Documents required vary from loan to loan, but here are the general documents needed for each type of loan:
- Completed Loan Application
- Renovation Budget (if applicable)
- Property Projections (if applicable)
- Real Estate Investment Experience Spreadsheet
- Contact Sheet (All contact information for everyone involved in the property purchase from guarantors, lawyer, appraisal point of contact, title company, etc.)
- Credit Authorization Form (for all company owners over 20%)
- ACH Form (for wire transfers)
- Articles of Organization (LLC, S-Corp, etc.)
- EIN # or Tax ID #
- Company Operating Agreement (with ownership share percentages)
- Photo ID (for all company owners over 20%)
- Two current bank statements
- Purchase contract
- Other pertinent items such as: Bankruptcy Discharge Notice or Divorce Decree