MORTGAGE LOAN INSURANCE TO FACILITATE AFFORDABLE RENTAL PROPERTIES

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "MORTGAGE LOAN INSURANCE TO FACILITATE AFFORDABLE RENTAL PROPERTIES"

Transcription

1 MORTGAGE LOAN INSURANCE TO FACILITATE AFFORDABLE RENTAL PROPERTIES CMHC S Approach to Mortgage Loan Insurance for Affordable Rental Projects Ministry of Municipal Affairs and Housing Updated February 2007

2 Outline: Mortgage Loan Insurance for Affordable Rental Projects Assessment of affordable rental projects Mortgage loan insurance flexibilities Minimum documentation to be provided to CMHC Case studies CANADA MORTGAGE AND HOUSING CORPORATION 2

3 What is Mortgage Loan Insurance? Insurance provided by CMHC to protect Approved Lenders against losses arising from mortgage loan defaults Benefits to Borrower: A larger loan amount at a lower interest rate Available for a variety of residential income-producing projects and purposes Renewal assurance CANADA MORTGAGE AND HOUSING CORPORATION 3

4 What qualifies as Affordable Rental Projects under CMHC s mortgage loan insurance program? New additions to affordable housing stock 5+ units Modest in size and design CANADA MORTGAGE AND HOUSING CORPORATION 4

5 Assessing Affordable Rental Projects Assessment of risk based on: Housing market - demonstrate appropriateness of rents Borrower - demonstrate competence and capacity Project - demonstrate a Net Operating Income (NOI) sufficient to service the debt Funding - assess adequacy of construction budget and funds to complete the project CANADA MORTGAGE AND HOUSING CORPORATION 5

6 Housing Market Factors Affecting Risk Local economic conditions Demographic market trends Market conditions Demand for subject project Sources of Information Housing market reports Feasibility study CANADA MORTGAGE AND HOUSING CORPORATION 6

7 Borrower Competence Property management experience at least 5 years of experience in operating housing projects of similar type and size Construction management ability successfully completed similar projects on time and within budget. Capacity Credit and repayment history break-even cash flow over the past 5 years with excellent credit and repayment history Financial statement review demonstrated viability CANADA MORTGAGE AND HOUSING CORPORATION 7

8 Acceptable Substitutes for the Borrower Criteria (on a case-by-case basis) Property management experience must enter into a contract with a company that has at least 5 years experience operating a housing project of similar type and size Construction experience Where a construction management approach is used, must enter into a formal contract with a parent/affiliated company that has similar experience. Otherwise, must enter into a fixed price contract with a general contractor with similar experience. Credit and repayment history - additional security/guarantee or a higher Debt Coverage Ratio (+0.10) based on actual rents CANADA MORTGAGE AND HOUSING CORPORATION 8

9 Project Physical Location Environmental site assessment (ESA) Building type/unit mix/age/condition Tenure Financial analysis Pro-forma operating statement to demonstrate Net Operating Income (NOI) sufficient to service debt Benchmarks may be useful for carrying out the expense analysis segment CANADA MORTGAGE AND HOUSING CORPORATION 9

10 Benchmarks: Realty taxes Varies compare with properties in neighbourhood Insurance $100 - $150 per unit/year Heating $600 - $850 Hydro $600 - $750 Water & sewer $200 - $400 Maintenance & repair $500 - $800 Management fees 4-6% of Effective Gross Income (EGI) Replacement Reserve 4% of EGI * Effective gross income includes Affordability Payment CANADA MORTGAGE AND HOUSING CORPORATION 10

11 Funding Availability of Funds Sources and Uses of Funds chart to demonstrate adequacy of funding to complete construction Construction Cashflow Projection to ensure sufficient funds are available during the construction period to cover the incurred costs CANADA MORTGAGE AND HOUSING CORPORATION 11

12 Funding cont d Sources and Uses of Funds Sources: Federal funding-ahp $980,000 Uses (Project cost): Land $471,897 Provincial funding- AHP $1,470,000 Hard costs including contingency $4,129,053 Other GST rebate, gifts and Municipal waiver $566,468 Soft costs $427,660 Borrower s equity $460,545 Cost of Financing $45,000 Insured mortgage excluding provincial portion $1,870,000 GST $273,403 Total $5,347,013 Total $5,347,013 CANADA MORTGAGE AND HOUSING CORPORATION 12

13 In summary, the Maximum Loan is established through the following process: Lending Value market value project cost Loan-to-Value Ratio (LTV) Loan/lending value Debt Coverage Ratio (DCR) Net operating income/principal & interest Maximum Loan LTV DCR CANADA MORTGAGE AND HOUSING CORPORATION 13

14 Mortgage Loan Insurance Flexibilities CMHC introduced a series of enhancements to the usual loan insurance criteria to facilitate the creation of affordable rental housing units. These enhancements are known as mortgage loan insurance flexibilities. CANADA MORTGAGE AND HOUSING CORPORATION 14

15 These flexibilities include: Reduced equity requirements Reduced income required to cover debt payments Relaxation of rent-up requirements Extended amortization period Reduced/waived mortgage loan insurance premiums CANADA MORTGAGE AND HOUSING CORPORATION 15

16 AFFORDABILITY CRITERIA The project s level of affordability will determine the degree of mortgage loan insurance flexibility available. Three levels of affordability criteria derived from distribution of rents in the market on a rent percentile* basis. Level I - Level 2 - Level 3 - The majority of rents in the project are < 80 th rent percentile The majority of rents in the project are < 65 th rent percentile Federal-Provincial Affordable Housing Program (AHP) projects * For example, if the 80 th rent percentile rent is $700, then 80 % of all surveyed units would have rents that fall below $700. CANADA MORTGAGE AND HOUSING CORPORATION 16

