Investment Property Loan

When searching for an investment property loan you should be prepared with several items. Below you will find a quick checklist of items needed to effectively evaluate an investment property loan. It is important to give as much information to the lender as possible. Make sure all documents are up to date. This will ensure a smoother application and underwriting process.

  • P&L for the past 3 years and a Year-to-Date
  • Taxes for the borrowing entity for the past 3 years
  • Current Balance Sheet
  • Original Purchase Agreement
  • Brief description of improvements with costs since acquisition
  • An old appraisal if available. Otherwise the following will be needed.
    • Floor Plan/Site Plan
    • Land Acreage
    • Photographs
    • Brief description of the property and it’s surrounding area.
  • Copy of your latest tax bill
  • Copy of your latest insurance billing statement
  • Any existing title reports
  • Describe the use of funds for the loan request

You may not have all this information readily on hand; whatever you can gather will be most helpful. Investor property can be difficult to get done; however, with the right lender and broker on your side, you might be surprised at the loans available to you.

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