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Simple Underwriting for Commercial Loans.

Commercial loan application (Word document)

Please print and fill in the information on the form below. Or download our ExcelŽ compatible commercial underwriting spreadsheet. Also available as an on-line spreadsheet.

See also our ExcelŽ compatible income property 10-year income and expense analysis spreadsheet. This10-year income property spreadsheet is also available on-line with nothing to download.

Multi Family

Total potential income for all units, including rent, laundry, pet fees etc.  
Number of units  
Deduct 5% or actual vacancy or actual vacancy  
EGI or Effective Gross Income  
Deduct 5% or market cost from EGI for management fees  
Deduct total of all expenses. Property taxes, insurance, maintenance, labor, legal/accounting etc.  
Deduct $270 per unit per year for reserves  
Result is NOI or net operating income  
Enter the DSCR required Debt Service Coverage Ratio.  
Divide the NOI by the DSCR for the maximum amount available to pay the mortgage.  

Commercial

Total potential  income for all commercial space, including common area reimbursements, percentage rents, property tax reimbursement etc.  
Total gross interior square feet  
Deduct 5% or actual vacancy or actual vacancy  
EGI or Effective Gross Income  
Deduct 5% or market cost from EGI for management fees  
Deduct total of all expenses. Property taxes, insurance, maintenance, labor, legal/accounting etc.  
Deduct $0.20 per square foot for reserves  
Deduct $0.90 per square foot for Tenant Improvements and Leasing costs  
Result is NOI or net operating income  
Enter the DSCR required Debt Service Coverage Ratio.  
Divide the NOI by the DSCR for the maximum amount available to pay the mortgage.  

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