Senvesco Real Estate Financial Services

Full Documentation/Full Disclosure Loans Full Documentation/Full Disclosure Loans

Full Doc loans will give you the lowest possible market interest rate. The loan amount will be based on the net income after debt coverage ratios applied. Cash out will be limited. These loans are generally for borrowers with strong cash flow, good credit rating, interest rate sensitive and do not require high cash out amounts.

The following information and documentation is required to be considered for a
Full Disclosure loans.
The loan amount you are requesting;

Federal Tax filing for the last two years. Also the last two years Operating Statement. Schedule E’s and C’s included

Date of construction for the property even if it is an approximate date.

If it is a refinance, what is the existing debt amount to be paid off?, the name of the lender?. Original purchase price and date.

If it is a Purchase, what is the purchase price?, any 1031 exchange and any items/dates that are critical to the transaction?
Title to be vested in, the names of the principal/s, their respective net worth (attach financial statement/s), management experience/s with respect to the property to be acquired.

Stated Income and Stated Assets Loans

The Stated Income/Stated Asset loans are based on the market value of the property regardless of the income generated by the property. The loan amount is $1,000,000 maximum, and up to 85% of the value on Multi Family, Mixed Use properties, and 70% of the value on Industrial properties. These loans are generally for borrowers with limited cash flow, high equity in property, not interest sensitive, and requiring high cash out amount for any purpose. The rates are generally 2 to 3 % higher than full doc loans.

The following information and documentation is required to be considered for a
Stated Income / Stated Asset Loans.

The loan amount you are requesting (Maximum loan size: $1,000,000);

Federal Tax filing for the last two years (only the pages showing the entity of the tax payer)
Date of construction for the property even if it is an approximate date.

If it is a refinance, what is the existing debt amount to be paid off?, the name of the lender?. Original purchase price and date.
If it is a Purchase, what is the purchase price?, any 1031 exchange and any items/dates that are critical to the transaction?
Title to be vested in, the names of the principal/s, their respective net worth (attach financial statement/s), management experience/s with respect to the property to be acquired.

MULTI FAMILY / APARTMENTS: Current rent roll. Property address, number of units, unit mix, and total building square footage.

COMMERCIAL / INDUSTRIAL: Lease/Rent Roll. Property address, tenants names, net rentable square footage (NRSF) occupied, current lease rate, original move in date, current lease-begin date, current lease-end date, expenses paid, options to extend etc.

MIXED-USE: Lease/Rent Roll. Property address, tenants names, net rentable square footage (NRSF) occupied and separated as Residential Unit and Retail etc., current lease rate, original move in date, current lease-begin date, current lease- end date, expenses paid, options to extend.