INGREDIENTS OF A REAL ESTATE LOAN SUBMISSION
I. LOAN APPLICATION SUMMARY
1. Amount requested
2. Interest rate of loan
3.
Term of loan
4. Key indicators and ratios
5:
1. Loan to value ratio
2. Debt service coverage
3.
Break-even point
6. Narrative summary of project
II. PHYSICAL DESCRIPTION OF PROJECT
1. Project description (narrative)
2. Neighborhood
and vicinity description
3:
1. City location map (street map) showing subject
property and competition.
2. Vicinity map
of immediate neighborhood
3. Aerial photograph
of site
4. Plot plan
5:
1. Subject property outlined in red
2. Square
footage of land area indicated
6. General and economic information on the area
7.
Plans and specifications
8:
1. Floor plan
2. Elevations
3. Layout
of site including parking
9. Cost breakdown of project
10:
1. Direct building costs
2. Land acquisition
costs and date of acquisition
3. Site preparation
4.
Consultants (architects, engineer, attorney, realtor)
5.
Construction period interest and taxes
6. Marketing
costs and leasing costs
7. Loan fees
8.
Overhead items
9. Projected profit
11. Schedule of construction, leasing, and loan
closing
12. Appraisal of project including land
13.
Photographs
III. PRINCIPALS
1. Background and experience of principals
2:
1. Experience in similar project
2. Other
projects of principals
3. Financial statement of principals
4. Additional
financial information
5:
1. Credit report
2. Bank references
3.
Taxpayer ID number
4. Tax returns for two
previous years
IV. FINANCIAL DESCRIPTION OF PROJECT
1. Pro forma income and expense statement
2.
Actual operating history for past three years (if
available)
3. Source of equity capital
V. PROJECT LEASE INFORMATION
1. Summary of leases or letters of intent
2:
1. Name of lessee
2. Gross leaseable area
3.
Rent
4:
1. Gross annual rent
2. Rent per square
foot
3. Rental escalators
4. Percentage
rentals
5. Expenses borne by lessee as part of rent
6:
1. Taxes
2. Insurance
3. Maintenance
4.
Utilities and other
5. Common area charges
7. Terms of lease
8. Options for renewal
9.
Estimated sales and income of tenant
10. Status
of lease execution
3. Copies of tenant lease
4. Credit information
on tenant
VI. LEGAL DATA CONCERNING PROJECT
1. Legal description
2. Title report
3. Survey
4.
Zoning and land use information
5:
1. Building restrictions
2. Parking requirements
to meet ordinances
6. Building Permit
7. Construction Contracts
8.
Declaration of Conditions, Covenants, and Restrictions
(CC&R)