Investment Property
Any property where rents are collected and is the main source of paying the mortgage and other property related expenses.

Required for issuing a lender letter of interest (LOI) or pre-approval which details rate and terms:

• Rent Roll / Schedule of Leases
• 3 years P&L (or appropriate schedule from tax return)
• 3 years personal tax returns for personal guarantor(s)
• Personal financial statement for personal guarantor(s) (or residential loan application)
• Purchase contract (if a purchase)
• Credit report (tri-merged, we will run)

After initial review we will also need:

• Lease agreements
• Appraisal
• Insurance information
• Payoff information

Owner-Occupied Property
Any property where the source of loan repayment is the owners business (even if held as a separate entity). If the property is partly leased and part owner occupied, you will need to provide everything required in both sections.

Required for issuing a lender letter of interest (LOI) or pre-approval which details rate and terms: equired for issuing a letter of interest (LOI) which details rate and terms:

• 3 years business P&L and Balance Sheet
• 3 years business tax returns
• 3 years personal tax returns for personal guarantor(s)
• Personal financial statement for personal guarantor(s) (or residential loan application)
• Purchase contract (if a purchase)
• Credit report (tri-merged, we will run)

After initial review I will also need:

• Appraisal
• Insurance information
• Payoff information
• New Construction or Substantial Rehabilitation:
• Brief executive summary explaining use and income source from the property and background of the organization to be the proposed real estate.
• Simple recap of Construction Costs.
• Plans and Specifications for construction.
• Most current rent roll if the loan is for acquisitions with substantial rehabilitation.

Some lenders may also require additional documentation such as resumes for all principals, environmental reports, photos, old appraisals, additional operating history, letters of explanation, aging reports, etc.