Appendix ID: private-mortgage-exit-planning
Mortgage terms
| Item | Entry |
|---|---|
| Gross mortgage | |
| Net proceeds | |
| Position | |
| Rate/APR | |
| Lender fee | |
| Brokerage fee | |
| Legal/appraisal costs | |
| Payment | |
| Maturity date | |
| Renewal terms known? | |
| Current total LTV |
Problem being solved
- Exact institutional decline or timing problem: __________________________
- Is it temporary? Yes / No / Uncertain
- What evidence proves it is temporary? __________________________________
- Consequence if financing is not obtained: _______________________________
- Alternatives considered: _______________________________________________
Primary exit
| Exit requirement | Current position | Required target | Evidence | Deadline |
|---|---|---|---|---|
| Qualifying income | ||||
| Credit score/history | ||||
| Debts/utilization | ||||
| Property value/condition | ||||
| LTV | ||||
| Employment/business history | ||||
| Construction/stabilization | ||||
| Target lender/program |
Monthly action calendar
| Month | Required action | Owner | Evidence completed | Review outcome |
|---|---|---|---|---|
| 1 | ☐ | |||
| 2 | ☐ | |||
| 3 | ☐ | |||
| 4 | ☐ | |||
| 5 | ☐ | |||
| 6 | ☐ | |||
| 7 | ☐ | |||
| 8 | ☐ | |||
| 9 | ☐ | |||
| 10 | ☐ | |||
| 11 | ☐ | |||
| 12 | ☐ |
Contingency exit
- Contingency event: _____________________________________________________
- Trigger date for switching to contingency: ______________________________
- Expected net sale/refinance proceeds: __________________________________
- Required price reduction or additional equity: __________________________
- Lawyer/realtor/accountant involved: ____________________________________
- Maximum acceptable extension cost: ____________________________________
- Decision if lender will not renew: _____________________________________
Exit stress test
- [ ] Property value falls 10%
- [ ] Institutional rate rises 2%
- [ ] Income documentation takes six months longer
- [ ] Credit target is not reached
- [ ] Construction costs rise 10%
- [ ] Sale takes 120 days longer
- [ ] Private lender declines renewal
- [ ] Legal costs increase
Does an exit remain? __________________________________________________
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Continue with the complete guide
The Complete Guide to Private Mortgage Exit Strategies — Turn the worksheet into a governed refinance, construction, sale or maturity project with objective triggers.