Documents Needed to Underwrite a Shopping Center Mortgage

LIST OF ITEMS REQUIRED TO UNDERWRITE A

SHOPPING CENTER / INDUSTRIAL OR OFFICE BUILDINGS

(The need for items #9-12 will vary according to each situation).

•1.       CURRENT RENT ROLL including:

SF of units

Lease abstract details such as

Escalations, commencement & expirations, add-ons, description of tenant, Description of any added rent that the tenant is responsible for (In addition three year historical data would be ideal)

•2.       COMPLETE INCOME/EXPENSE STATEMENT on the property including:

Annual property taxes

Insurance

Water/Sewer

Fuel

Electricity

Maintenance/Repairs

Management

CAM

Leasing commissions, tenant improvements

•3.       COMPLETE DETAILED PHYSICAL DESCRIPTION along with SITE PLAN or Property Survey.

•4.       IF ACQUISITION, PROVIDE COPY OF FULLY EXECUTED CONTRACT OF SALE.

•5.       IF REFI, PRICE ORIGINIALLY PAID FOR PROPERTY, date of purchase and summary of current financing.

•6.       PHOTOS, if available

•7.       SUMMARY OF CURRENT FINANCING (refinance only) including:

Current Lender

Current principle balance

Current interest rate

Current monthly payment

Maturity date

Prepayment penalty information

•8.       INFORMATION ON MANAGEMENT COMPANY, IF SEPARATE FROM OWNERSHIP

•9.       CURRENT PERSONAL FINANCIAL STATEMENT (where applicable)

•10.    CURRENT BUSINESS FINANCIAL STATEMENT (where applicable)

•11.    LAST TWO (2) YEAR'S PERSONAL TAX RETURNS (where applicable)

•12.    LAST TWO (2) YEAR'S BUSINESS TAX RETURNS (where applicable)

•13.    PERMISSION TO RUN CREDIT REPORT(S)

Our Team is loacated in the Minneapolis St Paul , MN Metro

We originate mortgage loans in both Minnesota and Wisconsin

Contact US

612-578-9898

Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area that can help those looking to secure purchase rehab mortgage loans for properties that do not qualify for programs like private/hard money loans or the FHA 203K rehab mortgage loan.

Commercial Mortgage, Commercial Purchase Loan, Commercial Refinance Loan, Apartment Mortgage, Commercial Purchase Loan, Commercial Refinance Loan, Commercial Mortgage Lending, Commercial Purchase Lending, Commercial Refinance Lending, Commercial Mortgage Loan Lending, Commercial Purchase Lending, Hard Money Lending, Private Money Lending, Asset Based Lending, Equity Lending, Collateral Based Lending