Submission Checklist

womanDOCUMENTATION REQUIRED FOR LOANS

1. A brief overview of the mortgage request, including:

  1. The loan amount
  2. A summary of your sources and uses of funds
  3. The estimated present value of the property
  4. The estimated completed value of the property, if renovation is involved
  5. Your exit strategy


2. A description of the subject property, including:

  1. The type of property
  2. When it was built and the time of major renovations, if known
  3. The square footage of the building
  4. The size of the building “footprint” and number of stories
  5. A brief description of the building exterior, roof type, HVAC, etc.
  6. The square footage of the land
  7. The number and types of units, if multifamily
  8. Parking information
  9. Location
  10. Site description, including availability of utilities, site topography, etc.

3. A summary of the borrower and principals, including property management experience, development and rental experience, and financial capabilities (please include a CMF documents section).

4. A map showing similar properties in the immediate area.

5. Color photographs of each side of the subject property and the surrounding buildings and streets

6. Two years operating statements, schedule e’s or tax returns, together with year to date operating statements.

7. A current rent roll (See the CMF documents section). This should contain the tenant name, suite number, square footage, current base rent, lease type-net or gross, expense payment terms, and number of bedrooms (if multi-family).

8. A description of all capital improvements the past three years and the approximate cost.

9. A list of major improvements that are required the next two years and the approximate cost

10. Information of recent appraisals or environmental assessments



Commercial Mortgage Fund, LLC • 8300 Norman Center Drive, Suite 720 • Bloomington, MN 55437