] Prepared By: [NAME]
Lender A Lender B Lender C
[LENDER NAME] [LENDER NAME] [LENDER NAME]
Lender Type [Bank/Agency/Life [ ] [ ]
Co./Debt Fund/CMBS]
Loan Amount $[ ] $[ ] $[ ]
Interest Rate [Fixed/Floating, [ ] [ ]
rate + spread]
Term (Years) [ ] [ ] [ ]
Amortization (Years) [ ] [ ] [ ]
Interest-Only Period [ ] [ ] [ ]
LTV / LTC [ ]% [ ]% [ ]%
Min. DSCR Required [ ]x [ ]x [ ]x
Min. Debt Yield [ ]% [ ]% [ ]%
Recourse [Full/Non-Recourse [ ] [ ]
w/ carve-outs]
Prepayment Penalty [Yield maintenance/ [ ] [ ]
Defeasance/Step-down/
None]
Origination Fee [ ]% [ ]% [ ]%
Exit Fee [ ]% [ ]% [ ]%
Other Fees [Application, legal, [ ] [ ]
third-party reports]
Rate Lock [When, cost, duration] [ ] [ ]
Reserve Requirements [Tax/insurance/ [ ] [ ]
replacement/TI-LC]
Certainty of Execution [High/Medium/Low + [ ] [ ]
why]
Estimated Time to Close [ ] days [ ] days [ ] days
CALCULATED — ANNUAL DEBT SERVICE $[ ] $[ ] $[ ]
CALCULATED — RESULTING DSCR [ ]x [ ]x [ ]x
CALCULATED — ALL-IN EFFECTIVE COST* [ ]% [ ]% [ ]%
*All-in effective cost should amortize origination/exit fees and any rate buy-down over the
expected hold period, not just quote the note rate — two quotes with the same rate are not
the same cost if one charges 2 points and the other charges zero.
RECOMMENDATION: [Which lender, and why — reference the specific terms above that drove the
decision, not just the lowest rate. Note any structural mismatch worth flagging to the
borrower, e.g. loan term shorter than remaining lease term, recourse burn-off conditions,
or reserve requirements that affect the borrower's cash-out proceeds.]