Commercial Loan Application, Submission form for Commercial Loan and Instructions

COMPANY NAME Commercial Financing Experts Nationwide Commercial Loan Submission Form *MUST BE COMPLETELY FILLED OUT FOR A SPEEDY AND SUCCESSFUL PROCESS Submission Date: _______________ Broker Office: _____________________________________ Email: ____________________________________________ LO: ________________________________ Phone: _________________________________ Fax: _______________________________Cell Phone: ______________________________ Borrower: ________________________________FICO: ____/ ___/____ Co Borrower: _____________________________________________________FICO: ______/______/______ PROPERTY TYPE (CIRCLE ALL THAT APPLY) Multifamily Office Condo Day Care Mixed Use Retail Center Warehouse Self Storage Office Bldg Bed & Breakfast Dry Cleaners Automotive Motel: Flag or No Flag Hotel: Flag or No Flag Restaurant/Bar Funeral Home Storage Car Wash Light Industrial Strip Mall Mobile Home Park: > 25 % RV or < 25 % RV If OTHER Describe: ________________________________________________________________________________ SUBJECT PROPERTY INFORMATION Address: _______________________________________________________________________ City: ___________________ State: ____ Zip: ___________ Tot # of Units __________ # of Buildings: ________ Occupancy %: _____ Owner Occupancy %: ____ Bldg size: _______ Acreage: _______ DETAIL USES OF UNITS: ___________________________________ Year Built:_______ Condition of Property: Excellent Good Fair Poor If Owner occupied gross income:$______________________If investment rental income $_____________ Expenses $_________________________________ NOI $ _______________ Loan Purpose, Occupancy & Type (CIRCLE & FILL OUT ALL THAT APPLY) Purchase Refinance Rate and Term Cash-Out NO DOC Full Doc Stated Requested LTV %: ________ Requested CLTV %: ________ Source of Second: ________________________________ Broker Points:________ Requested Term: ________ Purpose of Cash Out: _______________________ If Refinance, is there a Balloon Payment Due: __________ If so, Balloon Payment Due Date: _____________________ Year acquired:___________________Original cost:________________________Estimated Value:__________________ If Purchase, Purchase Contract Closing Date: ____TBD_______ If necessary, can extension be issued: ________ Other Comments:____________________________________________________________________________________ Property Value Purchase Price or (if Refi) Existing Liens (list all) Down Payment Cash Out or Addt’l Financing / CLTV Total Loan Amount Requested $ $ $ $ $ ADDRESS CITY STATE ZIP AND OR BRANCH OFFICE GOES HERE A full underwrite, analysis and due diligence will be needed to proceed prior to loan approval and review. The use of this or any other form to make a credit decision or discourage the filing of an application is strictly prohibited. This form may be used for the limited purpose of understanding loan products available with one of our current funding sources. All credit decisions are made by underwriters and analysts in accordance with established procedures and guidelines as set by their institution(s). COMPANY NAME Commercial Financing Experts Nationwide PLEASE SUBMIT THE LOAN SUBMISSION FORM WITH THE FOLLOWING: Submission Checklist Please check off documents in file: _______ _______ 1. 2. Loan submission form must be filled out completely. 1003 – Completed, check liquid assets, employment information, phone numbers for home and business, & uploaded liabilities. All assets and bank account must be included particularly on purchases. Tri-merge credit report less than 30 days old Number of units in building and square footage per unit Rent rolls Leases Operating expenses on subject property. (*Important – MUST have real estate taxes, insurance, water/sewer, utilities, and trash/snow removal at the very least. Fill out even if tenant pays.) If Owner Occupied, get market rent & price per square ft. If Full Doc loan, last please provide Two Years Tax Returns. Personal Financial Statement/Balance Sheet for principal Title Information/Title Report Appraisal (If available at time of submission) Purchase Contract (If Applicable) Digital Pictures of the Property are REQUIRED before approvals are issued. _______ _______ _______ _______ _______ 3. 4. 5. 6. 7. _______ _______ _______ _______ _______ _______ _______ 8. 9. 10. 11. 12. 13. 14. Please email all docs including checklist for Pre Approval to: NAME@YOUREMAIL.COM Please Give 48-72 Hours For Approvals. Please Note: Faxed submissions may be delayed and in some cases not accepted. ADDRESS CITY STATE ZIP AND OR BRANCH OFFICE GOES HERE A full underwrite, analysis and due diligence will be needed to proceed prior to loan approval and review. The use of this or any other form to make a credit decision or discourage the filing of an application is strictly prohibited. This form may be used for the limited purpose of understanding loan products available with one of our current funding sources. All credit decisions are made by underwriters and analysts in accordance with established procedures and guidelines as set by their institution(s).