Items Needed for Underwriting
1. Summary of work to be completed on property (if applicable include repair calculator).
2. 3 months most recent bank statements, including loan statements on any existing mortgages on property to be used as collateral.
3. Rent rolls and copies of all rental agreements (if applicable).
4. LLC Operating agreement, if applicable.
5. Exit Strategy.
Needed to Close
1. Signed Purchase and sales agreement, if applicable.
2. Hazard insurance binder, proof of insurance coverage.
3. Current year property tax statement showing taxes paid in full through closing.
4. Appraisal (obtained by Waban Mortgage paid for by borrower).
Note: Other items may be required prior to closing.