17 AFFORDABILITY CRITERIA Rent Percentile (Affordability Criteria 2007) Toronto CMA Level 1 80th Level 2 65th Level 3 Bachelor 1 - Bedroom $850 $990 $781 $915 Project rents meet Federal- Provincial 2 Bedroom 3 Bedroom+ $1,175 $1,350 $1,065 $1,249 Affordable Housing Program requirements CANADA MORTGAGE AND HOUSING CORPORATION 17

18 MORTGAGE LOAN INSURANCE FLEXIBILITIES Level 3 Category Flexibilities Maximum loan Debt coverage ratio Lesser of 95% of project cost or the amount generated using applicable debt coverage ratio, but not to exceed project cost less grants less equity, where applicable Debt coverage ratio requirements based on actual rents, inclusive of CMHC fees, premiums and reserves: 1.10 (term <10 years) 1.00 (term 10 years) CANADA MORTGAGE AND HOUSING CORPORATION 18

19 MORTGAGE LOAN INSURANCE FLEXIBILITIES Level 3 Category Flexibilities cont d Rent-up requirement Extended amortization period Mortgage loan insurance premiums Equity & Grant Injection Rental achievement holdback completely waived prior to rent-up without premium surcharge Full waiver of the surcharge to extend amortization period up to 40 years for the insured loan excluding the affordability payment portion Complete waiver of premiums - refer to table below Grant flow flexibility: Once AHP funding is unconditionally committed to the project, the Lenders may commence insured loan advances. All other equity from the sponsor continues to be required prior to any advancing. MMAH s equity requirement for AHP projects applies herein. CANADA MORTGAGE AND HOUSING CORPORATION 19

20 MORTGAGE LOAN INSURANCE FLEXIBILITIES AFFORDABLE PREMIUM Mortgage Loan Insurance Premiums Loan-to-Value Ratio ( LTV) Base Premium (Standard Rental) Level 1 and 2 Affordable Rental (Base Premium after reduction) Level 3 Affordable Rental 65% 1.75% 1.20% 0.0% 70% 2.00% 1.40% 0.0% 75% 2.25% 1.50% 0.0% 80% 3.50% 2.40% 0.0% 85% 4.50% 3.10% 0.0% 90%* n.a. 3.40% 0.0% 95%* n.a. 3.80% 0.0% CMHC application fees apply under all levels of affordability * Offered on a temporary basis until end of 2009 CANADA MORTGAGE AND HOUSING CORPORATION 20

21 MORTGAGE LOAN INSURANCE FLEXIBILITIES EXAMPLE : LEVEL 3 PROJECT Determining Maximum Loan: 1. Potential Maximum Loan (95% of cost): $5,082,500 (Project cost: $5,350,000) 2. Potential Maximum Loan based on debt coverage ratio of 1.0 and net operating income of $275,000: $3,363,600 (Assume blended amortization period of 27 years 7% interest rate and 10 year term) 3. Potential Maximum Loan based on project cost less grants $3,340,000 less equity, where applicable (Grant=$1,475,000, Equity =$535,000) 4. Maximum loan amount - Lesser of (1) or (2) or (3): $3,340,000 (3) CANADA MORTGAGE AND HOUSING CORPORATION 21

22 MIXED-USE PROJECTS Underwriting considerations for projects with a mix use of affordable, market and/or non-residential components Mixed-use with Level 3 units Level 3 units Level 1or 2 units, market, non-residential Maximum loan Mortgage loan insurance premiums 95% of cost (assuming required debt coverage ratio met) Level 3 requirements 0% - Premiums waived for Level 3 only Respective loan-to-value ratio, debt coverage ratio and equity requirements Respective premium requirements CANADA MORTGAGE AND HOUSING CORPORATION 22

23 MIXED-USE PROJECTS Underwriting considerations for projects with a mix use of affordable, market and/or non-residential components cont d Mixed-use with Non-Level 3 units Level 1or 2 units (majority) Market units Maximum loan (assuming required debt coverage ratio and equity are met) Mortgage loan insurance premiums 95% of lending value *Loan-to-value ratio for Level 1 or % *premiums for Level 1or 2 *Non-residential component will follow its respective guidelines CANADA MORTGAGE AND HOUSING CORPORATION 23

24 VIABILITY ASSESSMENT TOOL CANADA MORTGAGE AND HOUSING CORPORATION 24

25 Minimum documentation to be provided to CMHC: Request - Certificate of Insurance' ( CMHC 60335). Description of the property including construction type, number and type of units, condition, income/expense analysis on Lender s form or CMHC Current credit reports for the Borrower and Guarantors. Signed and up-to-date personal net worth statements for all individual Borrower/Guarantors, including details for any real property held: address, description, income and expenses, mortgage balance, mortgage payment and value. Includes validation for substantive asset-values. Financial Statements for the most recent 5 years for Corporate Borrowers/Guarantors. For Corporate Borrowers indicate the type of structure (i.e. sole proprietorship, limited company, partnership, etc.), the ownership of the entity (including percentage ownership), key individuals, their responsibilities and reporting relationships. Application fee. Borrower s project revenue and expense projections for one year. CANADA MORTGAGE AND HOUSING CORPORATION 25

