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Esign bank loan proposal template

all right everybody this is Michael Rogers the bean counter I want to talk to you today about how to set up your own bank loan proposal there's a couple little files here if you're looking at this screen right here you've clicked on the link there's four different downloads one if you just want to get a whole PDF of what the sample looks like you can click that number download one here is the word document such as your coverage cover page table of contents and a loan request template you can use those download them and then change them up to your own need and file2 is gonna be your excel documents which includes like your financial projections your personal budget your balance sheet items and file 3 is going to be your PowerPoint document which kind of shows here are all the projects I've done in the past what you'll need to do on all the downloads files one two and three is you're gonna modify these to your own personal use the main documents gonna come to show a template but let's go ahead and start and let's assume you've downloaded the first one you can see here this is gonna pull up a full PDF you can't change the PDF because it's a PDF but if we can kind of go through you can see there's a table of contents kind of tells you everything's gonna be the package page one's gonna say hey here's a lot of information about the property a little bit of information about who you are page three is going to talk about the project itself the cash flow of it what you're buying it for well how much you want to finance this next page right here is page I guess it's page five it's going to talk to you about your financial position this is your balance sheet and any balance sheets got you know it kind of shows it points in time you know every three months you can see here's what your checking account balance was your savings account balance that sums up to all your total assets you get your long-term assets such as any houses you have any cars you have and that gives you total assets when you sum up to your long-term assets and your current assets and then you've got your liabilities you know what a current and long-term currents gonna be credit cards lots of credit anything that's really due within the next year and then you got your long term loans these are things that are due in full after a year such as student loans car loans mortgages on your properties and that gives you your total long term loans but if you your net worth as anybody knows is basically you take all your assets - all your liabilities gets what your so in this case you were two hundred three thousand dollars again you'll need to update that based on your own information but the bank wants to see that they want to know what that is your personal monthly basis budget this is what you make each month so you know here's your what you make Netta taxes any income you make from your properties and expenses you know cash that's going out and that's kind of shows what your revenues ever expenses are for the month bank wants to know that they want how much cash flow generating each month so that you can pay them back they borrow let you borrow property the next one is here's just a kind of a good simple document that Bank likes they can see here what all your properties are they can see this is what you own those properties this is what you've got in on the estimated cost this is what the appraisal is if you've got any kind of appraisals and then this kind of shows what your monthly payments are this just gives them some really good information who's the lender what's the location what are the balances how much you got in it and how much does it work a lot of times what they'll be looking at is they'll look at hey what's this appraised value on this property and maybe you only owe you know $50,000 on it and it's worth 150 well then you know they can use that as collateral on another loan so it's just kind of a good piece of information to give them and then this if you've got any projects you've done in the past pictures and visuals and Venom will show people what you've done really really does a lot so I've just done this one you know this is a property I did a renovation on and it kind of shows you here's the before a few pictures of it here's the actor gives the address what it is what I'm getting a month and I think people been able to see that gosh you came in there is a total mess and you finished it up it looks great that kind of shows you miu got track record banks and anybody lending you money wants to see that you've got a tracker if you can show them that you know any kind of project you've done here's another one bought it and fixed it up so this kind of gives you a kind of a quick overview so we'll go back and download file one of three you can see right here it's gonna download you just click on this open it up and enable editing so you can see this you can update this is just a Word document it's that same stuff just go in there these things got Bracketron you need to update or prepare by put your name your phone number email they prepared it you may need to update the table of contents if you've got more photos or properties then I showed or if you want to remove something or add something these things I've got in here are pretty basic I'll include them again I would update the name address city state phone email just information for them to get ahold of you what are you asking for the long request this is the first thing you need to be able when you go into the bank you need to be able to use that bankers time and not waste it they need to be able to come up and pull the page and say one page what is this person wanting for me can I help them so you're going in and saying hey I'm requesting $80,000 to buy this house purchase price is 100 it's got an appraisal 150 I think it's gonna cost me 10 grand to put in there so that kind of tells them here's what it is here's how much they want from me here's what it's worth and that and that that very quickly lets them know if they can do any business with you you can kind of give them the addresses again you got it down here if you know long terms you got loan-to-value loan-to-value is simply hey here's what this property's worth and here's how much you're gonna borrow it so you can see eighty thousand divided by a hundred and fifty thousand is fifty three percent typically banks are gonna want to see something less than 80 percent that's safer for them and then you got loan-to-value on a cost approach you can see what you got there amortization period that's how many years that the things gonna be as if you paid it off over that term so you're gonna pay it each month is if you're gonna pay that thing off over 15 years the long term is after three years that loan is done most time the bank is going to renew that loan with you but after three years you're gonna reset that loan you're gonna go I can reapply but where you see long terms in the amortization period not matching up is when you're doing portfolio loans of the bank so when you go into a bank and that banks actually gonna hold that loan you're not gonna find hardly any banks that are gonna agree to a loan term longer than three to five years they don't want to do it from interest rate risk they don't want to take a chance that they lock you in at 5% and ten years down the road interest rates or ten percent and they and they're they're subject to not being able to be competitive so that's what you're gonna lay that out if you do a secondary market loan like most people have on their houses they will match up this 15 years in the 15 years will match up the downside of that is when you're getting those secondary market loans they are much more difficult to get in the sense that there's a lot more got to check the box you got to have all these things and in certain order and if there's any kind of kind of funky about it they did the banks just don't have as much flexibility to work with you so most the time real estate investors are dealing with portfolio loans and that's how that works interest rate monthly payment if you got what your primary job is what you do they talked about your investments what your goals get a little professional background that'll make them feel a little better and then the second one here go through it you got an Excel document let's open it up all right so I've got these number two three four five scan keep up with it this is just the financial projections just use this update it again we talked about all these numbers are your budget if you've got a personal budget just put something together you know you can update these numbers you can go in there edit them and print them out balance sheet this is something I recommend I've got another post and here that talked about how to prepare a balance sheet but this is something if you're somebody it's gonna be doing rental property you're gonna be doing real estate or you care about your net worth every time track this this this is great you can go in and see over time how you're doing how you're growing so so be sure and keep on these and then the property owned sheet so that's our those we went over those in the other PDF and then the final one this is just a PowerPoint document that you can use to show your own pictures and tell your own story I think most people know how to use PowerPoint but you can kind of substitute your pictures in here so you know if you want to get rid of that picture you can just click on it so if you want to get rid of that just cut it insert another picture yeah go out and find your picture insert it your show my daughter when she was really young you just take that you need to make it out a little smaller stick it right there and you've got all these different borders you can put around it but you can play with it and get just the way you want to get it and that kind of shows you everything you need to know so hopefully that'll help you if you got any questions feel free to post a question on the blog or you know most poorly sign up for our newsletter as we send out new new information new blogs new podcast will notify you about them and you know if this has been helpful to you share it share it you know sticking on Facebook Twitter information that helps us do better and in that way we can continue to put out good information that'll help you with your business thanks so much