REQUIREMENTS TO PROVIDE A 221(d)(4) LOAN ANALYSIS
FOR NEW CONSTRUCTION OR SUBSTANTIAL
RENOVATION
OF MULTIFAMILY APARTMENTS
If you provide AMERICAN MORTGAGE with the following preliminary
information, we will be pleased to provide you with a mortgage
proposal which will outline the level, terms, and conditions
of the financing we can arrange for you:
- Project
description.
- Site
location map.
- Current
Rent roll (with summary of any rent concessions) (on
existing projects).
- Annual
operating statement for past 3 years and year to date
(as applicable).
- If
refinance; summary of existing debt and copy of mortgage(s)
and note(s).
- If
acquisition; copy of option or purchase contract.
- Construction
budget (or) list of proposed repairs and cost estimate.
- Resume
on proposed sponsor, management agent, general contractor
and architect, if selected.
- Market
study or appraisal (if available).
- Survey,
site plan, or architectural drawings (if completed).
- Post
Construction unit mix including unit sizes, number
of bedrooms, number
of bathrooms,
and proposed
rental rates.
- Post
Construction operating expenses (detailed).
- List
of any proposed ancillary income detailing the source
and
anticipated monthly revenue.
- List
of project amenities and what is included in rent versus
what is
paid for
by tenants.
- Occupancy
history for most recent year and each of the
last six months.
(Rehab
Projects)
221(d)(4)
Loan Summary |
