Submission Checklist

The following is a list of items required to process your commercial loan. The more of the following information you can provide, the faster W Financial can react to your loan request.

Property Information

Description of the prospective mortgage loan request
  • Desired loan amount
  • Estimated current as-is value of property
  • Estimated as-completed value
  • Sources and uses of funds
  • Budget and exit strategy

Description of the subject property
  • Location
  • Size/square footage (specify both gross and net, if applicable)
  • Number of units
  • Survey/site plan
  • Floor plans (if applicable)
  • Photos of subject property

Provide income/expense statement for the property
  • Annual property taxes
  • Insurance
  • Water/sewer taxes
  • Fuel and electricity
  • Maintenance/repairs
  • If available supply property operating statements for the past two (2) years.

Current Rent Roll (if applicable)
  • Breakdown of unit types (residential/ commercial)
  • Itemize regulated units (controlled, stabilized)
  • Lease escalations and expirations
  • Unit numbers, tenant names, room/bathroom count, etc.
  • For retail, office or industrial properties also provide unit square footage, base rent and description of any pass-through expenses absorbed by tenant.

If Aquisition
  • If acquisition, provide copy of fully executed contract of sale.

If Refinance
  • If refinance, provide summary of current financing, price originally paid for property and date of purchase.

If Subordinate Loan Request
  • If subordinate loan request, provide copy of first mortgage loan offer/commitment.

Borrower Information

Background Info
  • Background of the Borrower(s) / Developer(s) / Principal(s) / Manager(s) including relevant experience (current projects, properties owned, and past projects completed. If condo renovation or development provide info on prior experience).

Credit Report Authorization

Personal Financial Statement for each Borrower/Principal.