Tips to a Speedy Approval

July 18, 2017


Congratulations! If you’ve come to read this blog it means you’re serious about purchasing a commercial building of sorts. Or maybe it means that you want to refinance and you just need a refresher on what’s “standard.” Either way, you’ve come to the right place!


Below Are Things That Should be Collected First:

  • Rent Roll of the Current Property

  • Past 2 years Proforma of the property

  • Year To Date Proforma of the property

  • List of Capital Improvements past 3 Years (if applicable)

  • Personal Financial Statements for anyone on the loan, or in the case of an LLC, all principals of the LLC


Next Are Things to Keep in Mind for Later:

  • Insurance Contact

  • Phase 1 Environmental (for older or rural located buildings)

  • Leases on all units

  • Past 2 years Business Tax Returns (if applicable)

  • Past 2 years personal tax returns

  • Schedule of Real Estate Owned from all borrowers


This list is not to say that you cannot start from scratch. Here are at The Sound Mortgage Brokers, we have the expertise to help you with each part of the checklist. Whether you’re brand new and know nothing about any of these things, or have years of experience in the field, we are here to make your closing process the smoothest available. Request a consultation for further assistance with your approval process. 

Please reload

Our Recent Posts

Mortgage Nightmares: Dodd Frank Regulations, 1 out of 2 Applications are turned down

October 24, 2018

Self-Driving Cars vs Real Estate

March 30, 2018

Supplemental Income: Passive or Active Investing?

March 12, 2018

Please reload


Please reload

The Sound Mortgage Brokers LLC  is for Non-Owner Occupied residential and commercial Real Estate.

©2018 by The Sound Mortgage Brokers LLC.