What it is
A loan package is everything a lender needs to decide whether to quote a deal. It usually combines a narrative document, often a financing memorandum or offering memorandum, with the supporting financial files. A good package lets a lender's analyst understand the deal and test the numbers without sending a list of questions back.
What goes in it
The exact contents depend on the deal, but most packages include:
Summary
- Loan request: amount, purpose, loan type, preferred term and structure
- Sources and uses of funds
- Key metrics: LTV or LTC, DSCR, debt yield
Property
- Description, photos, site plan and location
- Market overview and comparable rents and sales
- Physical condition and any capital plan
Financials
- T-12 and prior years' operating statements
- Current rent roll
- Underwritten NOI and a pro forma where relevant
Sponsor
- Bio and track record of the sponsor
- Real estate schedule of owned properties
- Personal financial statement, liquidity and net worth
Third-party and legal (as available)
- Appraisal, environmental report, property condition report
- Purchase contract on an acquisition
- Budget, plans and contractor bid on construction
How lenders read it
An originator usually decides in a few minutes whether a deal is worth a closer look. That decision rests on the first page or two: the request, the metrics and the sponsor. If the summary is clear and the numbers hold up when the analyst opens the T-12, the deal moves forward. If the deck says one NOI and the spreadsheet says another, it often doesn't.
Common mistakes
- Inconsistent numbers. The memo, the deck and the model each show a slightly different NOI because they were updated separately.
- Burying the request. The lender should know the loan amount and purpose on page one.
- Missing sponsor information. A strong property with an unknown sponsor stalls.
- Sending to lenders outside the box. A perfect package sent to the wrong lender is still a no.
How it gets built
Many brokers spend days per deal re-keying data and rebuilding slides. Dori generates a branded PPTX and a DOCX investment memo from one extracted record, so the numbers agree across every document. See loan packages, and for the full checklist, read how to package a commercial real estate loan.