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Mortgage
Loans: Mixed
Use
(Commercial and Residential uses combined)
LTV to 65% *
Debt-to-Income Ratio: 1.1:1
Typical Loan Package includes:
- Appraisal
with copy of appraiser’s license and E&O insurance (AG
or MAI). Credit decision may be provided prior to receipt
of appraisal
- Preliminary
Report
- Loan
Application/Financial Statement for each borrower
- Credit
report for each borrower
- Copy of Lease(s)
- Rent roll
with Tenant’s name, Suite No., monthly rent and termination
date
- Federal income
tax returns (personal and business) for past two years
- Year-to-Date
Profit and Loss Statement
- Explanation
of loan purpose and any significant derogatory credit items
- Purchase:
Copy of purchase contract and addenda
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Organizational documents for business entity borrower
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