Deal Questions: Lets get some information on your client and the subject property

• Transaction type: Acquisition / Refinance / Construction

• Property Type: Office / Retail / Apartment / Industrial / Mixed Use / Special Purpose

• Occupancy: Owner or Investor

• Lending Area: Where is the Property Located

• Address: What is the Property Address

• Loan Amount: What is the Requested Loan Amount

• LTV: What is the LTV

• Income Documentation: Full Doc or Stated/No Doc

• Credit: What is the Credit Score or Credit Quality

Definitions: Update your knowledge on commercial terminology

• Cap Rate: Cap rates are measures used to estimate and compare the rates of return on multiple commercial or residential real estate properties. It tells you how many years of net income it takes to pay for the property.

• Debt Yield: lenders use to determine how long it would take to recoup losses in the case of borrower default. It is calculated by dividing the net operating income generated by a property by the total amount of debt used to purchase that property.

• DSCR: The Net Operating Income (NOI) Divided by The Annual Loan Payments. Target is 1.25% which means that for every $100.00 or loan payments there should be $125.00 of NOI.

• Owner User: A property that is occupied by the business owner

• Investor: A property that is owned by an investor and leased to a tenant

• Operating Statement: Financial statement showing the income, expenses and Net Income

• Net Operating Income: (NOI) of a property

• Rent Roll: List of tenants and their lease term for a property

• Interim Financial Statements: Financials for a business or investment property showing results from the end of the last tax return available to the current date

• PFS: Personal Financial Statement

• SREO: Schedule of Real Estate Owned

• T12: Trailing 12 Month Operating Statement

• Business Debt Schedule: List of Business Debts including lender and monthly payments

• LOI: Letter of Interest issued by a commercial lender that provides the Rate and Terms of the financing offered. Client will need to sign this document and pay a deposit to proceed to Underwriting.