›› Required Documents List 

• Section I: Property (items with *** will be collected from the seller/ agents)
  • Complete copies of all Current Leases***
  • Current Rent Roll (details unit #, tenant name, and rents for occupied and vacant units at a minimum)***
  • Current Year-to-Date plus previous 2 years subject property Income and Expense Statements ***
  • Current Year-to-Date plus previous 2 years subject property Capital
  • Improvements Summary (estimate of cost for each improvement is acceptable for initial stage of loan) *** If property has undergone any type of rehab or special circumstances that have had an effect on the net operating income in the previous three years, then please inform us of the details *** Contact for proposed Property Insurance Carrier (Please have to us at least 2 weeks prior to estimated close date)
    
  • Copy of the Purchase Contract plus all addendums ***
  • Copy of the Preliminary Title Agreement ***
  • Digital Pictures of the subject property (5 minimum); if property is located in Phoenix metro area, we will take. ***
  • Property will need to have a wood infestation report (termite report) completed. If an infestation is found, please have the inspecting company do the treatment. ***
  • Completed USA Mortgage property questionnaire (see forms below) ***
  • Property Management information (see forms below) USA Mortgage Corporation 4150 North 12th St. Phoenix, AZ 85014 Phone: 602-435-8762 Fax: 602-254-3446

  Section II: Borrower
  • Completed and Signed Application (see www.greatloanz.com website forms page)
  • Signed Credit Authorizations (see forms below)
  • Signed Form 4506-T (see forms below)
  • Patriot Act Requirements: Legible copy of each borrowers drivers license or state issued ID
  • Completed and signed Schedule of Real Estate Owned (see forms below)

  • If a 1031 exchange is involved, then we will need a copy of the final closing statement and a copy of the exchange letter (lists account balance and specific details for the exchange)
  • 2 months most recent liquid asset statements for all accounts to show funds to close plus reserves (If 2 months not available, please send what you have so we can send out verifications)
  • For W-2 employment, copies of 2004 and 2005 and 2006 W-2s and 1 months worth of most recent pay stubs (each borrower).
  • Copies of 2004, 2005 and 2006 filed Personal Federal Tax Returns (all pages, please sign page 2).
    
  • If you have a Schedule C Businesses listed on the Federal returns, we will need a Signed 2006
  • Year-to-Date Profit and Loss statement for the business (one for each listed). P&Ls can be as simple as income expenses = total or as detailed as you like. If the 2006 Federal returns are not attached, then we will also need a signed 2006 and 2007 profit and loss statement
  • If you have Schedule E Entities (Partnerships or Corporations) listed on the federal returns, we will need a Signed 2006 and 2007 Year-to-Date Profit and Loss statement for the entity (one for each). P&Ls can be as simple as income expenses = total or as detailed as you like.
  • If you plan to take title in an entity and not in your personal name, please let us know as soon as possible so we can get you a list of items we will need for the entity.

    This list should cover the bulk of the items needed on the file, so additional paperwork should be minimal.

    Please call Greg Burckle at 602-282-3804

    
    FORMS:

    Application

    Borrower Authorization #1 and #2

    Borrower Authorization #3

    Capital Improvements Worksheet

    Capital Improvements Worksheet#2

    Certificate of Good Standing Request (Arizona)

    Form 4506-T

    Form 8821

    Inital Loan Disclosure

    USA Mortgage Property Questionnaire (K101)

    Loan Purpose Letter

    Management Letter Requirements (K102)

    Payoff Statement

    Property Questionnaire #1

    Property Questionnaire #2

    Rent Roll

    Schedule of Real Estate

    Wood Infestation Report Requirements