UNDERWRITING

Different lenders have their underwriting criteria for loan submission, analysis and approval. The process is used to determine risk, the likelihood of debt repayment, the value of collateral and the applicable return the lender requires commensurate with the variables. Providing the funding source with documentation supportive of the loan request in terms of the property, its ability to support the requested debt, its market value, borrower's financial strength, experience, exit strategy for the lender to eventually get its money out of the property, etc, helps the process. Lenders rely on the cooperation of borrowers to supply documents to help them make an informed decision to approve or deny the loan. Delays in providing these documents can lengthen the underwriting time frame; although conditional loan approval can sometimes be granted contingent upon submission of the documents,verification of the information or third party reports to substantiate value, income, risk, etc.

 

At a minimum the following documents maybe required:-

Executive Summary

Business Plan

Personal Financial Statements (all borrowers)

Three years tax returns (all borrowers)

Profit and Loss Statements

5 - 10 Years Pro Forma 

Management Resumes

Rent Roll

Appraisal

Credit Report Authorization

Property/Site Photographs

Purchase Contract

REO Schedule



Commercial Mortgage Brokers *CRE Private Equity *CRE Debt Financing

Services

These are some of the properties we finance:

 Multifamily

 Mixed Use

Retail

Industrial

Office

 Hospitality

 Senior Housing

 Special Use

610 LACEY ROAD
P O BOX 202
FORKED RIVER
NEW JERSEY 08731

Phone
(609)971-7171

Fax
(609)971-7144

Email:
info@bestcreloans.com