New Loan Document List
Borrower & Guarantor Documents
| Loan application | Executed prior to closing date |
| Organizational documents | Bylaws/Operating agreement/Trust agreement Articles of incorporation/organization Certificate of Good Standing Corporate/LLC resolution, Trust Certificate |
| Borrower & guarantor ID | Entity – EIN IRS letter Individual – SSN |
| Credit report | Authorization for credit check Credit report |
| Experience | Borrower experience spreadsheet Contractor experience spreadsheet |
| Bank statement | Borrower – 3 months Guarantor – 3 months |
| Background check | Criminal & financial check for borrower & guarantor |
Property
| Appraisal | Within 90 days of closing |
| Project plan and purpose | General purpose and exit strategy |
| Inspection report | Max 30 days prior to closing |
| Survey | Max 30 days prior to closing |
| Scope of work | Detailed plan, schedule, and budget |
| Lease agreement | For rental properties |
| Property purchase agreement | Including any amendments and assignments |
| HOA | Governing document, is applicable |
| Borrower-Originator agreement | Any agreements between these parties |
| Cash-out loans | Use of proceeds |
Insurance & Title
| Property insurance | Evidence of insurance Insurance binder Insurance agent contact Flood hazard determination form Flood policy, is applicable |
| Title policy | Title commitment Title Policy Closing protection letter Closing agent information |
Loan Documents
| Loan purchase agreement |
| All signed documents, as applicable: Certificate of Business Purpose Loans Certification of borrower identity verification Compliance Agreement Declaration of non-owner occupancy Deed of Trust / Mortgage / Security Deed Personal Guaranty Promissory Note Arbitration Agreement Loan/Construction Agreement Loan Application Borrower’s W-9 Borrowing Entity Document(s): operating agreement/bylaws, articles of incorporation/certificate of formation, resolution(s), and certificate of good standing Notice of Right to Receive Appraisal Closing Certificate Entity Resolution Assignment of Warranties, Permits, Licenses, and Contracts Affidavit of Title Pledge Agreement Environmental Indemnity Agreement Conditional Loan Approval Acknowledgment Borrower Certification and Authorization UCC Financing Statement Agreement to Provide Insurance Balloon Disclosure Certificate of Borrower and Guarantor Control Agreement Correction Agreement- Limited Power of Attorney Signature Affidavit |