CHECKLIST COMMERICAL PURPOSE LOAN (REAL ESTATE AS COLLATERAL)

CHECKLIST COMMERICAL PURPOSE LOAN (REAL ESTATE AS COLLATERAL)

CHECKLIST
COMMERCIAL PURPOSE LOAN
(REAL ESTATE AS COLLATERAL)

Application

Business Loan Request __________
Financial Statement on Borrower(s) __________
Government Monitoring Sheet (if residential) __________
CIP Disclosure __________
Copies of Signers’ ID (if not already on file) __________

Closing

Note __________
Right to Receive Copy of an Appraisal __________
Mortgage __________
Deed (if purchase) __________
HUD-1 or HUD-1A (if residential) __________
Agreement to Provide Insurance __________
Notice of Free Choice of Insurance Agent __________

Misc.

Recorded in HMDA log (if residential) __________
Flood Determination __________
Termite Inspection (officer’s discretion, if purchase) __________
Appraisal __________
Insurance Binder __________
Title Opinion __________
Approval (as required) __________
Credit Report (<1 yr. Old) __________