Loan for Condominiums and Mixed Use Developments

Typically a condominium building that would use a portion of the developed area for retail or other purpose.

Construction Loans

• Up to 85% Loan to Cost
  
• 12-36 Month Terms
  
• Interest Only Loans
  
• Significant Pre-Sale/Pre-Leasing Required in Most Markets
  

Permanent Loans on Retail Portion

• Recourse & Non-Recourse Loans
  
• Up to 80% Loan to Value
  
• 25-30 Year Amortizations
  

Mezzanine/ Equity Partners & Bridge Financing

• Interest Only Loans
  
• 12-24 Month Terms
  
• Possible Deferred Interest Payments
  
• Up to 90% Cumulative Loan to Value
  

Needed Initial Documentation:

Construction Loans

1. Executive Summary of Project.
   
2. Pictures of Site/Renderings of Project etc.
   
3. Proforma Operating Statements.
   
4. Construction Budgets.
   
5. Sources & Uses (need to know CASH in project (not equity)).
   
6. Appraisal & Environmental Reports
   
7. Personal Financial Statements, Tax Return Documents, & Resume of borrower(s).
   

Permanent Financing:

1. Executive Summary of Property.
   
2. Operating Statements for past 2-3 years and current YTD.
   
3. Resume of borrower(s)
   
4. Personal Financial Statements of Principals (not immediately, but will be needed).

Deal Overview Form