Underwriting Submission Checklist:*
1. Current rent roll.
2. Most recent three years and current YTD
P & L’s for subject property.
3. Most recent three years executed personal tax returns for all principals.
4. Current personal financial statements with real estate schedule for all principals.
5. Resumes for all principals including all commercial real estate experience.
6. Most recent three years executed tax returns
for the borrowing entity.
7. Recent credit report for each principal.
8. Copies of executed leases.
9. Color photographs of all exterior sides
of property, common areas, and street views.
10. Property and area description, brochures, websites, or executive summary.
11. Old appraisals if available.
12. Proforma/cash flow projections.
13. Purchase contract.
14. Title report.
15. Borrowing entity documentation: LLC, corporate, partnership, etc.
16. Existing debt payoff and maturity dates.
17. Insurance policies, licenses, tax bills, etc.
18. Copy of management agreement.
19. Site plan and survey.
20. Development plan with budget.
21. Building plans, permits, approvals, etc.
*Dependant on project type and needs, not all items applicable and additional items may be requested. All documentation to be submitted digitally.
Given the long term relationships that Rincon Commercial Capital maintains with our capital providers, we are able to quickly and efficiently process our client's financing requests, regardless the funding size requirement. This enables our investors, developers, brokers, and owner-user clients to smoothly receive financing approval for their commercial real estate projects and move to funding without interruption.
The process towards financing approval and funding begins with contacting one of
Rincon Commercial Capital's commercial capital advisors to establish your specific capital needs and review the documentation necessary to process and underwrite your file. After submission and review of requested documentation, a Letter of Intent (LOI) for initial financing terms is issued. If the LOI terms are agreed upon, then all necessary third party reports can be ordered and a Letter of Commitment (LOC) is issued with the final loan terms, documentation, and funding requirements. Once the reports are satisfactorily completed and all LOC requirements satisfied, final underwriting is completed and closing documents are issued for funding.