Summarize the transaction
Explain the amount requested, property, use of funds, ownership and desired closing date on one page.
Document operations
Include historical financial statements, current results and a clear explanation of unusual items. Rental assets need a rent roll and major leases.
Explain the equity
Show the amount, source and timing of the borrower’s contribution. Identify any other debt or security affecting the transaction.
Allow for due diligence
Third-party reports and legal work take time. Discuss the proposed review process and costs before ordering reports.
Put the guide to work
Prepare your documentsGeneral educational information. Your lender, legal and tax requirements may differ.