|
Document
|
Instructions
|
Link
|
|---|---|---|
|
Corporate Filing Receipt
|
Must be an original from Department of State
|
|
|
Certificate of Incorporations
|
Required if filed as a corporation
|
|
|
Article of Organization
|
Required if filed as an LLC
|
|
|
By-Laws
|
Required if filed as a corporation
|
|
|
Operating Agreement
|
Required if filed as an LLC
|
|
|
Corporate Resolution
|
Required if filed as a corporation
|
|
|
Member Consent
|
Required if filed as an LLC
|
|
|
Certificate of Good Standing
|
Required if entity is in existence > 30 days at time of closing
|
|
|
EIN # Certificate
|
IRS Letter with EIN # must be submitted
|
|
|
W9 Form
|
Must be filled out in the name of entity and signed
|
|
|
ACH Form
|
Must be filled out and signed
|
|
|
Copy of Voided Check
|
Check must be same as the account that is listed on ACH form
|
|
Document
|
Instructions
|
Link
|
|---|---|---|
|
Loan Application
|
1003 Application
|
|
|
Credit Card Form
|
Authorization for Appraisal Fee
|
|
|
Borrower ID
|
Driver's License and/or Passport
|
|
|
Social Security Card
|
Copy of the Card or Loss Affidavit
|
|
|
Credit Report
|
Must be provided via Lender Link
|
|
|
Personal Financial Statement
|
All Sections must be filled out and Section “G” in its entirety
|
|
|
Borrower Experience Form
|
Must list all real estate owned in prior years
|
|
|
REO Schedule
|
Must list all real estate presently own
|
|
|
Non Primary Use Letter
|
Must be handwritten as per sample at provided link
|
|
|
Investment Use Letter
|
Must be handwritten as per sample at provided link
|
|
Searches
|
Pro Forma Endorsements
|
Title Bill
|
|---|---|---|
|
Following must be performed in County and State of Entity Formation and for each Guarantor in County and State of their Primary Residence |
NY Standard
|
Mortgage and Security Agreement |
|
Following must be performed in County and State of Entity Formation and for each Guarantor in County and State of their Primary Residence |
1-4 Family
|
Assignment of Leases and Rents (w/255 affidavit) |
|
Following must be performed in County and State of Entity Formation and for each Guarantor in County and State of their Primary Residence |
Waiver of Arbitration
|
Assignment of Leases and Rents (w/255 affidavit) |
|
Bankruptcy
|
Policy Authentication
|
UCC (county against individual)
|
|
Lien
|
Environmental Lien Protection
|
Assignment of Mortgage
|
|
Judgement
|
Environmental Lien Protection
|
Assignment of Mortgage
|
|
UCC
|
Mortgage Recording Tax
|
Collateral Assignment of Mortgage |
|
Patriot Act
|
Mortgage Recording Tax
|
Collateral Assignment of Mortgage |
|
Document
|
Instructions
|
Link
|
|---|---|---|
|
Contract of Sale
|
Must be submitted only on purchases
|
|
|
Appraisal
|
Must be an AMC Company for SFR and for Mixed-Use and Multifamily Bowery, CBRE or Cushman and Wakefield |
|
|
Leases
|
Must be current and signed by all tenants
|
|
|
Income and Expense
|
Must be completed in its entirety. For vacant properties, an expense part must be filled out
|
|
|
Renovation Budget
|
Must be submitted on loans only with renovation holdback
|
|
|
Payoff Letter
|
Must be submitted by all existing lien holders with current pay off date
|
|
|
Property Insurance
|
Must be for the full amount of the loan amount with a 100% Replacement Cost, and naming Lender as Mortgagee and Loss Payee, see sample at the link |
|
|
Insurance Paid Invoice
|
Must be Paid in Full for 1 year from date of closing
|
|
|
Flood Hazard Determination
|
Must be submitted only for properties in Flood Zone
|
Note:
For your convenience and to expedite transactions please feel free to use our preferred vendors below
When contacting, please advise that you are placing an order for Tower Fund Capital and they are aware of all necessary items that we require
Property Insurance – If you need assistance to order Insurance you may use our provider for a smother transaction.
Preferred Insurance Company is Premier Insurance Group 718-408-8788 Simon Friedman [email protected]
Title – If you are not sure about ordering Title, you may order Title through our closing attorney
Preferred Title Company is Riverside Abstract 718-215-5133 Tziporah Montrose [email protected]
