Apartment / Multi-Family Property Financing Checklist

This checklist is provided for the most commonly required items for Apartment/Multi-Family financing. No two transactions are ever exactly alike, but the following list will provide guidelines for the initial items we will require to begin underwriting. Additional items may be requested or items may not be required. If you are unsure whether an item is applicable to your situation, please contact us to discuss.

Current Rent Roll - Including

  • Tenant Name and Unit Address
  • Unit Type - Number of bedrooms/bathrooms
  • Lease commencement and expiration
  • Any lease concessions in effect

Current Year-to-Date Operating Statement for Property - Including

  • All sources of income
  • Property Taxes
  • Insurance
  • Utilities
  • Repairs and Maintenance
  • Management/Professional Fees

Prior Two (2) Year-End Operating Statements for Property - Including

  • All sources of income
  • Property Taxes
  • Insurance
  • Utilities
  • Repairs and Maintenance
  • Management/Professional Fees

Narrative Description of Property

  • Include a full description of the property including age, land size, and improvements including square footage. The best source for this information is an existing appraisal, if available.

Copy of Sale Contract if this is a purchase transaction.

If refinancing, provide the original purchase price for the property, and details pertaining to the existing debt including lender, balance and terms including pre-payment terms.

Photos of property, inside and out, electronic preferred.

Survey or Site Plan, if available.

Current Personal Financial Statement for borrowers with >10% ownership.

Prior Two (2) years Federal Income Tax returns for borrowers with >10% ownership.

Summary of Capital Improvements to property for the past three (3) years, if available.

Summary of Commercial Leases (if mixed-use property). Include -

  • Lease commencement and expiration
  • Lease rate - show any escalations or concessions in effect.

Contact Caffrey & Company

11225 College Blvd., Suite 125
Overland Park, KS 66210
Telephone: (913) 402-7077


Current Rates (10/12/2017)

  • Apartments 4.26%
  • Mobile Home Park 4.26%
  • Anchored Retail 4.49%
  • Non-Anchored Center 4.79%
  • Single Tenant Retail 4.39%
  • Office 4.79%
  • Industrial 4.44%
  • Self-Storage 4.59%
  • Medical Office 4.34%
  • Hotel 4.69%
  • Owner Occupied 4.34%
  • Land 6.84%
  • Other 5.09%

Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.


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