Commercial Mortgages

INFORMATION REQUIRED

Typical documentation required to process a conventional mortgage for "A" type lenders:

• Executive Summary
  
  
• Completed Application
  
  
• Last three years corporate tax returns
  
  
• Last three years personal returns
  
  
• Copy of Deed
  
  
• Copy of most recent tax bill
  
  
• Interior and exterior photos of property (if available)
  
  
• Copies of leases
  
  
• Copies of rent rolls
  
  
• three years Income and Expense statements
  
  
• Detailed explanation of the use of loan proceeds
  
  
• Itemize all existing debt/mortgages on the subject property
  
  
• Copy of recent appraisal, survey and environmental credit (if available)

Typical documentation required to process a non- conventional mortgage for "B" type lenders:

• Completed application
  
  
• Copies of current business license - no specific length of time in business required
  
  
• Verification of existing commercial or personal mortgage payment history is satisfactory
  
  
• Verification of rent - cancelled cheques, loan/bank statements for six months
  
  
• Rent rolls - on all properties with five or more residential units and on commercial property that is not 100% owner occupied. Rent roll must be dated and signed by the borrower
  
  
• Tenant acknowledgements are required for non-residential properties
  
  
• Title Insurance is required