LOANS

• Property Type (Mixed-use, multifamily, office, retail, warehouse, etc.):
  
•  Property description (i.e., # of units/unit type)?
  
•  Purchase or Refinance?
  
•  Debt service must be a minimum of 1.25% ( depending on lender )
  
•  Cost of the building/property for purchase
  
•  Amount remaining on existing mortgage (s) for refinance?
  
•  Amount of loan desired?
  
•  Owner occupied property or investment only?
  
•  Full documentation needed 
  
•  Credit score 
  
•  3 years tax returns both personal and business will be needed
  
•  Contract of sale needed for purchase 
  
•  Personal financial statement 
  
•  Recent appraisal if available (new appraisal will be required)?
  
•  Borrower 1003 completed
  
•  Unit leases and expiration information ( rent roll )
  
•  Recent environmental report if available
  
•  Any prepayment penalty on the current mortgage(s) (for refinance)?

• Property taxes (per year)
  
• Building insurance (per year)
  
• Utilities (state per month or yearly total)

Do the tenants pick up any percentage of building expenses?

Note – 10% will be deducted from the gross rents to account for vacancy and building management unless specifically accounted for.

• Complete breakdown of construction costs
• Verification of all government approvals
• Name of contractor and plans provid