Apartment Loan Application

Apartment Loan Application

  • Contact Information (Section I)

  • Property Information (Section II)

  • Send us an old appraisal if you have one. If you don’t have an old appraisal provide the following information
  • Covered?
  • uncovered?
  • garages?
  • students?
  • professionals?
  • section 8?
  • military?
  • retirees?
  • blue collar?
  • If Section 8 or other subsidized rents: What are the requirements and obligations of the owner?
  • If yes, How many commercial units?
  • If yes, what is the total rentable sq. ft. of commercial space?
  • If yes, describe the types of business in the commercial units.
  • Are the park roads paved?
  • How many of the actual mobile homes are owned by the park?
  • What is the construction of the pads?
  • Refinance - If applicable, if not skip (Section III)

  • P & I payment?
  • Interest rate?
  • Call or due date?
  • Lender Name?
  • Can this loan be prepaid?
  • Was it a trade or straight purchase?
  • What was the purchase price?
  • What was the down payment?
  • Purchase - If applicable, if not skip (Section IV)

  • Email a copy of purchase agreement.
  • Describe any deferred maintenance?
  • Estimated Amount in Dollars:
  • Is there a financing contingency beyond this date?
  • If yes, by what date must you have a commitment? (the drop dead date!)
  • Borrower Information (Section V)

  • If no, can it become one?
  • Management Information (Section VI)

  • Requested Loan Information (Section VII)

  • Amortization:
  • Yrs. Rate: Fixed (%)
  • Fixed for how long?
  • Rate: Variable (%)
  • Maximum Loan Dollars/Loan to Value:
  • Interest Rate:
  • Low Closing Costs:
  • Lowest Overall Financing Cost:
  • No Personal Recourse/Guarantee:
  • Loan Term or No Balloon:
  • Assumable By Future Buyers:
  • Future Supplemental Borrowing Provided (via 2nd or 3rd mortgage)
  • Ability to Pre-Pay Loan
  • For 90days or more what date?
  • Deadline Date:
  • What is your exit plan?