Provide V2 TEST – Sigma Chi

Or

Financing

CHI provides financing for:

Property Acquisition, Remodeling and Life Safety Projects

Student Housing has become big business. Not only are today’s students more demanding of a quality living environment, but both universities and private developers are spending tremendous amounts of money to attract the growing student populations.

Now, it's more important than ever that the necessary talents and investments are focused on our chapters and their living environments. The fundamental breakdown facing many fraternity house corporations is the inability to fund the necessary ongoing maintenance and capital improvements to the facility. This creates a damaging spiral where maintenance is deferred, major expenses delayed, and the chapter house erodes into a living environment that pales in comparison to the competition.

Loan Application

Loans may be for the purpose of purchasing, constructing, renovating, rehabilitating, or refinancing. Commitments may be made for the guaranty of real estate loans made by other parties. Said loans or guarantees will be secured primarily by a first or second lien on real property used or intended to be used for the lodging or housing of Sigma Chi members.

The primary consideration in extending credit is the credit worthiness of the applicant. Acceptable debt service coverage and adequate cash flow are important elements of the credit decision. CHI will utilize underwriting standards and documentation procedures that are generally followed by regulated commercial financial institutions. Applications must be submitted in complete form and in accordance with the application guidelines supplied by CHI

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Step 1 of 8

CHI Loan Application

Date

Chapter

Borrower/Guarantor Information

House Corporation Legal Name: *

If D/B/A, list other name(s):

FEIN/Tax ID: *

Date Incorporated

Applicant Address

Mailing Address Street/PO Box: *

Street Address Line 1

City

State

Zip Code

Physical Address *

Street Address Line 1

City

State

Zip Code

Academic Institution

Institution Name

City / State

Chapter Information

Greek-letter Name *

Date Established

REQUIRED EXHIBITS, to be attached and submitted with the APPLICATION as applicable:

Borrower Profile (Submit for ALL loan applications)

EXHIBIT A: Provide a current balance sheet/ income statement, operating budget, and copies of tax returns for the House Corporation for the past three years, including IRS Form 990. Also include a copy of your IRS letter verifying your tax-exempt status, if possible.

Property Profile (Submit for ALL loan applications)

EXHIBIT B: Provide a general description of the location of the subject property including its proximity to the school's campus, other Greek housing, and to commercial areas. A map should be included if possible.

Design/Construction Documents (Submit only if New Construction or Renovation)

EXHIBIT C: Provide a complete set of preliminary plans and specifications and a current photograph of the existing property. The plans should include floor plans as well as interior and exterior elevations.

Building Profile (Submit only if Renovation or Addition)

EXHIBIT D: Summarize the condition of your current property, including number of bedrooms, bed count, dining capacity, age of subject, etc

Financial Cost Breakdown (Submit for New Construction/Renovations/Additions)

EXHIBIT E: Provide a detailed cost breakdown of the proposed improvements. Be certain to include the cost of all architect and engineering fees and permits, processing fees, loan fees, etc. Also include the cost of any land to be purchased. Provide a schedule of the cost of any proposed furnishings.

Outstanding Loans (Submit for ALL loan applications)

EXHIBIT F: Describe any current loans on the property. Give the lender's name, the balance, the collateral, the rate, the amount of the payment, and the final payment date. Indicate any unusual provision regarding the loans.

Sources and Application of Funds (Submit for ALL loan applications)

EXHIBIT G.1: Provide a 5-year proforma detailing all expenses and income for the current and following years.
EXHIBIT G.2: Describe any/all sources of funds to be applied to down payments, closing costs, fees and escrows. Include funds held on deposit (indicate if checking and/or savings, and names of institutions), personal loans and gifts, grants, and donations.
EXHIBIT G.3: List and describe any additional collateral to be promised as security for the loan, including certified values, and listing names of owners of all properties; proof of ownership will be required.
EXHIBIT G.4: Describe the sources and amounts of money you intend to borrow, from ALL SOURCES. Include any preexisting loans or liens that will remain on the property. Give the lender's name, the balance, the collateral, the rate, the amount of the payment, and the final payment date. Indicate any unusual provision regarding these sources.

LOAN DISCLAIMER

CONSTANTINE HOUSING INITIATIVE (CHI) strives for compliance with applicable state and federal regulations pertaining to mortgage lending,advertising, and marketing including all regulations set forth in title 12 of the Code of Federal Regulations, and guidelines promulgated and/or enforced by the U.S. Department of Housing and Urban Development, The Consumer Financial Protection Bureau, and the Federal Trade Commission.
CONSTANTINE HOUSING INITIATIVE is not affiliated with any government agency. All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend. Not all applicants will qualify for all loan products. All loan programs, terms and interest rates are subject to change without notice. All fees are subject to state and federal high-cost thresholds. Other restrictions and limitations may apply

APPROVALS AND CERTIFICATION

The undersigned officers of the House Corporation/Borrower certify the following: 1. The application is being submitted under their proper authority. 2. To their best knowledge this application, supporting documents, and all exhibits submitted are complete and accurate. 3. The undersigned have no, or have fully disclosed herewith any, conflicts of interest regarding the proposed project and financing.

APPLICATION APPROVALS & CERTIFICATIONS

President

Name (print): *

Phone *

Email *

Mailing Address Street/PO Box: *

Street Address Line 1

City

State

Zip Code

Date *

Vice-President

Name (print):

Phone

Email

Mailing Address Street/PO Box:

Street Address Line 1

City

State

Zip Code

Date

Secretary / Treasurer:

Name (print):

Phone

Email

Mailing Address Street/PO Box:

Street Address Line 1

City

State

Zip Code

Date

CHI

Or

Financing

Loan Application

Got Questions? Reach out to us.

CHI Loan Application

Borrower/Guarantor Information

Applicant Address

Academic Institution

Chapter Information

Officers & Representatives – Contact Information

House Corporation President

House Corporation Treasurer

Current Chapter Consul

Institution/School Representative

LOAN REQUEST INFORMATION

General Notes

Additional Loan Details

For Purchases

For Refinances

For New Construction/Renovations/Additions

FOR ALL LOAN REQUESTS, Answer the Following:

REQUIRED EXHIBITS, to be attached and submitted with the APPLICATION as applicable:

INSURANCE PROVIDER(S) and COVERAGES (complete if other than RMF, or for secondary/excess coverage provider)

Carrier

COVERAGES

Fire/Hazard, Real Property

Fire/Hazard, Personal Property

Tornado / Flood / Hurricane

Earthquake

Boiler / Mechanical Breakdown

Liability

Other (specify coverage):

LOAN DISCLAIMER

APPROVALS AND CERTIFICATION

APPLICATION APPROVALS & CERTIFICATIONS

President

Vice-President

Secretary / Treasurer:

Confirmation Page

Please enter your information below, as well as that of anyone else you would like to receive a copy of your completed application.

Other Recipients

SIGMA CHI

P.O. Box 13421, Pensacola, FL 32591 (847) 869-3655 info@constantinehousing.org

Quick Links

Sigma Chi

SIGMA CHI

P.O. Box 13421, Pensacola, FL 32591 (847) 869-3655 info@constantinehousing.org

Quick Links

Sigma Chi

© 2020, Sigma Chi Fraternity

Got Questions?
Reach out to us.

P.O. Box 13421, Pensacola, FL 32591
(847) 869-3655

info@constantinehousing.org

P.O. Box 13421, Pensacola, FL 32591
(847) 869-3655

info@constantinehousing.org