LIST
OF ITEMS REQUIRED TO UNDERWRITE AN
OWNER-OCCUPIED
BUSINESS
 Download
.pdf file
1.CURRENT
BALANCE SHEET and CURRENT YEAR TO DATE
PROFIT & LOSS
statement for the business.
2. LAST THREE (3) YEARS’ PROFIT & LOSS
STATEMENTS.
3. COMPLETE INCOME / EXPENSE STATEMENT on
the property including:
- Annual property taxes
- Insurance
- Water / Sewer
- Fuel
- Electricity
- Maintenance / Repairs
- Management
4. SUMMARY OF ALL LEASES (if any) showing
escalations and expirations.
5. COMPLETE, DETAILED PHYSICAL DESCRIPTION
INCLUDING SQUARE FOOTAGE.
6. IF REFI, PRICE ORIGINALLY PAID FOR PROPERTY,
date of purchase and summary of current financing.
7. IF ACQUISITION, COPY OF FULLY EXECUTED
CONTRACT OF SALE.
8. PHOTOS, if available.
9. SITE PLAN or Property Survey.
10. SUMMARY OF CURRENT FINANCING (refinance
only) including:
- Current lender
- Current
principal balance
- Current
interest rate
- Current
monthly payment
- Due
date
- Prepayment
penalty information
11. FULL DESCRIPTION/HISTORY OF BUSINESS
12. BIO / RESUME OF PRINCIPAL(S).
13. LAST TWO (2) YEARS’ BUSINESS
TAX RETURNS.
14. LAST TWO (2)
YEARS’ PERSONAL
TAX RETURNS for all
principals of business.
15. COPY OF DEED
16. PERMISSION
TO RUN CREDIT REPORT(S): Please print the CREDIT
REPORT AUTHORIZATION pdf file.
(Please make copies for each individual in
the case of a corporation or partnership,
complete and fax back to 212-532-1222).
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