Documentation

Documentation Requirements

Each Mortgage is assessed individually. Not all documents listed below will be required. Your Commercial Mortgage Specialist will notify you of what is required.

League Savings and Mortgage Documents

  • Commercial Mortgage Submission Summary
  • Commercial Loan Application (includes names of officers of the company)
  • Applicant(s)/Guarantor(s) Statement of Affairs
  • Consent and Authorization to Use Personal Information
  • Appraisers Letter of Transmittal
  • Guidelines for Completion of Residential and Commercial Appraisal Reports
  • Environmental Assessment Checklist (or an Environmental Assessment report or questionnaire may also be acceptable)
  • Joint Disclosure Consent – Commercial Accounts
  • Rent Roll Form

See Commercial Mortgage information package for more information

Other Documents

  • Three years tax returns
  • Most recent Notice of Assessment (NOA)
  • Three years financial statements for the company
  • Current operating statement for the real estate to be financed
  • Property details and photos
  • Property appraisal
  • Environmental Assessment report or questionnaire (if League Savings and Mortgage Environmental Assessment Checklist form is insufficient)
  • Current credit report – personal and commercial
  • Copy of Purchase and Sale Agreement, as appropriate
  • Income/Expense Projections for two years
  • Copies of leases and rent roll
  • Construction cost estimates and contracts
  • Transfers/Assignments:
    • Copy of maturity notice
    • Copy of original mortgage document
    • Property details and photo
    • Phase I Environmental Assessment Report, as required
    • Current appraisal by an approved AACI