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This
is a example of our Commercial Loan Application. If you are
interested in letting Magnolia Financial Consultants help you find
the loan you need, please go to our executive
summary. Here you will find the starting point of the loan
application process. The executive summary form can be filled in
online or downloaded. If you would like a copy of our commercial
loan application, please download
it here.
COMMERCIAL
LOAN APPLICATION
Loan Amount Being Requested: $__________________
Purpose of Loan:
Purchase
Refinance
Cash Out Development
Other_______________________________
Borrower: ___________________________________________________
Legal Entity of Borrower:
Individual
Partnership
LLC Corporation
Federal Tax ID Number of Borrower: _________________________
Principal(s) with Over 10% Ownership:
1.
_________________________________ % of Ownership ____________
2.
_________________________________ % of Ownership ____________
3.
_________________________________ % of Ownership ____________
4.
_________________________________ % of Ownership ____________
Primary Residence Address and Social Security Numbers on All
Above Principals:
1.
______________________________ SS # _______-______-__________
2.
______________________________ SS # _______-______-__________
3.
_______________________________ SS #
_______-______-__________
4.
_______________________________ SS #
_______-______-__________
Monthly Gross Income and Personal Net Worth of Each Principal
Above
1
Monthly Income $____________ Personal Net Worth $ _____________
2
Monthly Income $____________
Personal Net Worth $ _____________
3
Monthly Income $____________
Personal Net Worth $ _____________
4
Monthly Income $____________
Personal Net Worth $ ______________
Telephone Numbers for All Above Principals
1.
Home: ___________ Office: _____________Cell Phone:
______________
2.
Home: ___________ Office: _____________Cell Phone:
______________
3.
Home: ___________ Office: _____________Cell Phone:
______________
4.
Home: ___________ Office: _____________Cell Phone:
_____________
Subject Property Address:
__________________________________________________________________
Property Description:
__________________________________________________________________
Present Value of Subject Property: $ _______________
When Was Property Purchased: Month: ______ Year:______
Purchase Price $ _____________
Present Condition of Property:
Excellent
Good Fair
Poor Vacant
Undeveloped
Any Deferred Maintenance on
Property: ________________________________________________
Are Real Estate Taxes Current,
Yes
No If No,
What Amount is Now Due $______________
Any
Unpaid Judgments, Lawsuits, Federal Tax Liens, or Bankruptcys
Against Any of the Above Principals, If So, Which One(s) and What
is Unpaid/Open
__________________________________________________________________
Explanation
for Credit Problems on any Principals:
__________________________________________________________________
Use of funds:
_________________________________________________________
Details of
Proposed Improvements and Cost:
_________________________________________________________
Existing Mortgage Balance and
Monthly Payment Now Due on Subject Property:
1st
Balance $ _______ Monthly Pmt. $_______
Up to Date:
Yes No
2ndBalance
$ ________ Monthly Pmt. $______ Up to Date:
Yes No
If
Above Mortgages Are Not Current, How Far Behind and Why,
_________________________________________________________________
Has This Loan
Request Been Previously Declined, and If So, By Whom and Why.
_________________________________________________________
Additional Comments:
_________________________________________________________
All Principals Named, Must Sign To
Below Certification
CERTIFICATION; I/WE certify that
the information provided in this application is true and correct
as of the date set forth opposite my signature.
AUTHORIZATION; All principals
signing below give their authorization to allow Diversified
Mortgage Group or any of its agents, to investigate credit,
request consumer credit reports, request company credit reports,
or whatever action they deem necessary in the underwriting of this
commercial loan request.
A fax copy of this form shall act in every respect as the
original.
1. ___________________________
_____________________
Signature
Date
2. __________________________
_____________________
Signature
Date
3. __________________________
_____________________
Signature
Date
4. ____________________________
_____________________
Signature
Date
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