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Loan Document Checklist

 A smooth loan process begins with getting prepared by gathering necessary loan documents

Commercial: Purchase and Refinance Checklist – Full Doc Review ( Lower Rates & Longer Terms)

Stage 1:  Soft quote:

  • Deal summary – Please attach executive summary and any documents related to the project.

  •  Property Address

  • Credit score

  • Value, balance due & loan request

Stage 2 Formal LOI:

       – Complete application

       –  Personal Financial Statements

       –  TRI/ Merge Credit report

        –   Purchase contract or Lease Agreement with Potential Tenant

For tenant Occupied:

    – Rent roll

    –  Last 2 years & YTD P&L

For Owner Occupied:

     – Last 3 years personal and business tax returns

     – OR 12 months business bank statements in lieu of all tax returns


Stage 3 Prior to Underwriting (slight variation by file):


-Provide current Rent Roll in the form provided

-To validate identity and country of residency, please provide any of the following documentation:

            * US Passport or Passport Card

            * Permanent Resident Card or Alien Registration Receipt Card

            * Copy of Driver’s License ALONG with Birth Certificate or Voter Registration or Social Security Card.

-3 Months Bank Statement evidencing, rental receipts from the tenants in the subject property. Must be dated within the last 90 days. Borrower to indicate in Bank statements which are the rental deposits. All large deposits subject to additional review. (Additional evidence of liquidity may be requested to meet the minimum reserve requirements – 6 month PITI).

-Proof of Property, Liability, and any other insurance for the subject property. Annual insurance premium to be included with proof of insurance. (Lender will provide the Insurance requirements checklist to be completed).

-A copy of voided check, in order to complete ACH form which is required at closing. Check must be from borrowing entity

– Provide an existing Survey. If a current survey is unavailable, a new Survey will be required.

  • Entity LLC / Corp Documents

-Articles of Incorporation/Organization or Certificate of Incorporation from the Secretary of State.

-Bylaws with stock certificates OR Operating Agreement and the most recent schedule G or K1 from 1120/1065 Tax Returns.

-Certificate of Good Standing that validates the current legal standing of the borrowing entity. Online print out from the secretary of state of state website maybe applicable.

-Foreign Qualification or Authorization to conduct business certificate if the subject property is located in state outside of the borrowing entity. (If applicable)

-Tax ID Number


Commercial: Purchase and Refinance Checklist – Low Doc Review ( Faster Closing & Shorter Terms)

1. Completed Loan Application

2. Personal Financial Statement

3. Investor Experience & Portfolio or Resume

4. Bank Statements – 2 months most recent (all pages with name & account # visible)  – No Tax Returns Required

5. Credit Report (from atleast two bureaus)

6. Copy of Photo ID

7. LLC / Corporation Documentation (if holding title in entity) a. Articles of Organization / Incorporation b. Operating Agreement / Bylaws

8. Specific Transaction Documents a. If purchase transaction – fully executed, valid purchase contract b. If refinance transaction – payoff demand or mortgage statement