26 Minimum documentation to be provided to CMHC cont d: Copy of construction budget. A schedule of the construction cashflow projection. Sources and Use of Funds schedule demonstrating that anticipated costs are equal to the identified sources of funding (equity, funding, loan amount). Copies of all third party contribution agreements or letters of intent from appropriate parties. Copies of all rent supplement agreements or letters of intent from appropriate parties. Copies of operating subsidy agreements or letters of intent from appropriate parties. Suite layouts and details/specifications regarding finishes and amenities. If leasehold tenure, a copy of ground lease, supported by the Solicitor s opinion, regarding compliance to CMHC policy. CANADA MORTGAGE AND HOUSING CORPORATION 26

27 Minimum documentation to be provided to CMHC-cont d: A summary of the borrower s past management experience and the résumé of the manager if different from the Borrower. Confirmation that Borrowers /Guarantors mortgage debt repayment is current. For properties with commercial/retail space, the total square footage of the building and the total square footage allocated to commercial/retail space and the analysis of income/expenses and value of the nonresidential space. CANADA MORTGAGE AND HOUSING CORPORATION 27

28 The following documents are usually required later in the process prior to funding, but may be useful for CMHC earlier in the process, if available: Letter from the lender confirming that the Phase 1 Environment Site Assessment for the subject property conforms with CMHC policy relating to environmental risks. Copies of all signed contracts, if available. Confirmation of zoning. Documentation in support of construction budget: Quantity Surveyor s report. CANADA MORTGAGE AND HOUSING CORPORATION 28

29 CONTACTS Contact Caroline Ling Phone number: CMHC general web-site address: CMHC Mortgage Loan Insurance For Multi-Unit Properties: cmhc.ca/en/hoficlincl/moloin/moloinle/mumoloin/upload/multi -Unit-Reference-Guide-Dec-2006.pdf Toll free phone on Affordable Mortgage Loan Insurance guidelines: Multi-Go CANADA MORTGAGE AND HOUSING CORPORATION 29

30 THANK YOU CANADA MORTGAGE AND HOUSING CORPORATION 30

OPEN NEW DOORS TO AFFORDABLE HOUSING

OPEN NEW DOORS TO AFFORDABLE HOUSING OPEN NEW DOORS TO AFFORDABLE HOUSING...With CMHC Mortgage Loan Insurance 65404 As Canada s national housing agency, Canada Mortgage and Housing Corporation (CMHC) is committed to facilitating the creation

More information

...With CMHC Mortgage Loan Insurance

...With CMHC Mortgage Loan Insurance Open New Doors to Affordable Housing...With CMHC Mortgage Loan Insurance 65404 As Canada s national housing agency, Canada Mortgage and Housing Corporation (CMHC) is committed to facilitating the creation

More information

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES LENDING PHILOSOPHY The Housing Finance Authority of Pinellas County (HFA) follows Pinellas County

More information

introduction CANADA MORTGAGE AND HOUSING CORPORATION

introduction CANADA MORTGAGE AND HOUSING CORPORATION introduction CANADA MORTGAGE AND HOUSING CORPORATION More Than Insurance CMHC is well known for mortgage insurance, but we re not only Canada s leading mortgage insurer, we re Canada s national housing

More information

September 4, 2014 MORTGAGEE LETTER 2014-18

September 4, 2014 MORTGAGEE LETTER 2014-18 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER September 4, 2014 MORTGAGEE LETTER 2014-18 TO: All Mortgagees All

More information

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER Special Attention of Notice H 2011-36 All Multifamily Hub Directors

More information

cäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö

cäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö CANADA MORTGAGE AND HOUSING CORPORATION cäéñáäáäáíáéë Ñçê ^ÑÑçêÇ~ÄäÉ eçìëáåö Homeowner Mortgage Loan Insurance As Canada s national housing agency, Canada Mortgage and Housing Corporation (CMHC) is committed

More information

administered by the Office of Healthcare Programs.

administered by the Office of Healthcare Programs. U.S. DEPART M E NT O F H O USING A ND URB AN DE V E L OPM E NT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER December 29, 2011 MORTGAGEE LETTER 2011-40 TO: All

More information

INCOME APPROACH Gross Income Estimate - $198,000 Vacancy and Rent Loss - $9,900

INCOME APPROACH Gross Income Estimate - $198,000 Vacancy and Rent Loss - $9,900 INCOME APPROACH The Income Approach considers the return on Investment and is similar to the method that investors typically use to make their investment decisions. It is most directly applicable to income

More information

EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS.

EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS. EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS. 1. SOURCES OF FUNDS DURING CONSTRUCTION List all funding sources to be used during the construction of the project

More information

Lecture Notes. Dollars and Sense of Building Rehabilitation. Attracting Equity and Debt. National Development Council

Lecture Notes. Dollars and Sense of Building Rehabilitation. Attracting Equity and Debt. National Development Council 1 Dollars and Sense of Building Rehabilitation Attracting Equity and Debt 2 Lecture Notes 927 Dudley Road Edgewood, KY 41017 ph: 859-578-4850 fax: 859-578-4860 2006 All rights reserved. Version: August

More information

DEVELOPMENT FINANCE DIVISION APPLICATION GENERAL INFORMATION

DEVELOPMENT FINANCE DIVISION APPLICATION GENERAL INFORMATION DEVELOPMENT FINANCE DIVISION APPLICATION GENERAL INFORMATION FINANCING FORM 202 Funding Applied For Housing Production Trust Fund $ - Low-Income Housing Tax Credit (LIHTC) $ - Department of Mental Health

More information

HOUSING FINANCE AND LOW-INCOME HOUSING TAX CREDITS. September 2012 With gratitude to Kathleen Foster

