Loan Check List
General Information: Other documentation could be ask for.

Basic Checklist

+ Commercial Loan Checklist

(Note below list is for a full doc loan for a Stated loan exclude tax returns) 

• Summary Letter to include (loan request,interest rate request,term etc.)
• Rent Roll
• Financial Statement or 1003 Loan Application
• Last 2 year Tax Returns (Business & Personal)
• Property Description (size,location,age,# of units etc.)
• 2 Year Income & Expense Statement
• Photo's of property
• Purchase Contract (if a purchase)
• Credit Report
• Copy of Partnership Agreement (if a partnership)
• Construction Cost Beak Down (if a construction loan)
• Current Profit & Loss (if self employed)
• Escrow Instructions & Preliminary Title Report (if available)

 

+ Construction Loan Checklist

Typical Documentation for consideration. Some or all may be ask for. Be prepared!

• 1003 Loan Application
• Personal Financial Statement
• Entity Documents (LLC, Corp etc.)
• Two years Federal Income Tax Returns
• Copy of three most recent Bank Statement
• Escrow Instructions(if applicable)
• Title Insurance Policy (if available)
• Copy of Land Acquisition Settlement Statement (if available)
• Copy of the monthly Mortgage Statement
• Copy of Soils Report
• Environmental Questionnaire & Disclosure Statement
• Copy of the Building Plans
• Copy of the Construction Cost Breakdown
• Copy of Construction Contract
• Copy of Contractor's Resume & Qualification

 

+ All other financing

Basic information for review

1003 Application (Residential)

Executive Summary of the project

Business Plan

Purpose of loan and exit strategy information