Missing or incomplete paperwork is one of the most common reasons an investment property loan gets delayed. The good news is that most lenders ask for the same core documents. If you gather them before you apply, you can respond faster, avoid back-and-forth, and give your deal the best chance of closing on time.
Use this checklist as a starting point. Exact requirements vary by lender, program and transaction, and your loan team may ask for additional items.
1. Borrower and Guarantor Documents
- Government-issued photo ID for each guarantor
- Completed loan application
- Authorization to pull credit and run a background check
- Explanation letters for any recent credit events, if requested
Most business-purpose lenders review credit for each person who will personally guarantee the loan, typically anyone with a meaningful ownership stake in the borrowing entity.
2. Entity Documents
Investment property loans are usually made to an LLC or corporation rather than an individual. Be ready to provide:
- Articles of organization or incorporation
- Operating agreement (or bylaws) showing ownership percentages
- EIN confirmation letter from the IRS
- Certificate of good standing from the state
- Any amendments, plus documents for parent entities in layered structures
Make sure the entity name on the purchase contract matches the borrowing entity, or plan for an assignment.
3. Proof of Funds and Liquidity
- The two most recent months of bank or brokerage statements, all pages
- Statements for any account you plan to use for closing costs and reserves
- Source documentation for large or unusual deposits
Even on 100% financing programs, lenders typically verify liquidity for closing costs, fees, reserves and timing between draws. On Borrowers Capital’s 100/100 programs, the baseline is verified liquidity of 10% of the rehab or construction budget plus 6 months of payments, third-party fees and closing costs.
4. Experience Documentation
Experience can affect your leverage, pricing and liquidity requirements. A simple track-record worksheet should list for each completed project:
- Property address
- Purchase and sale (or refinance) dates
- Purchase price, rehab or build cost, and sale price or appraised value
- Your ownership role
Supporting documents may include settlement statements, deeds or before-and-after photos. Our Experience Worksheet collects this in one place.
5. Property and Purchase Documents
- Fully executed purchase contract, with all addenda
- Assignment agreement and fee, if applicable
- Property address, parcel information and current photos
- Payoff statement for any existing loan (for refinances)
- HOA contact information, if applicable
6. Renovation or Construction Documents
For fix-and-flip and construction loans, the plan matters as much as the property.
Fix-and-flip:
- Line-item scope of work and renovation budget
- Contractor name, license and insurance information
- Projected timeline
- Comparable sales supporting your after-repair value
Ground-up construction:
- Architectural plans and specifications
- Permit status or approved permits
- Detailed hard- and soft-cost budget with contingency
- Draw schedule tied to construction phases
- Builder or general contractor resume and license
- Survey and site information, including utilities and zoning
Our Rehab / Construction Budget Template can help you organize your numbers.
7. Rental Property Documents (DSCR Loans)
- Current lease agreements
- Rent roll for properties with multiple units
- Proof of rent receipts, if requested
- Property tax bill and HOA dues
- Market rent support for vacant units
See DSCR Loan Requirements for how lenders evaluate rental income.
8. Insurance
- Hazard or dwelling insurance quote naming the lender as mortgagee
- Builder’s risk coverage for construction and heavy rehab projects
- Flood insurance if the property is in a flood zone
- Liability coverage, as required
Insurance is a frequent last-minute delay. Request quotes early and share your lender’s mortgagee clause with your agent as soon as you have it.
9. Closing and Title Items
Your title company or closing attorney will usually handle most of these, but it helps to have contact information ready:
- Title or closing attorney contact
- Settlement agent wire instructions (verify by phone before sending funds)
- Appraisal payment authorization
Tips for a Faster Closing
- Send complete documents. All pages of every statement, even blank ones.
- Keep names consistent. Entity names, addresses and signatures should match across documents.
- Use secure upload. Do not send IDs or bank statements by ordinary email. Use your lender’s secure portal.
- Respond quickly. Underwriting conditions are easier to clear while the file is fresh.
- Ask early. If something on this list will be hard to produce, say so up front.
Ready to Start?
Borrowers Capital clients can download blank forms and templates from our Resources page and upload documents securely through the Client Portal. Not sure what your deal will need? Estimate it with the 100% Financing Calculator or submit your scenario for a preliminary review.
Disclosure
Borrowers Capital LLC provides access to business-purpose real estate financing through correspondent and private lending channels. Program availability, leverage, pricing, fees, loan amounts and approval requirements vary by transaction and are subject to applicable lender guidelines, borrower and property eligibility, valuation, due diligence, underwriting and final approval. References to 100% financing describe the potential financing of eligible project costs and do not guarantee a zero-cash transaction or loan approval. Borrowers Capital LLC may receive compensation in connection with arranging a transaction. This article is general information and does not constitute a commitment to lend, an offer of credit, or financial, legal or tax advice.