HOUSING FINANCE AND LOW-INCOME HOUSING TAX CREDITS. September 2012 With gratitude to Kathleen Foster BASIC AFFORDABLE HOUSING FINANCE AND LOW-INCOME HOUSING TAX CREDITS September 2012 With gratitude to Kathleen Foster Public Housing Finance Today Conventional Public Housing Finance: Capital and operating

More information

PROGRAM FRAMEWORK. Affordable Non-Profit Rental and Home Ownership

PROGRAM FRAMEWORK. Affordable Non-Profit Rental and Home Ownership PROGRAM FRAMEWORK Affordable Non-Profit Rental and Home Ownership June 2014 INTRODUCTION Since 2001, BC Housing has partnered with non-profit societies, government agencies and community organizations

More information

Minimum mortgage amount $50,000. Stated Income: $750,000 Metro Toronto, Metro Calgary, Metro Vancouver; $600,000 rest of Canada.

Minimum mortgage amount $50,000. Stated Income: $750,000 Metro Toronto, Metro Calgary, Metro Vancouver; $600,000 rest of Canada. Product Features Insurer Programs: CMHC & Genworth Loan Purpose Property Type Standard, Rental, Business for Self Stated and Income Qualified, New to Canada, Purchase Plus, Second Home, Flex Down. Purchase

More information

Director s Guide to Credit

Director s Guide to Credit Federal Reserve Bank of Atlanta Director s Guide to Credit This guide was created by the Supervision and Regulation Division of the Federal Reserve Bank of Atlanta, 1000 Peachtree Street NE, Atlanta,

More information

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc.

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc. Multi-family Affordable Housing Capital Solutions Becky Christoffersen, Midwest Housing Development Fund, Inc. Midwest Housing Development Fund, Inc. CDFI since 2000 Revolving loan fund Affordable Housing

More information

FHA Sections 220, 221 (d)(4) & 221 (d)(3)

FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA-Insured Financing for the New Construction or Substantial Rehabilitation Of Multifamily Rental Housing FHA Section 220 provides mortgage insurance for housing

More information

FIRST TIME HOMEBUYERS. Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams.

FIRST TIME HOMEBUYERS. Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams. FIRST TIME HOMEBUYERS Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams. Program Highlights Minimum down payment 5% of the appraised

More information

Rental Rehabilitation Loan Program

Rental Rehabilitation Loan Program Rental Rehabilitation Loan Program Program Information The purpose of the Rental Rehabilitation Loan Program is to provide owners of affordable rental housing in Dakota County with a financial tool to

More information

SINGLE FAMILY DEVELOPMENT

SINGLE FAMILY DEVELOPMENT SINGLE FAMILY DEVELOPMENT Agenda April 1 Introductions Background of class participants Ground rules Course outline and objectives The single family crisis Single family versus multifamily development

More information

Lending guidelines and submission requirements

Lending guidelines and submission requirements Lending guidelines and submission requirements 1 February 2013 Buy-to-let for serious players Submission requirements The following items are required to be submitted on application: For all applications:

More information

CMHC Mortgage Loan Insurance Overview

CMHC Mortgage Loan Insurance Overview CMHC Mortgage Loan Insurance view Mortgage loan insurance is typically required when homebuyers make a down payment of less than 2% of the purchase price. Mortgage loan insurance helps protect lenders

More information

YOUR MORTGAGE PLANNING GUIDE. John Cavan,

YOUR MORTGAGE PLANNING GUIDE. John Cavan, YOUR MORTGAGE PLANNING GUIDE Compliments of John Cavan, TABLE OF CONTENTS This mortgage planning guide will take you through 4 easy steps to OBTAIN a MORTGAGE. 1 2 34 STEP 1 CONNECT 04 ABOUT MY SERVICES

More information

Chapter 19. Residential Real Estate Finance: Mortgage Choices, Pricing and Risks. Residential Financing: Loans

Chapter 19. Residential Real Estate Finance: Mortgage Choices, Pricing and Risks. Residential Financing: Loans Chapter 19 Residential Real Estate Finance: Mortgage Choices, Pricing and Risks 10/25/2005 FIN4777 - Special Topics in Real Estate - Professor Rui Yao 1 Residential Financing: Loans Loans are classified

More information

Calculation of Debt Service Ratios Treatment of Key Inputs

Calculation of Debt Service Ratios Treatment of Key Inputs Calculation of Debt Service Ratios Treatment of Key Inputs Overview of debt service ratios Background Treatment of key inputs Sample calculations Minimum documentation requirements Review questions Gross

More information

Home Buyers Mortgage Guide

Home Buyers Mortgage Guide Section for Non-Residents NEW! Construction Financing Step by Step Guide the complete Construction Financing Step by Step Guide Home Buyers Mortgage Guide Available @ garibaldimortgage.com On-line Application

More information

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio. Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider

More information

Information and Education Seminar

Information and Education Seminar Region of Peel Home in Peel Affordable Ownership Program Information and Education Seminar Program and Process Overview Why launch the Home in Peel Affordable Ownership Program? The Affordable Home Ownership

More information

Affordable Housing: LIHTC Accounting Overview. July 30, 2014

Affordable Housing: LIHTC Accounting Overview. July 30, 2014 Affordable Housing: LIHTC Accounting Overview July 30, 2014 Tax Credits 101 TOPIC Welcome and Overview Project Proforma Roles, Motivations and Responsibilities of Developer and Investor 10% Test 50% Test

More information

Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements

Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements 2014 Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements 30 South Meridian Street, Suite 1000 Indianapolis, Indiana 46204 317.232.7777(p)

