Benchmark Financial & Real Estate Services Inc
Benchmark Financial & Real Estate Services Inc.
8080 La Mesa Blvd. #214 La Mesa, CA 91941 619-465-6200 619-465-1693 fax
CHECKLIST FOR APARTMENT LOANS
CHECKLIST FOR SUBJECT PROPERTY
❑ If available, the 2010 and 2011 Income and Expense Reports for the Property (can use tax returns for prior years) *
❑ Current year to date 2012 income and expense for the property *
❑ Current Rent Roll *
❑ Preliminary Title Report or Old Title Report
❑ Property Description
❑ Purchase Contract (If Applicable) and Escrow Instructions
❑ Site Plan and floor plans if available
❑ If available, any old appraisals
CHECKLIST FOR BORROWING ENTITY
❑ Current Balance Sheet and Income Statement plus Two year Federal Tax Returns
❑ If Partnership, copy of Partnership Agreement, LP1, Certificate of Good Standing
❑ If Corporation, By Laws, Articles of Incorporation, Resolution of Borrow, Cert. of Good Standing
❑ If LLC, formation and other similar documentation as above
CHECKLIST FOR LOAN APPLICATIONS FOR INDIVIDUALS
❑ Personal Financial Statement (or Uniform Residential Loan Application) and Schedule of Real Estate signed and dated *
❑ If Trusts are involved, need a signed copy of the Trust Agreements
❑ Any separately prepared Financial Statements or Schedules must be signed and dated.
❑ 2010 and 2011 (if available) Complete Federal Tax Returns signed and dated on page 2 (If Spouse is part of Borrowing Entity, be sure to include her or his signature on 1040 tax returns and personal financial statements) and W-2 statements. If 2011 is not completed and it is after April 15th, send extension form and the 2009 Tax Return. *
❑ Last two months of paystubs
❑ Signed Credit Authorization and a deposit check payable to Benchmark for $750
❑ Last two months copies of Bank and Brokerage Statements for each account listed
❑ Latest copy of Pension Plan or Retirement Account statements for each account
❑ Latest copy of Mortgage Statement for existing mortgage(s)
❑ Include copies of K-1s and 1120s statements for all Partnerships and S-Corps owned. If a General Partner, include copy of 1065 if you own more than 20% of a corporation, send 1120 and 1120S Returns for last two years
❑ Copy of Personal Resume (can be brief summary, a paragraph or two)
❑ Copy of drivers license (Patriot Act)
* items are required upfront for preliminary underwriting.
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