Clarity before
your next move.
Prepare your financing file, understand the terms, and ask the questions that matter.
Discuss your scenarioYour financing conversation starts here.
Property & Project
Have the property address, purchase price or estimated value, property type, and intended use ready. For a renovation, include a scope of work, budget, and expected timeline.
Income & Expenses
For rental properties, gather leases, the rent roll, operating expenses, property taxes, insurance, and association dues. Note vacancies and any planned changes.
Borrower & Exit Strategy
Be ready to discuss your experience, borrowing entity, available funds, requested loan amount, and plan to sell, refinance, or hold the property.
Required documentation varies by lender and program. Ask our team how to securely provide sensitive documents.
Look beyond the interest rate.
Upfront Costs
Compare points, origination fees, lender charges, and third-party costs. Ask whether deposits are refundable and when each fee is due.
Monthly & Exit Costs
Review the payment structure, loan term, balloon payment, prepayment provisions, and extension options alongside the quoted rate.
Closing Requirements
Check reserves, appraisal requirements, guarantees, renovation draw procedures, and outstanding conditions against your timeline.
A few terms worth knowing.
DSCR — Debt Service Coverage Ratio
A measure of income available to cover debt payments. Rental loan programs may calculate it using rent and the proposed housing payment; commercial programs may use net operating income and debt service. The lender’s method matters.
LTV — Loan-to-Value
The loan amount divided by the property value used by the lender. Purchase and refinance programs may use different valuation rules.
LTC — Loan-to-Cost
The loan amount divided by eligible project costs. Ask which acquisition, renovation, and other costs the lender includes.
Points & Origination Fees
One point equals one percent of the loan amount. Confirm what each charge covers and whether it is paid at closing or deducted from proceeds.
Prepayment Provisions
Some loans charge a fee if paid off within a specified period. Review the schedule, exceptions, and effect on your planned sale or refinance.
Renovation Draws & Reserves
Renovation funds may be released as work is completed and inspected. Reserves are funds a lender requires you to retain or deposit. Both can affect the cash you need to complete your project.
Put your numbers in context.
Use our financing calculators for an initial estimate, or ask us to review a loan offer with you. Estimates are planning tools; actual terms depend on lender review.
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