More information

Underwriting Commercial Loans

Underwriting Commercial Loans Underwriting Commercial Loans T he objective of this study is to understand the basic principles of underwriting for multifamily housing and commercial real estate loans. As a mortgage broker, real estate

More information

NORTH ISLAND CREDIT UNION

NORTH ISLAND CREDIT UNION NORTH ISLAND CREDIT UNION Policy Section: Business Services Policy Name: Member Business Lending Policy No: 500-05-01 Board Review & Approval: July 21, 2014 Effective Date: July 22, 2014 POLICY STATEMENT

More information

Achieving your goals through Financing. Cooperative Financing Models that may work for you

Achieving your goals through Financing. Cooperative Financing Models that may work for you Achieving your goals through Financing Cooperative Financing Models that may work for you Overview Cooperative Financing Overview of the environment Interest Rates Why now is the best time to borrow Reasons

More information

Prepared for the future. Within your own four walls. Making the dream of your own home come true - step-by-step.

Prepared for the future. Within your own four walls. Making the dream of your own home come true - step-by-step. Prepared for the future. Within your own four walls. Making the dream of your own home come true - step-by-step. Prepared for the future. The dream of your own four walls is as old as mankind itself. Creating

More information

Manufactured Home Feasibility Study

Manufactured Home Feasibility Study Manufactured Home Feasibility Study December 2009 Project Team: The Co-op Housing Federation of BC Darren Kitchen McClanaghan & Associates 4150 West 14 th Ave Vancouver, B.C. V6R 2X5 Phone: (604) 644-9844

More information

COMMERCIAL LOAN OVERVIEW

COMMERCIAL LOAN OVERVIEW COMMERCIAL LOAN OVERVIEW A BORROWER S GUIDE COMMERCIAL LOAN OVERVIEW GUIDE Commercial Mortgage Underwriting Guidelines and Process Commercial financing for commercial properties is underwritten on a case

More information

8.1 Subordinate Debt

8.1 Subordinate Debt 8.1 Subordinate Debt Table of Contents Page 8.1.1 Introduction... 1 8.1.2 Uses and Types of Subordinate Finance... 1 A. Uses... 1 B. Types... 2 8.1.3 Basic Terms and Conditions... 3 8.1.4 Required HUD

More information

Getting Started With A Builders Mortgage

Getting Started With A Builders Mortgage Getting Started With A Builders Mortgage What we ll need to get started on your pre-approval Verification of employment income: most recent T4, Tax Return and Notice of Assessment, Letter of Employment,

More information

BUSINESS LOAN APPLICATION

BUSINESS LOAN APPLICATION BUSINESS LOAN APPLICATION Thank you for your decision in obtaining a commercial loan from our business service division. Please complete the following information as accurately as possible so we may better

More information

Home Builders' President welcomes CMHC mortgage insurance changes

Home Builders' President welcomes CMHC mortgage insurance changes Home Builders' President welcomes CMHC mortgage insurance changes OTTAWA, April 22, 2005 -- The Canadian Home Builders' Association (CHBA) today welcomed Housing Minister Joe Fontana's announcement of

More information

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain

More information

EHDOC Robert Sharp Towers II Limited Partnership (A Florida Limited Partnership) Financial Report October 31, 2014

EHDOC Robert Sharp Towers II Limited Partnership (A Florida Limited Partnership) Financial Report October 31, 2014 EHDOC Robert Sharp Towers II Limited Partnership Financial Report October 31, 2014 Contents Independent Auditor's Report 1 Financial Statements Balance sheet 2 3 Statement of income 4 Statement of changes

More information

Business Planning Worksheets

Business Planning Worksheets Business Planning Worksheets Copyright 2003-2010 Lamar University SBDC Table of Contents Introductory Section... 1 Cover Sheet... 1 Executive Summary... 1 Narrative Section... 2 Description of the Business...

More information

Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014

Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014 Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014 Overview Neighborhood Lending Partners Certified as a CDFI-providing

More information

Region of Waterloo Affordable Home Ownership Program

Region of Waterloo Affordable Home Ownership Program Region of Waterloo Affordable Home Ownership Program Fact Sheet January 2014 update Note: The information in this Fact Sheet is subject to change from time to time at the discretion of the Region of Waterloo

More information

September 1, 2011 MORTGAGEE LETTER 2011-32. Underwriting Policies and Procedures for Commercial Space and Income in HUD-Insured Multifamily Projects

September 1, 2011 MORTGAGEE LETTER 2011-32. Underwriting Policies and Procedures for Commercial Space and Income in HUD-Insured Multifamily Projects U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER September 1, 2011 MORTGAGEE LETTER 2011-32 TO: All Multifamily Hub

More information

NEW MEXICO FINANCE AUTHORITY NEW MARKETS TAX CREDIT PROGRAM LENDING AND CREDIT POLICIES

NEW MEXICO FINANCE AUTHORITY NEW MARKETS TAX CREDIT PROGRAM LENDING AND CREDIT POLICIES NEW MEXICO FINANCE AUTHORITY NEW MARKETS TAX CREDIT PROGRAM LENDING AND CREDIT POLICIES A. PURPOSE The New Mexico Finance Authority ( NMFA ) is granted broad authority to finance projects that stimulate

More information

Revolving Loan Fund for Commercial Development Summary*

Revolving Loan Fund for Commercial Development Summary* Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Commercial Development Summary* Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of Funds:

More information

Revolving Loan Fund for Industrial Development Summary *

Revolving Loan Fund for Industrial Development Summary * Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Industrial Development Summary * Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of

More information

Borrowing 101. Resources. Are you ready to Borrow?

