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FHA 223(f) For Purchase or Refinance:

PROPERTY INFORMATION

  • Project Name
  • Property address/location
  • Photographs (if available)
  • Estimated Value
  • Loan Request
  • Offering memorandum (purchases only, and if available) 
  • Details of commercial space (if any) 
  • Purchase/contract price 
  • Settlement date (refinances only)  
  • Year built (or substantially rehabilitated) 
  • Any third party reports that have been completed (market study, appraisal, phase-1, etc)
  • Property construction type
  • Rental comparables (if available) 
  • Break down of unit types (i.e. 1br/1ba, 2br/1ba, etc)

FINANCIAL INFORMATION

  • Existing debt, maturity date and interest rate (refinances only)
  • Last 3 years P&L
  • Trailing 12 month, month by month P&L
  • Current rent roll
  • 12 months occupancy history
  • Section 8 contract (if applicable) 
  • Repairs planned for the next 12 months 

SPONSORSHIP

  • Borrower entity name
  • Management: company name and experience
  • Major principals: names and experience 
  • Major principals: schedule of real estate owned

FHA 221(d)(4) For Construction or Substantial Rehabilitation:

  • Project name
  • Property address/location
  • Loan Request
  • Brief narrative description of the project
  • Details of commercial space (if any) 
  • Estimate of construction timeline (construction timeline through stabilization)
  • Purchase price of existing property and settlement date (if not yet purchased)
  • Photos (if available)
  • Any third party reports that have been completed (market study, appraisal, phase-1, etc)
  • Value of site (if different from purchase price)
  • Offering memorandum (for purchases only, and if available) 
  • Break down of unit types (i.e. 1br/1ba, 2br/1ba, etc)
  • As-is value (rehab only)

FINANCIAL INFORMATION

  • Pro forma through 12 months of stabilization 
  • Hard and soft construction costs
  • Section 8 contract (if applicable) 
  • Repairs planned for the next 12 months 

SPONSORSHIP

  • Borrower entity name
  • Management: company name and experience
  • Major principals: names and experience 
  • Major principals: schedule of real estate owned