1. Brief statement of the prospective mortgage loan request (including loan amount, sources and use of funds, ‘as-is’ value, ‘as-complete’ value, budget, and exit strategy).
2. Brief description of the mortgaged property including location, square footage, acreage, number and type of units, year built and renovated, and parking information (including number of total spaces, covered and handicapped spaces).
3. Brief description of the Borrower, Principal and property manager including real estate experience and financial capacity.
4. Credit Package including 2 years tax returns, financial statement on ownership entity and loan surety / guarantor(s).
5. Ownership Entity Background and Documentation , By Laws , Partnership Agreements , Executor Agreements
6. Neighborhood map indicating location of the mortgaged property and competitive properties.
7. Evidence of Ownership i.e., if being acquired the Agreement of Sale.  
8. MAI Appraisal
9. Architectural plans and renderings / Engineering plans
10. Survey
11. Marked Up Title Report
12. Environmental Report Phase I
13. Governmental and Agency Approvals / Permits
14. Third Party Agreements i.e. , Utility Authority (s), Bonding requirements
15. Copy of permanent first mortgage loan commitment, if applicable.
16. Set of color photographs (including aerial photographs, if available) of the mortgaged property and surrounding area including buildings and parking area.
17. Property operating statements and occupancy for the past two calendar years. For retail, industrial and office properties, include current year-to-date actual and remainder of the year budget. For multifamily, hotel, self-storage, nursing home, congregate care and mobile home park properties, include trailing 12-month statements. Each signed, dated and certified correct by the borrower.
18. For retail, industrial and office properties only-
    Current rent roll (or other evidence of leasing status), signed, dated, and certified correct by the borrower/principal, detailing the following information for each tenant, where applicable:
    • Tenant name
    • Suite number
    • Square footage of leased space
    • Current annual base rent (with break out of amortized tenant finish)
    • Expense payment provision (pass thru or stop)
19. Schedule of all significant capital expenditures incurred during the past three years, and budgeted for the next 12 months for the Mortgaged Property. Each signed, dated and certified correct by the borrower/principal.

Give us a call to discuss your financing needs.

t.609.457.8500
f.800.878.8263
funding@southxcapital.com