Loan Application Check List


Application# :
Loan# :

Items Required for Underwriting:

Quick Loan Submission form
Loan Application form
Executive Summary form
Borrower’s resume
Borrower’s current financial statement (signed & dated within 30 days)
Signed tax returns for 2 most recent years (Individual and Corporate, if applicable)
Signed copy of Borrower’s Authorization/Certification form
High Resolution Color Photos – (four sides exterior including parking and interior showing typical condition of space)
Borrowers credit report (within 30 days of loan submission)
Survey and legal description of subject property
Rent roll form and copies of all rental/lease agreements
YTD and prior two years operating statements for subject property
Most recent and prior year property tax statements
Copies of Mortgages, Notes and Liens
Environmental Site Checklist
Appraisal of subject property (if available)
Preliminary title report (if available)
Environmental report- (if available)

If Rehab or Construction loan include:
Plans, permits, approvals. Current status in approval process, milestone schedule for project. Please list all permits or approvals required but not yet received.
Go forward budget that includes:
  • Acquisition cost or assignment fee (if applicable)
  • Carrying cost (taxes, insurance, etc.)
  • Estimate of financing costs
  • Rehab or construction hard cost budget
  • Engineering, permits, and all other soft costs
Proforma Revenue Schedule- (expected income after repairs or development)
Construction cost breakdown- Use of construction funds
Construction costs to date- Funds invested in project to date/use
Current Lender- Contact information, debt owed
Engineering, permits and all other soft cost
Project timeline to completion

Items Required to Complete the Closing Process:
Title report, title insurance policy
Purchase and Sale agreement (if applicable)
Name and contact information for insurance agent
Appraisal report and BPO report
Completed Business Purpose of Loan Certification
Environmental report (if required)
Payoff letters from bank
Completed Estoppel Certificate from all existing tenants
Confirm that all items on this checklist have been received

If the Borrower is a Corporation/ Partnership/Trust or LLC include:
Articles of Incorporation
Copies of the Partnership/Trust agreement
Corporate Resolution authorizing the loan and the officer(s) authorized to execute the loan agreement.
LLC Certificate of organization and Operating Agreement (Resolution required)