DOCUMENT REQUIREMENTS
Income Producing / Investment Properties
Includes all 1 to 4-unit residential rental properties, commercial, mixed-use, specialty-use, hotels, and multifamily 5+ unit properties that are being purchased or refinanced.
NEEDED FOR INITIAL LOAN REVIEW & LENDER TERM SHEET
- Commercial Loan Application
- Rent Roll
- T12 or Property Operating Statement
- Schedule Real Estate Owned (included in Commercial Loan Application)
- Purchase & Sale Agreement or Executed LOI to purchase (if purchase)
NEEDED FOR FINAL UNDERWRITING
- Appraisal
- Bank / Investment Statements showing cash position
- Credit Report (if available)
- Borrower ID
- 3-Years personal and business tax returns (Bank Financing Only)
- Articles of Formation - Entity
- EIN Letter / Entity EIN Confirmation
- Entity Certificate of Good Standing
- Corp / LLC Operating Agreement
- Most recent mortgage statement (if refinance)
- Insurance Company Contact
- Title Insurance Company Contact
Rehab / Ground-Up Construction
Includes all 1 to 4-unit residential properties, commercial, mixed-use, specialty-use, and multifamily 5+ unit properties that are being purchased or refinanced with the intent to rehab or complete ground-up construction, then refinance to hold long-term or sell upon rehab/construction completion.
- Scope of Work & Budget
- Project History Resume
- Schedule Real Estate Owned
- Proforma Operating Statement (if investment)
- Proforma Rent Roll (if investment)
- Construction / Rehab / Fix & Flip Loan Application or PFS
- Appraisal (if available)
- Bank / Investment Statements showing cash position
- Purchase & Sale Agreement or Executed LOI to purchase (if purchase)
- Credit Report (if available)
- Borrower ID
- 3-Years personal and business tax returns (Bank Financing Only)
- Articles of Formation - Entity
- EIN Letter / Entity EIN Confirmation
- Entity Certificate of Good Standing
- Corp / LLC Operating Agreement
- Most recent mortgage statement (if refinance)
Owner-user Commercial Loan (Purchase & Refi)
Includes all commercial, mixed-use, and specialty-user properties where the property owner occupies space for their own business or intends to occupy space for their business.
- Rent Roll (if multi-tenant)
- T12 / Operating Statement
- (Year-to-date & Previous Year)
- Schedule Real Estate Owned
- Borrower Loan Application or PFS (if available)
- Appraisal (if available)
- Owner's business P&L (Year-to-date & Previous Year)
- Owner's business balance sheet
- Bank / Investment Statements showing cash position
- Purchase & Sale Agreement or Executed LOI to purchase (if purchase)
- Credit Report (if available)
- Borrower ID
- 3-Years personal and business tax returns (Bank Financing Only)
- Articles of Formation - Entity
- EIN Letter / Entity EIN Confirmation
- Entity Certificate of Good Standing
- Corp / LLC Operating Agreement
- Most recent mortgage statement (if refinance)
DOWNLOADABLE FORM TEMPLATES
If the Borrower has the above requested documents readily available, you may upload them to the loan file. For borrowers that do not have one or more of the documents available above, the Borrower can use our downloadable templates below by clicking on the links.
T12 or Property Operating Statement
SCHEDULE REAL ESTATE OWNED (Excel)
OUR LOAN PROCESS
ICS Advisor:
- Loan Submitted online by Broker or Borrower
- Loan Review Call Completed with Broker/Borrower
- Borrower Loan File created (One-Drive)
- Initial doc review
- ICS Good Faith Estimate & Funding Fee Agreement issued to Borrower
- ICS GFE & FFA received with Deposit (if not waived)
ICS Loan Processing Team:
- ICS Document Checklist delivered to Borrower via Borrower File Link
- Documents received from Borrower
- Lender Funding Request Package Completed (Advisor or Processor)
ICS Capital Placement Team:
- Funding Request Package presented to Lender(s)
- Lender Term Sheets received
- Lender Term Sheet accepted by Borrower
- Lender Underwriting Deposit Received (if applicable)
ICS Loan Processing Team:
- Final Lender Document Checklist delivered to Borrower
- Final Lender Documents received from Borrower
- Title / Escrow Set-up
- Insurance
- Appraisal (lender may order directly)
- 3rd Party report management
- Closing Scheduled
- ICS Commission invoices to escrow
- Closing
- Post Closing Document retrieval
One-Drive File Set-up
Loan Processing Team:
The lead ICS Advisor will set-up the associated File Upload Links for the loan transaction.
- Property Transaction Master File
- Borrower Doc Upload File (for Borrower/Broker)
- ICS Internal Doc File
- Lender Funding Reqest Package File