Submission Forms | Moorestown, NJ | LNB Commercial Capital

LOAN APPLICATION

LOAN APPLICATION

THIS APPLICATION IS DESIGNED TO BE COMPLETED BY THE APPLICANT(S) AS "BORROWER" OR "CO-BORROWER," AS APPLICABLE. CO-BORROWER INFORMATION MUST BE PROVIDED WHEN THE INCOME OR ASSETS OF A PERSON OTHER THAN THE BORROWER (INCLUDING THE BORROWER'S SPOUSE) WILL BE USED AS A BASIS FOR LOAN QUALIFICATION OR THE INCOME OR ASSETS OF THE BORROWER'S SPOUSE OR OTHER PERSON WHO HAS COMMUNITY PROPERTY RIGHTS PURSUANT TO STATE LAW WILL NOT BE USED AS A BASIS

THIS APPLICATION IS DESIGNED TO BE COMPLETED BY THE APPLICANT(S) AS "BORROWER" OR "CO-BORROWER," AS APPLICABLE. CO-BORROWER INFORMATION MUST BE PROVIDED WHEN THE INCOME OR ASSETS OF A PERSON OTHER THAN THE BORROWER (INCLUDING THE BORROWER'S SPOUSE) WILL BE USED AS A BASIS FOR LOAN QUALIFICATION OR THE INCOME OR ASSETS OF THE BORROWER'S SPOUSE OR OTHER PERSON WHO HAS COMMUNITY PROPERTY RIGHTS PURSUANT TO STATE LAW WILL NOT BE USED AS A BASIS

for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relaying on other property located in a community property state as a basis for repayment of this loan.

FOR LOAN QUALIFICATION, BUT HIS OR HER LIABILITIES MUST BE CONSIDERED BECAUSE THE SPOUSE OR OTHER PERSON HAS COMMUNITY PROPERTY RIGHTS PURSUANT TO APPLICABLE LAW AND BORROWER RESIDES IN A COMMUNITY PROPERTY STATE, THE SECURITY PROPERTY IS LOCATED IN A COMMUNITY PROPERTY STATE, OR THE BORROWER IS RELAYING ON OTHER PROPERTY LOCATED IN A COMMUNITY PROPERTY STATE AS A BASIS FOR REPAYMENT OF THIS LOAN.

I. LOAN PROPOSAL AND PROPERTY INFORMATION

I. LOAN PROPOSAL AND PROPERTY INFORMATION

COMPANY NAME

SUBJECT PROPERTY ADDRESS (STREET, CITY, STATE & ZIP)

NO. OF UNITS

YEAR BUILT

PROPERTY TYPE

RESIDENTIAL: 1 - 4 UNITS UNITS

RESIDENTIAL: CONDO

COMMERCIAL: MULTI-FAMILY (5+ UNITS) / APT. COMPLEX

COMMERCIAL: MIXED-USE

COMMERCIAL: OFFICE

COMMERCIAL: OTHER (PLEASE EXPLAIN)

CURRENT MARKET VALUE

AMOUNT OF LOAN REQUEST

LOAN TERM (12 MOS, 18 MOS, 24 MOS)

PURPOSE FOR THE LOAN FUNDS

PURCHASE PRICE

PURCHASE DATE (MM/DD/YY)

RENOVATION COSTS

ANTICIPATED AFTER REPAIR VALUE

CASH RESERVES AVAILABLE

FUNDS AVAILABLE FOR THIS PROJECT

PROJECT SUMMARY

EXIT STRATEGY

TARGET CLOSING DATE

REASON FOR TARGET CLOSING DATE

II. BORROWER INFORMATION

II. BORROWER INFORMATION

BORROWER

CO-BORROWER

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FULL LEGAL NAME (INCLUDE JR. OR SR. IF APPLICABLE)

DOB (MM/DD/YYYY)

CREDIT SCORE RANGE

HOME PHONE

OFFICE PHONE

CELL PHONE

EMAIL ADDRESS

MARITAL STATUS

PRESENT ADDRESS (STREET, CITY, STATE, ZIP)

MAILING ADDRESS (IF DIFFERENT)

III. EMPLOYMENT INFORMATION

III. EMPLOYMENT INFORMATION

BORROWER

CO-BORROWER

NAME & ADDRESS OF EMPLOYER (OR NOTE IF SELF EMPLOYED)

BUSINESS PHONE

IV. REAL ESTATE

IV. REAL ESTATE

LIST ALL PROPERTY OWNED

BORROWER

CO-BORROWER

1 ADDRESS

OWNERSHIP

MORTGAGE AMOUNT OWED

PRESENT MARKET VALUE

DESCRIPTION

2 ADDRESS

OWNERSHIP

MORTGAGE AMOUNT OWED

PRESENT MARKET VALUE

DESCRIPTION

3 ADDRESS

OWNERSHIP

MORTGAGE AMOUNT OWED

PRESENT MARKET VALUE

DESCRIPTION

4 ADDRESS

OWNERSHIP

MORTGAGE AMOUNT OWED

PRESENT MARKET VALUE

DESCRIPTION

ATTACH ADDITIONAL PAGES AS NEEDED

V. INCOME AND ASSETS

V. INCOME AND ASSETS

BORROWER AND CO-BORROWER (IF APPLICABLE) MUST PROVIDE COPIES OF FEDERAL INCOME TAX RETURNS FOR THE PAST TWO YEARS, AS WELL AS AUTHORIZE THE LENDER TO OBTAIN TAX TRANSCRIPTS DIRECTLY FROM THE IRS (FORM 4506-T).

BORROWER AND CO-BORROWER (IF APPLICABLE) MUST PROVIDE COPIES OF FEDERAL INCOME TAX RETURNS FOR THE PAST TWO YEARS, AS WELL

AS AUTHORIZE THE LENDER TO OBTAIN TAX TRANSCRIPTS DIRECTLY FROM THE IRS (FORM 4506-T).

PROJECTED GROSS INCOME

ADJUSTED GROSS INCOME

2017

2016

New Field:

2015

TOTAL LIQUID ASSETS

VI. DECLARATIONS

VI. DECLARATIONS

ANSWER YES OR NO

ANSWER YES OR NO

BORROWER

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ARE THERE ANY OUTSTANDING JUDGMENTS AGAINST YOU?

HAVE YOU BEEN DECLARED BANKRUPT IN THE PAST 7 YEARS?

HAVE YOU HAD PROPERTY FORECLOSED UPON OR GIVEN TITLE OR DEED IN LIEU THEREOF IN THE LAST 7 YEARS?

ARE YOU A PARTY TO A LAWSUIT?

HAVE YOU DIRECTLY OR INDIRECTLY BEEN OBLIGATED ON ANY LOAN WHICH RESULTED IN FORECLOSURE, TRANSFER OF TITLE IN LIEU OF

ARE YOU PRESENTLY DELINQUENT OR IN DEFAULT ON ANY FEDERAL DEBT OR ANY OTHER LOAN, MORTGAGE, FINANCIAL OBLIGATION, BOND,

(IF “YES,” PLEASE PROVIDE DETAILS ON AN ATTACHED SHEET)

ARE YOU A U.S. CITIZEN?