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We work with lenders all over the United States and provide lenders with an analysis of what the house corporation can afford based on local lender’s credit underwriting guidelines.  Beyond sourcing financing for the acquisition, acquisition-rehab or new construction for your sorority house, RCC also provides the following services:

  • Available to discuss ANY financing plans with the house corporation to help them map the path to success

  • Prepare pro formas based on current financials and budget so that the house corporation knows what it can finance now; AND a guestimate of what the house corp can afford if renovations will not start within the next interest-only period

  • Coordinates with the house corporation and, if necessary, the local property manager to make sure any renovations minimize chapter house occupancy disruption.  (Some renovations can be scheduled and loan funds disbursed over winter and spring breaks.)

  • Provide an analysis of the loan products and terms offered to the house corporation so that the house corporation selects the best loan for their situation

  • Recommend to the house corporation and/or national housing entity loan terms that might be amenable to the lender with a focus on the house corporation’s financial viability; and, keeping annual housing fees charged to the chapter competitive

  • Coordinating with the local lender selected by the house corporation loan closing activities; including the Board Resolutions, adequacy of Bylaws and addressing any title issues uncovered that impact timely closing

  • Initial review of loan documents to identify any covenants, etc that would be objectionable to the house corporation before local counsel spends time and money reviewing loan documents

  • After the loan closes, we continue to be available to the house corporation should additional funds be necessary or any post-closing issues arise from the lender, such as change orders

  • We will work with architects, lender, borrower’s counsel, title company, lender’s counsel throughout the closing process to clear any items on the Closing Checklist

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