Borrowing 101. Resources. Are you ready to Borrow? Borrowing 101 The BDC wants your business to succeed and in turn pay the BDC back. Our programs are revolving loan funds that require loans to be repaid so that we can lend our dollars to other businesses

More information

Your business plan. helping you with your business planning and forecasting. Name of business. Date when completed

Your business plan. helping you with your business planning and forecasting. Name of business. Date when completed Your business plan helping you with your business planning and forecasting Name of business Date when completed Please read the following notes before completing the form. (You may wish to talk to an accountant

More information

www.development.ohio.gov

www.development.ohio.gov Minority Business Development Division Joseph Brooks (614) 466-5065 joseph.brooks@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services

More information

Tab 2 - Multifamily Housing Core Underwriting Application

Tab 2 - Multifamily Housing Core Underwriting Application Tab 2 - Multifamily Housing Core Underwriting Application An Application is required to be completed for all Agency Multifamily programs. Be sure to complete all sections, answer all questions, and provide

More information

Sample Property 930 LaVergne Ln La Vergne, TN 37086

Sample Property 930 LaVergne Ln La Vergne, TN 37086 Property Report Sample Property Presented by: My Company 123 Main St Anywhere, CA 12345 Office: Mobile: Fax: You can customize the footer too! 1 Overview Sample Property Purchase Info Square Feet (2 Units)

More information

Mortgage Loan Insurance Business Supplement

Mortgage Loan Insurance Business Supplement CANADA MORTGAGE AND HOUSING CORPORATION Mortgage Loan Insurance Business Supplement YEAR-END December 31, March 31, The following Mortgage Loan Insurance Business Supplement is prepared for the year ending

More information

FOR IMMEDIATE RELEASE MAY 5, 2016 ARTIS RELEASES FIRST QUARTER RESULTS: FFO PAYOUT RATIO IMPROVES TO 71.1%

FOR IMMEDIATE RELEASE MAY 5, 2016 ARTIS RELEASES FIRST QUARTER RESULTS: FFO PAYOUT RATIO IMPROVES TO 71.1% FOR IMMEDIATE RELEASE MAY 5, 2016 ARTIS RELEASES FIRST QUARTER RESULTS: FFO PAYOUT RATIO IMPROVES TO 71.1% Today Artis Real Estate Investment Trust ( Artis or the "REIT") issued its financial results and

More information

VUNTUT GWITCHIN FIRST NATION NOTES TO THE NON-CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2005

VUNTUT GWITCHIN FIRST NATION NOTES TO THE NON-CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2005 1. Basis of presentation These financial statements have been prepared on a nonconsolidated basis and do not include the accounts of the First Nation's compensation fund or Vuntut Development Corporation,

More information

CONSTRUCTION AND PERMANENT LOAN FINANCING TERM SHEET

CONSTRUCTION AND PERMANENT LOAN FINANCING TERM SHEET CONSTRUCTION AND PERMANENT LOAN FINANCING TERM SHEET This Term Sheet is to be utilized for disclosure of possible terms and conditions only. This is not to be construed as a commitment to lend. Terms and

More information

HUD INSURED LOANS for ACQUISITION or REFINANCE of EXISTING OCCUPIED RENTAL APARTMENTS Section 223(f) and 202/223(f)

HUD INSURED LOANS for ACQUISITION or REFINANCE of EXISTING OCCUPIED RENTAL APARTMENTS Section 223(f) and 202/223(f) HUD INSURED LOANS for ACQUISITION or REFINANCE of EXISTING OCCUPIED RENTAL APARTMENTS Section 223(f) and 202/223(f) ~ Multifamily Accelerated Processing ~ PROGRAM FEATURES Fixed-rate, level pay Non-recourse

More information

Buy to Let Lending Criteria. 16th October 2015 10.15/DW/65626/JAV

Buy to Let Lending Criteria. 16th October 2015 10.15/DW/65626/JAV Buy to Let Lending Criteria 16th October 2015 10.15/DW/65626/JAV ...about the loan Legal Charge Loan Purpose Repayment Methods Mortgage Term Loan Size Loan-to-Value Monthly Repayment Deposits Offer Validity

More information

Welcome! First Time Homebuyers Webinar

Welcome! First Time Homebuyers Webinar Welcome! First Time Homebuyers Webinar The PenFinancial Team Tina Antonio Branch Manager Dorchester Branch Cindy Cwiertniewski Branch Manager Lake Street Carm Mancini Branch Manager Heritage Branch Rob

More information

Discretionary Capital Expenditures. Discretionary Capital Expenditure. Presented by Byron Smith, CCIM

Discretionary Capital Expenditures. Discretionary Capital Expenditure. Presented by Byron Smith, CCIM Discretionary Capital Expenditures Discretionary Capital Expenditure Presented by Byron Smith, CCIM Discretionary Capital Expenditure Case Study Overview During the holding period of a commercial real

More information

General Overview of Lending Capabilities

General Overview of Lending Capabilities Anthony R. D Ascoli, CIMA, CRPC UBS Financial Services Inc. Senior Vice President Investments D'Ascoli Financial Group Portfolio Manager 750 Washington Blvd, 11 th Fl anthony.dascoli@ubs.com Stamford,

More information

INCOME APPROACH. Leased Fee Income Approach Example

INCOME APPROACH. Leased Fee Income Approach Example INCOME APPROACH The Income Approach considers the return on Investment and is similar to the method that investors typically use to make their investment decisions. It is most directly applicable to income

