Date of Lead
Project Name and Location
Mike's Plaza
123 My Street
Buck
Snort, Tennessee
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|
Date of Lead |
Project Name and Location |
|
Referral Source |
|
|---|---|
| Contact: | Joe Blow |
| Contact person is: | a Mortgage Broker |
| Company: | Joe Blow Capital Consulting |
| Address: | 123 Anytown |
| Mytown 77777 | |
| Work Phone: | (999) 099-9999 |
| Home Phone: | (999) 990-9990 |
| FAX: | (999) 999-9999 |
| E-mail address: | appliedsolutions@mindspring.com |
|
Loan Details |
|
| Loan Request Type | Permanent First Mortgage |
| REQUESTED Loan Amount | $670,000 |
| Type of Property | Commercial or Retail Buildings |
| COLLATERAL Value | $990,000 |
| LOAN-TO-VALUE RATIO | 67.3% |
| DEBT SERVICE COVERAGE RATIO | 1.35 based on a 8.750%, 25 year constant. |
| PURPOSE OF THE LOAN | Cash-out Refinance |
| LOAN FEE DESIRED | 2.00 points to broker |
| INTEREST RATE DESIRED | 8.50% |
| AMORTIZATION TERM | 25 years |
| TERM DESIRED | 10 years |
| CURB APPEAL | Average to Good |
| Details / Comments | The property is older, needs some work consisting of HVAC and Updated Plumbing estimated at a cost of $43,000. May be escrowed. |
|
Borrower Details | |
| NAME OF BORROWER/COUPLE #1 | John Wayne |
|---|---|
| TYPE OF ENTITY | Individuals |
| ANNUAL INCOME | $123,000 |
| NET WORTH | less than $250,000 |
| CREDIT | Perfect |
| CREDIT SCORE | 688 |
|
PROFORMA
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|---|---|---|
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This Data is From Last Years Income Statement |
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This Data is From Projections for the Project |
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|
Gross Potential Income: |
$231,456 | |
| Total income: | $231,456 | |
| Less 5 % Reserve for Vacancy and Collection Loss: | $11,573 | |
| Effective Gross Income: | $219,883 | |
| EXPENSES: (Annual) | ||
| Real Estate Taxes & Assessments | $1000 | |
| Insurance | $1000 | |
| Management | $21000 | |
| Repairs & Maintenance | $1000 | |
| Replacement Reserves | $1000 | |
| Utilities | $1000 | |
| Other Operating Expenses | $1000 | |
| Total Expenses: |
$8000 | -$8000 |
| Net Operating Income: | $192,883 | |