MULTI-FAMILY UNDERWRITING TEMPLATE
SUMMARY PAGE
PROJECT NAME	Sampletown Apts.
BORROWING ENTITY:	Reliable Borrower LLC
PROJECT STREET ADDRESS:	100 Alpha Street
CITY	Beta
STATE:	California
ZIP:	12345
UNDERWRITTEN BY:	Ernest Goodnumbers
TOTAL UNITS (per Rent Roll):	240	units
LAND AREA	14.0	acres
DENSITY	17.1	units/acre
PARKING	280	spaces
PARKING RATIO:	1.2	per unit
UNDERWRITING RESULTS (from Cash Flow worksheet):
LOAN AMOUNT:	$                                       10,000,000
LOAN / UNIT	$                                                41,667
TERM	10.0	years
AMORT. PERIOD	30.0	years
SPREAD	1.85%
INTEREST RATE	7.90%
COVERAGE RATIO	1.27
APPRAISED VALUE	$                                          12,100,000
(from Appraisal Review)
APPRAISED VALUE / UNIT	$                                                50,417	/ unit
LOAN-TO-VALUE	82.6%