Cohen Synergies AKA West U Int. AG
Item CheckList
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Item Checklist  


As a part of your loan approval, certain items will be required to be documented. The following is the most common list of items that are requested. Some programs may require more or less documentation depending on your specific situation.

The following items are critical to your loan being completed in a timely manner. Please provide the following items if they apply to you:

  • Original W-2 forms for the last two years, for all applicants

  • Original Paystub(s) covering the last 30 days, for all applicants

  • Most recent Bank Statements/Credit Union for the past 2 months, all pages

  • Original 401K and IRA Statements, all pages

  • Federal Tax Returns for the previous 2 years (If Self Employed or receive Commission Income)

  • Complete copy of Bankruptcy Papers including Discharge

  • Divorce Decree and Separation Agreement and Proof of Child Support

  • Proof of Receipt of Child Support Payments for the last 12 months (only if you intend to use this income to qualify for your Mortgage loan or if you are required to pay Child Support)

  • Refinance - Name and Phone Number of Home Owners Insurance Agent Payoff Statement

  • Refinance - Copy of your Property Survey

  • Refinance - Original Title Policy

  • VA - Veteran - Original Certificate of Eligibility DD214

  • FHA/VA - Social Security card for all applicants

  • FHA/VA- Valid Drivers License for all applicants



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Income Producing Properties
 Information Checklist

  • Past three (3) years Actual Income/Expense Statements.
  • Current Month Rent Roll.
  • Lease Summary/Abstract (incl. start/end dates, square footage, cam charges).
  • Interior and exterior photos of building(s).
  • Current Year Income/Expense Statement (YTD).
  • Five Year Income/expense Pro-forma.
  • Borrower Resume and Summary of Real Estate Track record.
  • Statement of net worth of borrowing entity and principals of entity.
  • Site Plan.
  • If acquisition, copy of executed purchase contract.
Construction Lender Information Checklist
  1. Borrowing entity Financial Statement (any liens/judgments?)

 

2.   Narrative summary of project in its entirety including mortgage request and                          source and use of funds.

 

  1. Borrowing entity track record:
    • Project(s) Completed Description (s)
    • Construction Budget - Goal vs. Actual
    • Construction Time   -   Goal vs. Actual
    • Profits  - Goal vs. Actual

 

  1. Borrowing entity/principals schedule of real estate owned and financial statements

 

  1. Banking References

 

  1. Detailed line item summary of all hard and soft costs

 

  1. Market Analysis of sales closed of comparables during past twelve(12) months (absorption rate)

 

  1. Aerial photos

 

  1. Site Map (Plan)/ what was on site before project.  Description of adjacent area for environmental, floodplain review.

 

  1. Architectural/Engineering Plans

 

  1. Evidence of all appropriate zoning/permit approvals

 

  1. Credentials of marketing entity

 

  1. General contractor-bondable-up to what amount? Any liens or judgments? Resume and track record

 

  1. If project is single family sub-division, will developer be selling lots only or finished homes? Forecast of lot/home pre-sales

 

Rental Properties To Be Built Information Checklist

  1. Executive summary including borrowing entity financial statement (ideally audited) and time from construction commencement through construction completion and income stabilization.

2.  Borrowing entity principals’/ guarantors financial statement (any liens – judgments?)

  1.  Borrowing entity resume/track record:

    • Project Description (s) including

    • Construction Budget - Goal vs. Actual

    • Construction Time   -   Goal vs. Actual
       

  1. Borrowing entity/principals schedule of real estate owned, including  current value , encumbrances, and personal guarantees pledged.
     

  1. Banking References
     

  1.   a) Detailed line item summary of all hard and soft costs

            b) Source and Uses of Funds Required To Build & Complete Project

  1. Market Analysis : a) if project for rent, market comparable rentals – (rental, rate/absorption rate) b) if project for sale, market comparable sales closed in past twelve (12) months
     

  1. If project is for rental: a) five year income/expense pro-forma b) summary of anticipated lease terms and rate prior to construction c) if expansion of existing property, past three years income expense statements of existing operating entity.
     

  1. Photos,  Exterior, Interior “As Is” and artist rendering as proposed, an Aerial if available.
     

  1. Site Map (Plan)/ what was on site before project.  Description of adjacent area for environmental, floodplain review.
     

  1. Architectural/Engineering Plans
     

  1. Documentation of local agencies’ approval(s)
     

  1. General contractor-bondable-up to what amount? Any liens or judgments? Resume and track record
     

  2. Construction contract – what type?  Ideal contract is guaranteed maximum price and all subs bonded.

 

Cohen Advisors has Multi-Family and Commercial Loans
available from $3,000,000 to 250,000,000.
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Information needed for mortgage requests.

  • Plat Map.
  • Subject and Land Sale, Rent Comparable, and Sale Comparable Location Map (maps can be separate).
  • Subject Photos.
  • Subject Floor Plans, Building Drawings, and Square Footage Calculations.
  • Land Sale Comparable Photos (if over 50% of the total value).
  • Rent Comparable Photos.
  • Sale Comparable Photos.
  • Subject Rent Roll (or Lease Summary).
  • Subject Income and Expense Statements.
  • Preliminary Title Report (or other assessor information).
  • Statement of the Appraiser's Qualifications.
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