Commercial Loan Documentation Checklist (DOC)

Document Sample
Commercial Loan Documentation Checklist (DOC) Powered By Docstoc
					         Commercial Loan Documentation Checklist

The following is a list of the documentation required to underwrite a
loan. More information may be needed on a case-by-case basis. The
more information supplied, the more complete the evaluation the faster
the closing. A signed “ Fee Agreement” must also be submitted, If not
previously sent in.

Need        Submitted
_____       __________ 1. Status of Borrowing Entity ( corporation, Partnership, etc.
_____       __________ 2. Copy of Articles of Incorporation, partnership etc.
_____       __________ 3. History of borrowing entity and management background
_____       __________ 4. Three years financial statements for borrowing entity
_____       __________ 5. Current Financial Statement of each principal
_____       __________ 6. Three years federal tax returns for entity and principals
_____       __________ 7. Resume’ of principals, developer and contractor
_____       __________ 8. Appraisal – MAI type
_____       __________ 9. Plot Plan and Legal Description if not in the Appraisal
_____       __________ 10. Comparable rent and occupancies rates, Market Analysis
_____       __________ 11. Cost breakdown if new construction or renovation
_____       __________ 12. If construction Contractor bids and land cost
_____       __________ 13. Map of the region, district and neighborhood
_____       __________ 14. Photos of building and land if not in the Appraisal
_____       __________ 15. Rent roll showing income from all sources
_____       __________ 16. Projected income and expenses for 5 years
_____       __________ 17. Present financing ,if any
_____       __________ 18. Explain availability of parking, elevator etc.
_____       __________ 19. Purchase contract and letters of intent to lease
_____       __________ 20. Money invested to date, detailed and verified

There may be additional data as required by the investor. The speed of the closing
Closely correlates with the completeness of the loan package and the cooperation of
the various vendors involved in the loan project.

Fax To: 812-637-8999

Shared By:
Lingjuan Ma Lingjuan Ma