Written by Fernando Martin| September 28, 2018
*Not all Lenders or loan programs are created equal and each program has it’s own specific guidelines. This is a general list of the items you should start to prepare although additional loan information may be requested, depending on the loan program that you select:
Owner-Occupied Properties
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3 years of federal business tax returns, including all statements (operating statements if the previous year is not yet filed or on extension)
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Year-to-date business operating statements
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Current business balance sheet, including current debt schedule
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3 years of personal tax returns (W-2 if last year is on extension)
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Personal Financial Statement
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For refinance – current loan payoff including any prepay penalty
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For purchase – executed Purchase & Sale Agreement
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Interior/Exterior photos of the property, if available
Investment Properties
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2 years of historical annual operating statements
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Year-to-date operating statement (recourse loan) or trailing 12 month operating statement, broken out by month (non-recourse loans)
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Current rent roll with square footage, move-in date, lease term, unit mix (apts/self-storage), options (retail/office/industrial), and extensions (retail/office/industrial)
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Lease, including any amendments (single-tenant only)
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Tenant sales numbers or financials, if available (single-tenant or anchor-tenant only)
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Personal Financial Statement
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For refinance – current loan payoff including any prepay penalty
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For purchase – executed Purchase & Sale Agreement
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Interior/Exterior photos of the property, if available
Not-for-Profit Borrower
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NPO mission statement and history
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Number of members
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Number of giving units/regular donors
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3 years of CPA-prepared operating statements and balance sheets
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Year-to-date operating statement
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Current balance sheet
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Leadership resumes, including time with organization
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NPO organizational chart, including key decision-makers
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Information on parent organization, if branch of regional or national organization
** Please note that this list is for stabilized properties only. For a bridge or construction financial package, please click here.
