A current financial statement and a minimum of two years of tax returns to include K1s on each borrower/guarantor. If the borrower is a business entity, please provide a copy of the articles of incorporation/partnership and operating agreement or copy of the trust agreement.
We will need a minimum of two years of income and expense statements, a current rent roll, copy of all leases and a copy of the fire insurance policy on the subject property.
Third Party Reports
The following third party reports will be required to complete the loan request, obtain loan approval and fund the loan. The borrower will pay for the following items:
- MAI Appraisal
- Phase I Environmental Report
- Escrow and Title
- UCC Search and Recording
- Flood Search/ Flood Insurance (if required)
- Credit Reports