LOAN APPLICATION INFORMATION, PRELIMINARY
EXECUTIVE SUMMARY – OUTLINE
CONSTRUCTION PROJECT
BASICS
___ Details of the project
___ Original purchase price and current debt on L-I site
___ Current equity into project
___ Current market value of site as-is
___ Loan amount requested; Total construction cost
___ Preferred date of closing of loan.
Preferred duration of loan.
Preferred structure of loan (e.g. interest only with balloon, interest reserve, phasing)
___ Preferred all-in-one construction/permanent loan or exit strategy
___ Use of proceeds of loan (soft/hard costs, pay-off land debt, re-coup land costs, etc.)
PROPERTY SUMMARY
___ A complete, as-is description of the property: location, access to major arterials and transportation lines, nearby buildings, visibility, current use, acreage, zoning, environmental issues, utilities, management, current total assessed value, if no recent appraisal then estimated current market value, etc.
As a Construction Project:
___ Number of units, rents, and number of parking spots
___ Type of construction; number of stories; phasing of buildings; site plan
___ Design/Permit status; projected dates for availability
___ Projected period of time for 90-95% lease up
___ Projected Income/Expense Summaries when stabilized with net operating income;
___ Est. completion date, itemized costs, and est. future value at stabilization, etc.
___ Marketing plans for tenants
___Pre-leasing status
___Portion which is owner occupied
___Typical vacancy rate for newer projects, overall vacancy rate for the area, and
typical cap rate for the area
___ Names and contact info of architect and G.C.
BORROWER INFORMATION
___ Borrower contact information (name, company name and mailing address, telephone, fax numbers, e-mail address).
___ Summary of Borrower’s real estate development and investment history.
___ Borrower’s Personal/Corporate Financial Statement
___ Estimated personal credit (A to E with A being excellent). Current FICO score, if known.
Not all items above may be relevant.
Please add any other facts which you feel we should be aware of.
When preparing your document, please use headings, bullet-point style for clarity.
LIST OF SEPARATE DOCUMENTS
1. Personal/corporate financial statements
2. Three years personal/corporate tax returns
3. Photos, on-site and aerial; building renderings/elevations
4. Title report and Property Profile
5. Itemized use of proceeds of loan
6. Itemized costs for anticipated property improvements/redevelopment and source of funds
7. Current (if any) and projected income/expense summaries on stabilization
8. Recent appraisal, if any (do not order one); feasibility study, if any
9. Environmental report, if any
10. Purchase and Sale Agreement (if recent acquisition)
Please submit all documents/information in digital form to earosenberg1@yahoo.com
EXECUTIVE SUMMARY – OUTLINE
CONSTRUCTION PROJECT
BASICS
___ Details of the project
___ Original purchase price and current debt on L-I site
___ Current equity into project
___ Current market value of site as-is
___ Loan amount requested; Total construction cost
___ Preferred date of closing of loan.
Preferred duration of loan.
Preferred structure of loan (e.g. interest only with balloon, interest reserve, phasing)
___ Preferred all-in-one construction/permanent loan or exit strategy
___ Use of proceeds of loan (soft/hard costs, pay-off land debt, re-coup land costs, etc.)
PROPERTY SUMMARY
___ A complete, as-is description of the property: location, access to major arterials and transportation lines, nearby buildings, visibility, current use, acreage, zoning, environmental issues, utilities, management, current total assessed value, if no recent appraisal then estimated current market value, etc.
As a Construction Project:
___ Number of units, rents, and number of parking spots
___ Type of construction; number of stories; phasing of buildings; site plan
___ Design/Permit status; projected dates for availability
___ Projected period of time for 90-95% lease up
___ Projected Income/Expense Summaries when stabilized with net operating income;
___ Est. completion date, itemized costs, and est. future value at stabilization, etc.
___ Marketing plans for tenants
___Pre-leasing status
___Portion which is owner occupied
___Typical vacancy rate for newer projects, overall vacancy rate for the area, and
typical cap rate for the area
___ Names and contact info of architect and G.C.
BORROWER INFORMATION
___ Borrower contact information (name, company name and mailing address, telephone, fax numbers, e-mail address).
___ Summary of Borrower’s real estate development and investment history.
___ Borrower’s Personal/Corporate Financial Statement
___ Estimated personal credit (A to E with A being excellent). Current FICO score, if known.
Not all items above may be relevant.
Please add any other facts which you feel we should be aware of.
When preparing your document, please use headings, bullet-point style for clarity.
LIST OF SEPARATE DOCUMENTS
1. Personal/corporate financial statements
2. Three years personal/corporate tax returns
3. Photos, on-site and aerial; building renderings/elevations
4. Title report and Property Profile
5. Itemized use of proceeds of loan
6. Itemized costs for anticipated property improvements/redevelopment and source of funds
7. Current (if any) and projected income/expense summaries on stabilization
8. Recent appraisal, if any (do not order one); feasibility study, if any
9. Environmental report, if any
10. Purchase and Sale Agreement (if recent acquisition)
Please submit all documents/information in digital form to earosenberg1@yahoo.com