Loan Request Package / Commercial Bank Underwriting Guidelines

[Christian D.]

I am looking to cash-out refinance a 5-unit apartment complex that I bought back in 2016. I am in discussions with the current bank that holds the mortgage, and I am trying to put together a LRP (loan request package) to send them justifying the new requested loan amount.

Does anyone on the commercial lending/underwriting side have a template or financial model they use and can send me? It would also be helpful if you could share some of the underwriting criteria/guidelines you are subject to abide to. I know every bank is different, but it would be helpful to see where some of your numbers come in around -- I am curious what your percentages are pertaining to vacancy, property management, reserves etc.

I am going with 5% vacancy, 5% PM, and 200/unit for reserves. The property is currently 100% occupied but I know the lender is going to factor in a vacancy regardless.