The preliminary review
How the firm examines the transaction before shaping the engagement.

Test a financing scenario, prepare your project file and understand the terms behind the numbers. Calculators, document templates and practical guides in one place.

Debt sizing, DSCR, debt yield, cap rate and development yield in one connected tool.
Explore 02 / CompareThe proceeds, obligations and conditions behind a financing offer.
Explore 03 / PrepareA practical checklist for introducing the property and capital request.
Explore 04 / UnderstandA clear reference for the language of the financing conversation.
ExploreThe approved thirteen-page introduction to the firm, its capital coverage, review process, service lines and people.
Explore selected pages below, or download the complete overview.
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A proper introduction, ready to hand.
How the firm examines the transaction before shaping the engagement.
Feasibility, comparable analysis and underwriting support, with scope and deliverables explained.
Actual document and worksheet excerpts, with the original blank workbooks available below. Click a preview to enlarge it; use Actual size for a closer read.
Sponsorship, transaction-lifecycle and asset-class document requests.
Download workbookPersonal financial statement, real estate owned and track record.
Download workbookUnit-level tenancy, rent, lease dates and occupancy summary.
Download workbookMonthly income and expenses with calculated annual totals and NOI.
Download workbookProject costs, capital contributions and a funding reconciliation.
Download workbookYour entries stay in this browser tab and are not sent to the firm. Reloading clears them. Saving a baseline does not save a file.
Fixed rate, monthly payments, fully drawn principal. Fees, changing draws, balloon payments and subordinate debt are excluded.
Yield on cost uses stabilized NOI. Implied value assumes a stabilized income stream. Value less cost is not profit or an equity return; sale costs, taxes and timing are not modeled. Remaining capital equals cost less the selected loan and other equity contributions, floored at zero.
DSCR = selected annual NOI ÷ annual debt service. Debt yield = selected annual NOI ÷ proposed loan. Cap rate = selected annual NOI ÷ property value.
LTV ceiling = value × maximum LTV. LTC ceiling = cost × maximum LTC. Debt-yield ceiling = nonnegative selected NOI ÷ target debt yield. DSCR ceiling = nonnegative selected NOI ÷ target DSCR ÷ annual debt-service constant.
For amortizing payments, the monthly payment per dollar is r ÷ [1 − (1 + r)−n], where r is the annual rate divided by 12 and n is amortization years × 12. At a zero rate, the monthly payment is principal ÷ n. Interest-only annual debt service is principal × annual rate.
Yield on cost = stabilized NOI ÷ total cost. Stabilized implied value = stabilized NOI ÷ exit cap rate. A nonpositive NOI does not support a meaningful direct-capitalization valuation here.
Educational calculations, not an appraisal, financing quote or credit decision. Lenders may use different income definitions, stress rates, reserves and additional constraints. Results do not establish available proceeds.
Definitions reference: OCC Commercial Real Estate Lending handbook, printed page 43.
Your model starts the discussion. The property, sponsor and execution path complete it.
Discuss the capital plan