Prepare a concise project summary
Begin with a one-page description covering location, business purpose, planned use, unit count, development stage, budget, loan request, equity and intended repayment. Add the schedule you are working toward and the decisions still outstanding. Someone unfamiliar with the site should be able to understand what must happen next.
The checklist below organizes preparation suggestions, not universal lender requirements. Mark an item only when you have reviewed the underlying material. A full checklist does not verify its accuracy or establish eligibility. Your selections remain in the current page and can be printed with the guide; refreshing the page clears them.
Organize evidence around the decision
For the site, assemble the address, ownership or purchase agreement and the status of zoning, access and utilities. For the build, gather the latest plans, permit status, contractor proposal, line-item budget and schedule. For the sponsor, prepare an ownership chart, relevant project history and evidence of the proposed equity source. Keep sensitive personal and account documents for a secure channel designated by the recipient.
For repayment, bring the rental assumptions and comparable evidence or the unit-sales plan. Include your calculator scenarios with the assumptions clearly visible. Date each document so the reviewer can distinguish the current plan from an earlier version. A simple file index is often more useful than an unstructured folder of attachments.
Questions to resolve before committing
Ask which costs and land contributions will be recognized, what is funded at closing, when equity must be contributed, and how draws are reviewed. Confirm the interest calculation, reserve treatment, fees, guarantees, insurance and maturity provisions. For unit sales, ask about partial releases. For a refinance, ask what evidence the future lender would require and when it can be produced. Record answers against the proposed documents rather than relying on a general description.
Frequently asked questions
Does matching the stated ranges mean approval?
No. The stated project types, unit counts, loan amounts and terms are only the supplied scope. They do not replace a transaction review. The hub does not provide a current rate sheet or a complete eligibility policy.
Can the entire commitment pay contractors immediately?
Do not assume it can. Ask for the proposed closing advance, draw process and any holdbacks. Map invoice timing to expected funding so a reimbursement delay does not become an unexplained cash need.
Is an extension part of the delay calculation?
No. The delay tool calculates additional interest and entered carrying costs. It does not grant an extension, model extension fees or establish that additional reserves will be funded.
A short glossary
Commitment: the total facility amount contemplated by the agreement. Advance: a funded portion of that facility. Contingency: a budget allowance for uncertain costs. LTC: loan divided by the specified project-cost denominator. LTV: loan divided by the specified property value. NOI: property operating income after operating expenses, before debt service. DSCR: NOI divided by annual debt service. Takeout: replacement financing used to repay existing debt. Release payment: the required payment associated with releasing specified collateral, as governed by the loan documents.