Document Requirements
| DOCUMENT | CONFORMING LOANS Bank, Agency / CMBS All Property Types |
FLEX / BRIDGE Commercial & Multifamily 5+ Units |
FLEX / BRIDGE 1-4 Unit Residential & Portfolio Loans |
REHAB & CONSTRUCTION All Property Types |
|
| REQUIRED FOR PRELIMINARY REVIEW & TERM SHEET | |||||
 |
Schedule of Real Estate Owned + Rent Roll |
 |
|
|
Proforma |
 |
Completed 1003 Loan Application or Personal Financial Statement |
|
|
|
|
| The ICS 1003 includes a schedule of real estate owned and rent roll section for loans / properties up to 25 units & 14 properties owned. Use the Schedule of Real Estate + Rent Roll for larger properties above or when not using the ICS 1003. | |||||
| P&L For Property Last Year & YTD or T12 for Multifamily |
|
|
Proforma |
||
| Landlords should have a P&L statement for YTD and previous year, or T12 for 5+ unit apartment buildings. Appreciated but not required for 1-4 unit residential when a detailed schedule of real estate owned and rent roll is provided. | |||||
| Sponsor / Contractor Project History | |
||||
|
Construction Scope of Work Budget / Plans |
|
|||
| A scope of work and budget is required for all rehab and construction projects prior to loan review. | |||||
| > Request Credit | Credit Report ICS can run a soft credit pull if needed. |
|
|
|
|
| If you already have a borrower tri-merge credit report dated within 60-days, you can upload it to the loan file online. ICS can run a soft pull for you if needed. > Your client can also pull their own tri-merge report through Experience via this link. |
|||||
| REQUIRED AT TERM SHEET ACCEPTANCE | |||||
| Last 3 Years Personal Tax Returns (not required for Agency) |
|
||||
| Last 3 Years Business Tax Returns | |
||||
| Bank / Investment Statements (last 3-months) | |
|
|
|
|
| Copy of ID | |
|
|
|
|
| Purchase & Sale Agreement (if purchase) Include all addendums | |
|
|
|
|
| Sponsor / Borrower Resume | |
|
|||
| Mortgage Statement (if property owned) | |
|
|
|
|
| LLC / Entity Operating Agreement | |
|
|
|
|
| LLC / Entity IRS EIN Letter or W9 | |
|
|
|
|
| LLC / Entity Articles of Formation | |
|
|
|
|