More information

A Consumer s Guide to. Buying a Co-op

A Consumer s Guide to. Buying a Co-op A Consumer s Guide to Buying a Co-op A Consumer s Guide to Buying a Co-op In the United States, more than 1.2 million families of all income levels live in homes owned and operated through cooperative

More information

Co-operative Housing Refinancing Partnership

Co-operative Housing Refinancing Partnership Co-operative Housing Refinancing Partnership Questions & Answers Introduction The purpose of this Q&A is to provide basic coverage of key issues and set out the roles and responsibilities of various stakeholders

More information

Property Report : House in Dallas

Property Report : House in Dallas Property Report : House in Dallas Generated on: Jul 6, 2016 Author: Guest Page 1 of 11 Table of Contents Executive Summary 3 Property Description 4 Operational Effectivness 5 Financial Effectivness 6 Financing

More information

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS THE OXBRIDGE FHA FACILITY FHA TERM SHEETS Set forth below are the various types of FHA Loans for which the Oxbridge FHA Facility will provide GAP funding (i.e. funding of borrower equity requirement) to

More information

THE REGIONAL MUNICIPALITY OF YORK

THE REGIONAL MUNICIPALITY OF YORK THE REGIONAL MUNICIPALITY OF YORK Housing York Inc. Report of the General Manager NEW DEVELOPMENT OPPORTUNITY ESSEX AVENUE, RICHMOND HILL 1. RECOMMENDATIONS It is recommended that: 1. The Corporation enter

More information

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 Dale Kroop, Director TO ALL INTERESTED LOAN APPLICANTS NOTICE OF AVAILABLE FUNDS SMALL

More information

FSP SOP 94-6-a PROPOSED FASB STAFF POSITION. No. SOP 94-6-a. Title: Nontraditional Loan Products. Comment Deadline: November 11, 2005.

FSP SOP 94-6-a PROPOSED FASB STAFF POSITION. No. SOP 94-6-a. Title: Nontraditional Loan Products. Comment Deadline: November 11, 2005. PROPOSED FASB STAFF POSITION No. SOP 94-6-a Title: Nontraditional Loan Products Comment Deadline: November 11, 2005 Introduction 1. This FASB Staff Position (FSP) is in response to inquiries from constituents

More information

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Presented by Allen McConnell, Manager Minority Business Development Division Slide 1 Access to Financial Assistance

More information

The Law of First Impressions A Practical Guide to Mortgage Applicants

The Law of First Impressions A Practical Guide to Mortgage Applicants The Law of First Impressions A Practical Guide to Mortgage Applicants Increased Importance of Borrower Financial Statements For Commercial Real Estate Financing Robert T. Gibney Real estate investors prepare

More information

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM The State of New

More information

Navigating with a REALTOR

Navigating with a REALTOR HOMEBUYERS ROAD MAP Navigating with a REALTOR YOUR REALTOR CAN HELP YOU: REALTORS are experienced in everything you need to know and do when buying a home. Navigate the home buying process and paperwork

More information

#1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition?

#1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition? Responses to On-Line Questions from SBA 504 Teleseminar #1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition? A: We operate entirely independent from

More information

Dr. Debra Sherrill Central Piedmont Community College

Dr. Debra Sherrill Central Piedmont Community College Dr. Debra Sherrill Central Piedmont Community College 1 2 Describe the benefits and pitfalls of renting versus owning a home. List the steps required to obtain a mortgage loan. Identify mortgage options

More information

Home Financing Guide

Home Financing Guide Home Financing Guide Table of Contents Is Home Ownership Right for You? 1 Basics about Your Mortgage Options 2 Conventional or High Ratio Mortgage 3 Options for a Down Payment 3 Understanding Amortization

More information

MULTI-FAMILY LOAN OVERVIEW

MULTI-FAMILY LOAN OVERVIEW MULTI-FAMILY LOAN OVERVIEW A BORROWER S GUIDE MULTI-FAMILY LOAN OVERVIEW GUIDE Multi-Family Mortgage Underwriting Guidelines and Process Commercial financing for multi-family properties is underwritten

More information

NZQA Expiring unit standard 26286 version 2 Page 1 of 5

NZQA Expiring unit standard 26286 version 2 Page 1 of 5 Page 1 of 5 Title Demonstrate knowledge of the mortgage industry, lending principles, home loan products and apply the application process Level 4 Credits 5 Purpose People credited with this unit standard

More information

HOME FINANCING GUIDE

HOME FINANCING GUIDE HOME FINANCING GUIDE SECTION 1: Mortgage Loans Available Fixed Rate Mortgages A fixed rate mortgage is a home loan with a rate that remains the same over the entire term of the loan, regardless of how

More information

Financial Statements December 31, 2014 and 2013 Josephine Commons, LLC

Financial Statements December 31, 2014 and 2013 Josephine Commons, LLC Financial Statements Josephine Commons, LLC www.eidebailly.com Table of Contents Independent Auditor s Report... 1 Financial Statements Balance Sheets... 3 Statements of Operations and Members Equity...

More information

Financing Residential Real Estate

Financing Residential Real Estate Financing Residential Real Estate Chapter 1: Finance and Investment Borrowing Money to Buy a Home Investments and Returns Types of Investments Ownership Investments Debt Investments Securities Investment

More information

Nova Scotia Farm Loan Board. Financial Statements March 31, 2015

Nova Scotia Farm Loan Board. Financial Statements March 31, 2015 Nova Scotia Farm Loan Board Financial Statements March 31, Management's Responsibility for the Financial Statements The financial statements have been prepared by management in accordance with Canadian

More information

Commercial Real Estate Lending for Small Businesses

Commercial Real Estate Lending for Small Businesses Commercial Real Estate Lending for Small Businesses Tuesday, June 30, 2015 Dan Betancourt Community First Fund Jane Bittcher Bridgeway Capital Jim Buerger Community First Fund Intro to Commercial Real

More information

Words to Know When Buying a Home

Words to Know When Buying a Home Words to Know When Buying a Home Adjustable mortgage interest rate: With an adjustable rate, both the interest rate and the mortgage payment vary, based on market conditions. Amortization: Length of time

More information

The GRM does not include expenses such as property tax, insurance, operating costs, and vacancies.

