Sticks and Loans Commercial Mortgage Real Estate

 (This is for a property that needs to be built ground up. Ground up  construction involves starting a building project from a parcel of land  and working toward a finished building.) 

1. Borrowers Name:  

2. Borrowers Contact Info (Phone # and email): 

3. Is the borrower a US Citizen? 

4. Company name the borrower is closing in (must close in a corporate entity): 

5. Who makes up the entity and what are their percentages of ownership? 

6. Address of Property (if just a plot, please list city and state): 

7. Exact property type that will be built (Ex: SFR, 2-unit, 7-unit): 

8. Will this property be zoned commercial or residential? 

9. What will the square footage of the property being built be? 

10. How many acres make up the land? 

11. Purchase Price of land (if applicable) PLEASE ONLY FILL THIS IN IF THIS IS A PURCHASE TRANSACTION): 

12. How many acres make up this land? 

13. Is the borrower already in a purchase and sales contract?  

14. When does the borrower need to close? 

15. If you already own the land what is it currently worth? 

16. If you already own the land when did you purchase it and for how much? 

17. If you already own the land how much debt is on the land? 

18.  If the land is already owned free and clear, how liquid is the borrower  (need to know to calculate reserves and closing costs):  

19. Is there already approved plans and permits on the land?  

20. Construction Cost: 

21. What will the property be worth once it is fully built? 

22. How much money can the borrower dedicate to this project? 

23. What is the loan amount requested? 

24. Exit Strategy on Loan (Refinance or Sell): 

25. How long will the property take to construct? 

26. How long will the property take to sell (if applicable?) 

27. Will this property be owner occupied or an investment property when it is constructed? 

28. If Investment, will this property be a triple net lease property?  

29. Borrowers experience running this type of business (if owner occupied)?  

30. Is the borrower already producing income in this business line or is this a start up? 

31. Borrowers fico scores? (Please list all borrowers scores) 

32.  How many construction projects has the borrower built ground up and  SOLD in the past 24 months (can the borrower prove this with Hud-1’s or  settlement statements in their company name or personal name)? 

33. How many construction projects has the borrower built ground up and SOLD since 2012? 

34.  Can the borrower prove the bought and sold properties with Hud-1’s or  settlement statements in their company name or personal name? 

35. Please list borrows home address 

36. Does the borrower rent or own? Please list monthly payment. 

37. Does the borrower own any other investment properties? If so how many? 

38.  Does the borrower have any IRS issues/liens, Tax liens, judgments, past  bankruptcies, past chapter filings, past foreclosures, past home  modifications, recent or pending lawsuits against them? If so please  explain and list date:   

39. Has the borrower ever had any mortgage lates? If so when? 

40. What rates and terms is the borrower expecting? 

41. Is the borrower already working with another broker or lender? 

42. What is special about your deal