MWM Ground Up Construction Application

For 1-4 unit investment and Commercial Properties

A commercial real estate loan on a property that is being built from the ground up. Ground up construction involves starting a building project from a parcel of land and working toward a finished building. This can also be a full tear down and re-build.

We do these loans for 1-4 Unit investment properties (PUDs included) and pure commercial properties (Ex. Strip Mall, Self-Storage facility, Multi Family Building 5+ units).

Entity Type*

Name of the Borrowing Entity you wish to close in*

Most Commercial Loans will require you to close in an Entity. There are few options to close in your personal name.

How many members make up the Borrowing Entity?*

Please include anyone who has any ownership % in the entity

Borrower Ownership %

Sole Member entities have 100% ownership to the Borrower

Borrower's Personal Name*

First NameLast Name

Home Phone #*

Please enter a valid phone number.

Mobile #*

Please enter a valid phone number.

Borrower's Email*

example@example.com

Borrower's Home Address*

Street Address

Street Address Line 2

CityState

Zip Code

2-Member Entity Info*

	First Name	Last Name	FICO	% Owner
Guarantor
Member #2

3-Member Entity Info*

	First Name	Last Name	FICO	% Owner
Guarantor
Member #2
Member #3

4-Member Entity Info*

	First Name	Last Name	FICO	% Owner
Guarantor
Member #2
Member #3
Member #4

5-Member Entity Info*

	First Name	Last Name	FICO	% Owner
Guarantor
Member #2
Member #3
Member #4
Member #5

Borrower's Middle FICO/Credit Score:*

To check your credit scores for $1 for 7 days please open another webpage and go to: https://partner.idiq.com/inviteapartner?zid=33142

Borrower's U.S. Citizenship Information*

U.S. CitizenPermanent Resident AlienNon-Permanent Resident AlienOther

Does the borrower Rent or Own their primary residence?*

RentOwn

What is your monthly mortgage payment?*

Please put $0.00 if you own your home free and clear.

What is your monthly Rent payment?*

Does the borrower have any of the following we need to know about?:IRS issues/liens, Tax liens, judgments, past bankruptcies, past chapter filings, past foreclosures, current or past home modifications, recent or pending lawsuits against them, current delinquent bills, or any current or past credit issues*

YesNo

Please select which one(s) is/are applicable.*

Please elaborate on your IRS Issue(s) / Liens in detail*

How much do you owe the IRS?*

Are you currently on a payment plan with the IRS for this lien?*

YesNo

When did you begin your IRS Payment Plan*

Date

Please elaborate on your Tax Lien in detail*

How much do you owe on this/these tax lien(s)?*

Please elaborate on your Judgment in detail*

When did this Judgment occur?*

Date

Please elaborate on your Bankruptcy(ies) in detail*

When did this Bankruptcy occur?*

Date

Please elaborate on your past Bankruptcy in detail including the type (Ex. Ch.11 or 7). What date was the Bankruptcy initially filed and what date was it dismissed?*

When did this Past Chapter Filing occur?*

Date

Please elaborate on your Home Modification in detail*

When did this Home Modification occur?*

Date

Please elaborate on your Recent or Pending Lawsuit in detail*

What is the status of this lawsuit?*

Pending / OngoingClosed out & Concluded

When was this Lawsuit concluded?*

Date

Please elaborate on your Recent or Current Delinquent Bill(s) in detail*

Please elaborate on your Recent or Current or Past Credit Issue(s) in detail*

Please elaborate on your Short Sale(s) in detail*

When was this Short Sale?*

Date

Has the borrower ever had a Late Mortgage Payment?*

YesNo

When did the most recent Mortgage Late occur?*

Date

Has the borrower ever been convicted of a felony?*

YesNo

When did the Felony occur?*

Date

Please elaborate on the Felony Charge in detail*

Please be sure to state the formal charge

Does the Borrower file taxes with the IRS regularly every year?*

YesNo

What years have NOT been filed?*

Please describe why the borrower has not filed Taxes for the selected years*

Does the borrower own any other investment / rental properties?*

YesNo

Current SREO Information*

	#
# Rental Properties Owned
# of Units Across all Rental Properties
# of Units currently Leased

Does the borrower (or borrowers) have any previous Rehab Experience?*

YesNo

Rehab Experience (Completed & Exited)*

	Rehabs Completed & Exited (Rehabbed & Sold/Refinanced)
Exited in total Ever
Exited since 2011
Exited in the past 36 Months
Exited in the past 24 Months

Does the borrower (or borrowers) have any previous Ground Up Construction Experience?*

YesNo

Construction Experience (Completed & Exited)*

	New Construction Projects Completed & Exited (Built and Sold/Refinanced)
Completed in total Ever
Completed since 2011
Completed in the past 36 Months
Completed in the past 24 Months

Property (Lot) Address*

Street Address

Street Address Line 2

CityState

Zip Code

Property Type being built*

Will the home be affixed to a permanent foundation?*

YesNoOther

Since you selected "Other", please describe in detail regarding the properties foundation.*

