Purchase or Refinance Application Check-list and Documents
*Providing all document up front and signing any documents that require a signature before submitting will result in a more streamlined and timely process.
Once the forms are filled out and documents are collected, contact your Business Mortgage Originator.
Fill out, sign, and date the following forms:
Business Loan Application, Personal Financial Statement, and Rent Roll Packet
Documents to collect:
- A copy of the lease(s) on each unit(s) (if attainable).
- Copy of the purchase agreement, signed by both seller and buyer.
- 3-years of Federal tax returns, including all schedules-both personal returns and the LLC returns as well as the Corporation (if applicable).
If the applicant is an LLC or a Corporation:
- A current year to date profit and loss statement.
- The IRS verification letter of the Employer Identification Number (EIN).
- Articles of organization and the operating agreement and/or the bylaws and certificate of Incorporation.
Upon loan approval, we will require membership and an operating account be established and remain with us for the life of the loan. We will also require automatic payments from the operating account for the monthly loan payment. As soon as we have a closing date, we will need to be provided with proof of Insurance on the property (a Binder) and a paid receipt for the annual premium.