Loan Checklist: Are You Ready to Apply?

What lenders usually ask for

The standard lists behind the check. You don’t need everything to start — your advisor confirms what each lender actually needs.

Commercial real estate loan checklist

About the property

Current rent roll (skip if owner-occupied)
Trailing-12-month operating statement (T-12) and the last 2 years of operating statements
Property tax bill and insurance declarations page
Photos or a short description of the property and any recent improvements

About you and your entity

Government-issued photo ID for each owner of 20% or more
Personal financial statement for each guarantor
Last 2 years of personal tax returns
Entity documents — articles, operating agreement or bylaws, EIN letter
Schedule of real estate owned

For the purchase

Signed purchase and sale agreement (or LOI)
Proof of down payment funds — recent bank or brokerage statements
Budget for any planned repairs or improvements

What each CRE loan type requires →

Business loan checklist

Financials

Last 3–6 months of business bank statements
Last 2–3 years of business tax returns
Year-to-date profit & loss and balance sheet
Business debt schedule (who you owe, balance, payment)

About you and your business

Government-issued photo ID for each owner of 20% or more
Personal financial statement for each guarantor
Last 2 years of personal tax returns
Entity documents — articles, operating agreement or bylaws, EIN letter
Voided business check

How underwriters read these documents →

Questions

What does this check?

Two things. First, the minimums most lenders look for — revenue, how well cash flow or rent covers the payment, credit, time in business, down payment, cash left after closing and recent credit history. Second, the documents you already have. It shows which minimums you meet, which come with conditions and what would change the rest.

Does meeting the minimums mean I’m approved?

No. It means your profile looks like what lenders typically accept — not an approval, a rate quote or a credit decision. Each lender underwrites its own way; your advisor confirms what you qualify for.

Does this checklist check my credit?

No. Nothing on this page checks your credit, and nothing you choose is sent anywhere — your answers stay in this browser tab. After your call, and only with your permission, your advisor runs the credit check lenders need.

Do I need every document before I apply?

No. The application takes about a minute and asks for none of them. Your advisor confirms exactly what your lenders need, and you gather it before or after your call.

How is this different from the loan finder?

The loan finder shows which loans fit and how much you could borrow. This checklist uses the same engine and adds what lenders check before they say yes — credit history, cash in reserve, documents — so you know whether to apply now or what to fix first. Answers from the loan finder carry over.