Single Family Home Info*

	Home Info
# Bedrooms
# Bathrooms
Square Feet

2-Unit Information*

	# Bedrooms	# Bathrooms	Unit SF
Unit 1
Unit 2

3-Unit Information*

	# Bedrooms	# Bathrooms	Unit SF
Unit 1
Unit 2
Unit 3

4-Unit Information*

	# Bedrooms	# Bathrooms	Unit SF
Unit 1
Unit 2
Unit 3
Unit 4

5+ Multifamily Information*

	End Product Info
# of Units
Total Square Feet

Mixed Use Property Info*

	Info
# of Residential Units
# of Commercial Units
Residential SF
Commercial SF

Property's current zoning?*

Is the property correctly zoned for the intended project?*

YesNo

Property's total acreage*

Monthly Property Taxes*

Monthly Property Insurance Cost*

Is there/will there be an HOA where this property is located?*

YesNo

Monthly HOA Fee*

How will the Borrower(s) intend to Occupy or Utilize the property once built?*

Non-Owner Occupied Investment PurposeOwner-Occupied for Business PurposeOwner-Occupied for any of the Borrower's Residence

(!) We cannot offer financing for Owner Occupied Residential Properties where the borrower intends to live in any of the units. That said, we have a partnership with a very reputable National Residential Mortgage Brokerage who may be able to assist you. Would you like a referral?*

Yes, Please send me a referral for an Owner Occupied residential loanNo, but thank you for the offer.

What % of the property's SF will the Borrower(s) occupy for Business Purpose? *

1% - 100%

Loan Program Type

Transaction Type*

Realistically, when do you need to close by?*

Since your on a time crunch, what is the Exact Date that you need to close by at the very latest?*

Date

We'll do our best to meet your deadline, but if absolutely necessary, are you able to obtain an extension?*

YesNo

What personal name or entity name is the property currently titled in?*

Are the buyer and seller related by blood or marriage on this transaction?*

YesNo

Please explain the relationship & situation.*

Is the borrower currently in a Purchase & Sales Agreement*

YesNo

When does your Purchase & Sales Contract expire?*

Date

Was the Purchase & Sales Contract entered into an "All Cash" Agreement or "Mortgaged"?*

All Cash (No Mortgage)Mortgaged

Is the borrower buying this property from a Wholesaler?*

YesNo

Please note** We will also need copies of both Purchase & Sales Contracts between both: 1. The Wholesaler and Seller (A-B) & 2. The Borrower and the Wholesaler (B-C)*

I understand and can provide both Purchase and Sales Contracts.I cannot provide both Purchase and Sales Contracts.

Purchase Price*

Please list full $ amount and avoid any abbreviations

Original Purchase Price*

Please list full $ amount and avoid any abbreviations

Original Down Payment when acquired*

Please list full $ amount and avoid any abbreviations

Estimated As is Value Today*

Please list full $ amount and avoid any abbreviations

Date you initially acquired the property?*

This is the date of closing on your initial settlement statement.

Total amount of Liens/Debt owed on property*

Please list full $ amount and avoid any abbreviations

Construction Budget Cost*

Please list full $ amount. This number MUST be accurate and be the final construction cost.

Value of property once built*

Please list full $ amount and avoid any abbreviations

Desired Loan amount*

Please list full $ amount and avoid any abbreviations

Desired LTV*

10-100%

Do you have local government approved architectural plans and permits on the land?*

YesNo

Please upload the completed plans.

Since you selected Refinance "+ Cash Out", please describe how the borrower intends to utilize the cash out proceeds from this transaction.*

Have any improvements been made to the property since the borrower acquired it?*

YesNo

Amount spent on construction so far that includes horizontal & vertical costs to date*

Please list full $ amount and avoid any abbreviations

Please describe the improvements that have been done to the property*

Borrower(s) total cash/liquidity that can be shown via Bank Statements*

Please list full $ amount and avoid any abbreviations

Borrower(s) total liquidity that can be dedicated to this transaction*

Please list full $ amount and avoid any abbreviations

Has the borrower put any Earnest Money Down (EMD) on the subject property?*

YesNo

EMD Amount*

Please list full $ amount and avoid any abbreviations

# of months it will take to fully build this project*

Borrower's Exit Strategy*

Sell (Flip)Refinance (Hold)

# of months you anticipate it will take to sell once built*

# of months you anticipate it will take to stabilize & rent once built*

Rates & Terms the borrower is expecting*

Please describe what your expectations are for this loan

Is the Borrower already working with another broker or lender?*

YesNo

Which brokers/lenders are you already working with on this transaction?*

This may help us avoid any lenders you've already potentially received quotes from

What's special about your deal?

Please verify that you are human*

Submission Time & Date

Date

Hour MinutesAM/PM Option

Your application will be received at

GROUND UP CONSTRUCTION LOAN APPLICATION

BORROWER INFO

PROPERTY INFORMATION

LOAN REQUEST INFORMATION