Copy of the Purchase and Sale Agreement (if applicable)
For a Refinance, a copy of the Deed and most recent tax bill
Last 2 years Property Income and Expense Statement
Current Rent Roll/Lease summary and copies of rental agreements
Copy of Insurance Declaration page
Current pictures of the subject property
Copy of recent appraisal (if available)
Copy of Phase 1 environmental (if available)
Credit Requirements:
Fully completed commercial loan application
Fully completed personal financial statement for all owners of at least 10%
Fully completed schedule of real estate owned for all borrowers – include monthly income & expense
Last 2 years W2 statements for each borrower
Last 2 years signed personal tax returns including all schedules
Most recent 3 months bank statements and other liquid asset statements
Letter of explanation for any credit issues
If self-employed, last 2 years business tax returns and year to date Profit & Loss and Balance Sheet
Copy of Borrowing Entity’s corporate docs (including but not limited to: Articles, Operating Agreement, By-Laws, Cert of Good Standing, names and addresses of all members with % of ownership, Business Cert., Resolution of board regarding signatory and authorization of transaction)