Commercial loan underwriting
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Multi-family
Income Number of 1-bedroom units Average rent 1-bedroom units ANNUAL RENT INCOME 1-BEDROOM UNITS Number of 2-bedroom units Average rent 2-bedroom units ANNUAL RENT INCOME 2-BEDROOM UNITS Number of 3-bedroom units Average rent 3-bedroom units ANNUAL RENT INCOME 3-BEDROOM UNITS Laundry income Pet fees Other income Total number of units Total potential income Expenses Vacancy factor Vacancy losses EGI Effective Gross Income Management fees Management cost Other expenses Property taxes Maintenance Utilities Insurance Legal/accounting Misc other expenses Labor TOTAL other expenses Reserves per unit Annual reserves NOI Net operating income 35 214,500 10 400 48,000 15 500 90,000 10 600 72,000 1,000 3,000 500
5% 10,725 203,775 5% 10,189
10,000 9,000 6,000 2,000 1,000 500 28,500 250 8,750 156,336
DSCR Debt service coverage ratio Maximum P and I mortgage payment annual. Maximum P and I mortgage payment monthly Interest rate Amortization period of loan (months) Maximum possible mortgage Prepared by: Your name here Spreadsheet copyright by www.Mortgage-investments.com
1.25 125,069 10,422 8% 360 1,420,403
Commercial Real Estate Mortgage Qualifier
Annual Income Total potential rent from all units CAM reimbursement Property tax reimbursement Insurance reimbursement Percentage rents Misc. other income Number of inside square feet Total potential annual income Expenses Vacancy factor Vacancy losses EGI Effective Gross Annual Income Management fees Management cost Other annual expenses Property taxes Maintenance Utilities Insurance Legal/accounting Misc other expenses Labor TOTAL other annual expenses Reserves per sq.ft. Annual reserves Allowance for Tenant Improvements and leasing psf TI and Leasing NOI Net operating income, annual DSCR Debt service coverage ratio Maximum P and I monthly mortgage payment permitted for this DSCR Interest rate per year Amortization period of loan (months) Maximum possible mortgage 1.25 6,226 8.00% 360 848,535 100,000 20,000 10,000 5,000 2,000 500 12,000 137,500
5% 6,875 130,625 5% 6,531
5,000 5,000 2,000 2,000 1,000 500 2,000 17,500 0.2 2,400 0.9 10,800 93,394
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