The GRM does not include expenses such as property tax, insurance, operating costs, and vacancies. Common Real Estate Investment Formulas I. Introduction Many agents represent clients who are investors. These investor clients can vary from first time investors buying their first rental property to very

More information

DEPARTMENT OF LABOR, LICENSING AND REGULATION SUBTITLE 03 - Commissioner of Financial Regulation. Chapter: 09.03.

DEPARTMENT OF LABOR, LICENSING AND REGULATION SUBTITLE 03 - Commissioner of Financial Regulation. Chapter: 09.03. DEPARTMENT OF LABOR, LICENSING AND REGULATION SUBTITLE 03 - Commissioner of Financial Regulation Chapter: 09.03.01 - Credit Unions Authority: Financial Institutions Article, 2-105.1, Annotated Code of

More information

State Small Business Credit Initiative

State Small Business Credit Initiative State Small Business Credit Initiative Collateral Enhancement Program Ohio Capital Access Program Targeted Investment Program The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services.

More information

OFFER HOMEBUYERS ROAD MAP

OFFER HOMEBUYERS ROAD MAP OFFER HOMEBUYERS ROAD MAP Navigating with a REALTOR Your REALTOR can help you: REALTORS are experienced in everything you need to know and do when buying a home. Navigate the home buying process and paperwork

More information

VIRGINIA SMALL BUSINESS FINANCING AUTHORITY LOAN GUARANTY PROGRAM. Application Instructions

VIRGINIA SMALL BUSINESS FINANCING AUTHORITY LOAN GUARANTY PROGRAM. Application Instructions VIRGINIA SMALL BUSINESS FINANCING AUTHORITY LOAN GUARANTY PROGRAM Application Instructions GENERAL INFORMATION: The Virginia Small Business Financing Authority's (VSBFA) Loan Guaranty Program is designed

More information

RULES OF TENNESSEE HOUSING DEVELOPMENT AGENCY RENTAL HOUSING LOAN PROGRAM TABLE OF CONTENTS

RULES OF TENNESSEE HOUSING DEVELOPMENT AGENCY RENTAL HOUSING LOAN PROGRAM TABLE OF CONTENTS RULES OF TENNESSEE HOUSING DEVELOPMENT AGENCY RENTAL HOUSING LOAN PROGRAM TABLE OF CONTENTS 0770 1 4.01 Mortgage Loans 0770 1 4.06 Design and Occupancy Standards 0770 1 4.02 Development Proposal and 0770

More information

CITY OF SOLEDAD FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM FIRST MORTGAGE LENDER INSTRUCTIONS 248 MAIN STREET, SOLEDAD CA 93960

CITY OF SOLEDAD FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM FIRST MORTGAGE LENDER INSTRUCTIONS 248 MAIN STREET, SOLEDAD CA 93960 FIRST MORTGAGE LENDER INSTRUCTIONS Maximum Home Sales Price Home sale prices cannot exceed 95% of the area median home value for Soledad (see Table 1: Maximum Purchase Price per Unit). Maximum Loan-to-Value

More information

NOVA SCOTIA HOUSING DEVELOPMENT CORPORATION BUSINESS PLAN 2010-2011

NOVA SCOTIA HOUSING DEVELOPMENT CORPORATION BUSINESS PLAN 2010-2011 NOVA SCOTIA HOUSING DEVELOPMENT CORPORATION BUSINESS PLAN 2010-2011 TABLE OF CONTENTS MESSAGE FROM THE NOVA SCOTIA HOUSING DEVELOPMENT CORPORATION...1 1.0 MISSION/ MANDATE...2 2.0 STRATEGIC GOALS...2 3.0

More information

Chapter 11. Lender Underwriting HUD Review. 11.1 Lender Underwriting

Chapter 11. Lender Underwriting HUD Review. 11.1 Lender Underwriting Lender Underwriting HUD Review 11.1 Lender Underwriting A. Pre-application. When a Lender is contemplating submitting a pre-application to HUD, the Lender should provide HUD immediately in writing the

More information

Understanding the APOD How to Crunch the Numbers on Your Investment Transaction

Understanding the APOD How to Crunch the Numbers on Your Investment Transaction Understanding the APOD How to Crunch the Numbers on Your Investment Transaction Commercial Investment Education Alliance Commercial Success Series 105 1 Commercial Investment Education Alliance Please

More information

Federal Home Loan Bank of Cincinnati Affordable Housing Program

Federal Home Loan Bank of Cincinnati Affordable Housing Program Federal Home Loan Bank of Cincinnati Affordable Housing Program Damon V. Allen, Presenter 2014 National Community Land Trust Conference This presentation may contain forward-looking statements that are

More information

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #:

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #: LOAN APPLICATION Name of Business (Legal Name): Business Phone: Federal Tax ID #: Fax: Principals Name: Phone: Social Security #: Type of Business Sole Proprietorship Corporation Partnership Date Established

More information

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Credit is the lifeblood of South Louisiana business, especially for the smaller firm. It helps the small business owner get started, obtain equipment, build inventory,

More information