Standard Items to Consider for a Prospective Loan

Project

1. Project plan describing the intended utilization of the subject property.
2. Complete project cost breakdown.
3. Copy of engineer's estimates.
4. Full-size copy of all tentative and final maps.
5. Copies of contracts with contractors and subcontractors.
6. Copies of performance bond and payment bonds.
7. Marketing information for our investors, (colored maps, aerials. architectural renderings, newspaper articles, resumes, etc.).

Collateral

1. Legal description of property to be used as collateral including parcel and plot maps
2. Current appraisal valuing subject property.
3. Listing of surrounding property showing comparable values.
4. Preliminary title report on the property and copies of exceptions.
5. Survey map with legal descriptions indicating the location of easements, utilities, and rights-of-way.
6. Soils report.
7. Environmental Phase 1 Report.
8. Letter of capacity and connection from the utility districts.
9. If there is to be a subordinated 2nd deed of trust.
1. Copy of note and deed of trust.
2. An acknowledgement of agreement to subordinate.

 Borrower

1. Name and type of entity (Corporation, Partnership, LLC, etc.)
2. Copy of Articles of Incorporation and/or Partnership Agreement, etc.
3. Copy of corporate/organizational resolution authorizing purchase and loan.
4. Copy of purchase agreement.
5. Copy of purchase closing statement.
6. An acceptable attorney representation/opinion letter from borrower's attorney including, but not limited to, choice of law regarding jurisdiction, usury, and procedures.
7. A copy of most recent year end financial statements.
8. A copy of last two tax returns.