← Back to SectionsSECTION 5
Land Acquisition
BORROWER INFO:
Borrower Name
Home Address
Email
Phone
What is the Borrower's Self-Declared FICO Score?
PROPERTY INFO:
Subject Property Address
Total acreage
Number of parcels / lots
Purchase Price
Down Payment Amount (min is 35%)
Proof of borrower's contribution (last two bank statements)
Current zoning
Intended use (subdivision, townhomes, mixed use, etc.)
Is the land currently improved (roads, utilities, grading)?
If improved, describe existing improvements
Is it shovel ready?
Estimated finished lot value (per lot and total)
Do you have a preliminary plat / site plan?
Have entitlements / zoning approvals been obtained?
If yes, describe the current status of entitlements
Are there any known environmental issues or reports (Phase I/II)?
Estimated horizontal development budget (land development only)
Estimated vertical construction budget (if applicable)
Estimated project timeline (acquisition, development, construction, exit)
Exit strategy (sell finished lots / build and sell / build and hold)
Anything else we should know about this transaction
ENTITY INFO:
Members of LLC/Company
How much ownership does the Sr. Member own
SREO / TRACK RECORD:
How many past similar vested projects do you have in the last 3 years where you signed the HUD's:
(Complete our track record SREO mandatory form)
(Get signed HUD's and Operating Agreements for each property on the SREO)
How many land development projects have you completed in the last 3 years?
What is the approx balance in your bank accounts? (Liquidity)
What is the most important thing to you with this loan request? (Example, closing quickly, down payment, etc.)
ADDITIONAL NOTES: