Central Avenue Capital

Central Avenue CapitalCentral Avenue CapitalCentral Avenue Capital

Phone: (727) 521-7490

  • Home
  • Current Rates
  • Commercial
    • Quick App - Commercial
    • Commercial Quote
    • Commercial Checklists
    • Need CRE Agent?
    • Approval Criteria-4 C's
  • Residential
    • Apply Now-Residential
    • Short Term Rentals
    • Non-QM Products
    • Residential Checklist
  • Recent Closings
  • Q & A
  • Schedule Virtual Meeting
  • Latest Deals from Lenders
  • About Us
  • Mortgage Calculator
  • Credit Card Processing
  • More
    • Home
    • Current Rates
    • Commercial
      • Quick App - Commercial
      • Commercial Quote
      • Commercial Checklists
      • Need CRE Agent?
      • Approval Criteria-4 C's
    • Residential
      • Apply Now-Residential
      • Short Term Rentals
      • Non-QM Products
      • Residential Checklist
    • Recent Closings
    • Q & A
    • Schedule Virtual Meeting
    • Latest Deals from Lenders
    • About Us
    • Mortgage Calculator
    • Credit Card Processing

Phone: (727) 521-7490

Central Avenue Capital

Central Avenue CapitalCentral Avenue CapitalCentral Avenue Capital
  • Home
  • Current Rates
  • Commercial
    • Quick App - Commercial
    • Commercial Quote
    • Commercial Checklists
    • Need CRE Agent?
    • Approval Criteria-4 C's
  • Residential
    • Apply Now-Residential
    • Short Term Rentals
    • Non-QM Products
    • Residential Checklist
  • Recent Closings
  • Q & A
  • Schedule Virtual Meeting
  • Latest Deals from Lenders
  • About Us
  • Mortgage Calculator
  • Credit Card Processing

Commercial Real Estate Loan Checklist

Standard Checklist Items (Banks/Credit Unions, Agency

                                                 Checklist for Banks/Credit Unions

Borrower's Information   

  •    Actual name in which the property is/will be titled (Name of LLC, etc.)
  •    Most recent 3 years tax returns for borrowing entity(including K-1s) (If applicable)
  •    Year to date income statement (profit & loss) and balance sheet (If applicable)
  •    Operating Agreement/By-Laws for Borrowing Entity
  •    For Construction: List of development team (Architect, engineer, legal, general

                      contractor, appraiser, environmental, etc.)


Guarantor's Information (For Individual Guarantors)

  •   Background (Simple Bio), Experience, and Resume for owners/guarantors
  •   Most recent 3 years personal tax returns for all owners with 20% or more ownership
  •   Current signed personal financial statement (PFS) for all guarantors 
  •   Most recent copies of bank statements/brokerage statements (Verify Liquidity)
  •   Copy of ID's for all individual guarantors


Guarantor's Information (For Entity Guarantors)

  • Most recent 3 years business tax returns (Including K-1s)
  • Operating Agreement/By-Laws for each entity guarantor


Project/Subject Property Financial Information

  • Copy of Purchase Contract (If applicable)
  • Most recent 2 years year end income/expense statements (If applicable)
  • Year to date income/expense statement (If applicable)
  • Proforma income statement for current year (If applicable)
  • Current rent roll showing names, unit number, rents, extra charges, concessions, starting & expiration dates (If applicable)
  • Information on existing debt (Copy of recent statement)(If applicable)
  • Complete projects cost breakdown (If applicable)


Project/Property Information (Send only what is applicable to the request)

  • Copy of existing or proposed leases and letters of intent
  • Survey with legal description
  • Description of improvements and amenities
  • Copy of recent appraisal (If available)
  • Copy of environmental report (If available)
  • Site plans, floor plans, photographs, vicinity maps, feasibility studies
  • Current permitting status with copies


                   

For Agency Financing (Multifamily-Items requested for initial rate quote)

  • Trailing 12 month Profit & Loss
  • Most recent 2 years Year End Income/Expense Statements
  • Current Rent Roll 
  • Background on Sponsors


                           

For Investor Residential (Short Term & Long Term Rentals (1-8 Units)

  • Loan Application -Includes Schedule of RE Owned (Will be provided)
  • Credit Report Authorization (Will be provided)
  • Last 2 months Bank Statements (Verify Source of Funds/Liquidity)
  • Entity Documents (IRS Letter with Tax ID #, Articles of Incorporation/Bylaws, Certificate of Good Standing, Operating Agreement/Partnership Agreement & Certificate of Formation.
  • Condo Questionnaire (If Applicable)
  • Leases or Short Term Rental Operating Statements (If Applicable)
  • Purchase Contract (If applicable) or Recent Renovation Documentation (If applicable)





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