• Section 1: Borrower

• Full Name:
• Email Address:
• Complete Address:
• Mobile Phone:
• Office Phone:
• Annual Income:
• Credit Score (approx.):
• Bankruptcies:
  Yes No
• Judgments:
  Yes No
• Other Properties ¹:
• Other Property One
  
  Value:
  
  Mortgage:
• Other Property Two
  
  Value:
  
  Mortgage:
• Other Property Three
  
  Value:
  
  Mortgage:
• How does Borrower plan to service debt ²:
• Immigration Status:
  U.S. Citizen Resident Alien Foreign National
• Employer:
• Industry:
• Business Owned (in years):
• Annual Revenues:
• Annual Profit/Income:
• Number of Employees:

---

• Section 2: Transaction Narrative

---

• Section 3: Transaction

  Refinance

• Date of Purchase:
• Capital Invested ³:
• Current Market Value:
• Mortgage Value:
• Mortgage Balance:
• Cash-Out Requested:
• Current Monthly Mortgage Payment ⁴:
• Is Current Mortgage in Good Standing?
  Yes No
• Use of Cash-Out Funds:
• Financing needed:

• Purchase / Purchase & Rehab

• Ratified Contract:
  Yes No
• Date Contract Signed:
• Closing Date ⁵:
• Purchase Price:
• Rehab Cost:
• Other Costs:
• Project Cost:
• Down Payment:
• Seller Financing:
• Exit Strategy:
• Financing Needed:
• Time needed for Rehab (months):
• Numbe of draws expected during Rehab:
• Finished Value:

---

• Section 4: Property

• Complete Address:
• County:
• Property Type:
• Owner-Occupied ⁶:
  Yes No
• Appriasal Date:
• Appraisal Value:
• Current Market Value ⁷:
• Building Size (square feet):
• Single Tenant or Multi-Tenant:
  Single-Tenant Multi-Tenant
• Annual Rental Income ⁸:
• Number of Units:
• Which units, if any, are owner occupied:
• Units Vacant ⁹:
• How did Borrower arrive at Market Value ¹⁰:
• Physical Occupancy Rate (%):

---

• Section 5: Property's Net Operating Income ("NOI") ¹¹

• Annual Gross Rental Income:
• Annual Insurance:
• Annual Capital Reserves (2%):
• Annual Association Dues:
• Annual Real Estate Taxes:
• Annual Management Fee (2%):
• Annual Utilities:
• Annual Maintenance:
• Other:
• Annual Landscaping Costs:
• Annual Vacancy Factor (5%):
• Annual Vacancy Factor (5%):

 

 

 

---

1. Other Properties: It is important for the lender to examine the "global" financial position of the Borrower.

2. Servicing Debt: If property does not include adequate NOI (Net Operating Income)

3. Capital Invested is sometimes refeered to as "Pain Captial". All lenders would like to see maximum Capital Invested committed to a deal b the borrower. capitl Invested is the combination of (1) down payment at a time of acquisition, and (2) capital spent on improvements. (A) Capital Invested does NOT include mortgage, real estate tax, insurance and maintenance payments; (B) Capital Invested is NOT the same as the equity. Items that can be included in this figure include but are not liited to: a. Soft & hard costs for renovation & rehab b. Upgrades of any of the mechanicals c. Upgrades/Replacement of roof d. Exterior & interior finishes.

4. Calculate with principal and interest only.

5. Closing Date: Please make sure there is at least 90 days from the date of this application and the mandatory closing date.

6. Owner Occupied: If the owner occupies more than 50% of the rentable square feet of the property, it is comsidered owner-occupied.

7. Current Market Value: In the absence of an appraisal, this is borrower's most educated estimate of the property's market value at the time of application.

8. Calculate if at 100% occupancy based on current rental rates.

9. Units Vacant: Refers to the number of units that are empty, not the unit nunmbers.

10. Support for Market Value: Please supply the methodology used to arrive at the "Market Value"

11. Please do not include any mortgage payments(principal & interest.)