Commercial Mortgage Loan Checklist

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Commercial Mortgage Loan Checklist



Commercial Mortgage Loan Checklist

The following types of deposits need to be submitted

  1. Application Deposit
  2. Loan Processing Fee
  3. Report Deposit
  4. Legal Deposit

Supporting Documentation

  1. Certified Historical Operating Statements
    1. Last 3 years
    2. Monthlly Trailing 12 Months
  3. Certified Current Operating Budget
  4. Certified Current Rent Roll
  5. Tenant Leases
    1. Copy of all Tenant Leases - Commercial Properties Only
    2. Sample of Tenant Leases - Multi-Family Properties Only
    3. Copy of all Lease Abstracts - Commercial Properties Only
    4. Copy of Ground Leases & Abstracts>
  7. Schedule of Tenant Reimbursements - Commercial Properties Only
  8. Tenant Information - Commercial Properties Only
    1. Descriptions
    2. Financials
    3. Sales Information
  10. Property Site Plan & Floor Plans
  11. Leasing Brochure - Multi-Family Properties Only
  12. Management Company
    1. Copy of Management Agreement
    2. Company Description
    3. Listing of Properties Currently Managed
  14. Sources and Uses (including current loan balance, lender, interest rate & maturity date)
  15. Purchase Contract or Construction Cost Breakdown: If owned less than 3 years
  16. All Guarantors & any Principals with greater than 20% ownership
    1. Credit Authorization Form
    2. Certified Financial Statements
    3. Last 3 years of tax returns
    4. Resume
  18. Borrowing Entity
    1. Credit Authorization Form
    2. Certified Financial Statements
    3. Last 3 years of Tax returns
    4. Entity Structure
  20. Property Information
    1. Current Real Estate Tax Bills
    2. Insurance Premium Invoices
    3. Schedule of Capital Expenditures
    4. Copy of Service Contracts
    5. Tenant Delinquency & Aged Receivables
    6. Tenant Delinquency & Aged Receivable
    7. Last 3 months of Bank Deposits
    8. Schedule of TI/LC costs
    9. Schedule of On-Site Employees with salaries and benefits
  22. Third Party Reports
    1. Appraisal
    2. Engineering
    3. Environmental
    4. Seismic
    5. Zoning
    6. Termite Inspection
Click here to download this checklist in pdf format.

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