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Prequalification Documents and Stacking Order
The minimum documents required to submit a file for a pr-qualification and to receive a Letter of Interest or Term Sheet are listed below. This information on the property and borrower(s) is required in order to size the loan and offer the borrower program options.
Brokers; please do not order an appraisal. CoFedBank will order the appraisal and process the loan internally after the file has been prequalified and a Letter of Interest or Term Sheet has issued and accepted by the borrower. The prequal information below along with preliminary title are required before the appraisal can be ordered. After the loan has been prequalified the rate can be locked for 60 days.
Please Mail or E-mail all documents at one time. If an item is missing and cannot be obtained we need a letter of explanation telling us why it cannot be obtained.
NO fax or E-fax submissions
Please send a complete Pre-Qualification package including Borrower, Property and Broker information listed below on this page to:
CoFedBank Commercial Lending
Prequalification Department
10475 Park Meadows Drive, Suite 600
Lone Tree, Colorado 80124
Or, Scan and E-mail to: info@aptlending.com
Phone: 303-771-1031
BORROWER(S) INFORMATION:
1. A completed 1003 Application. Married couples can be combined on one application as borrower and co-borrower. Non-married borrowers require separate 1003 Applications. Set your printer for letter size.
2. If borrower is financing his owner occupied building we require the last two years of tax returns both personal and business.
PROPERTY INFORMATION:
3. Sales Contract and Escrow Instructions if applicable.
4. Preliminary Title on Subject Property Ordered by Broker. Preliminary Title is required to order the appraisal. We condition for title work if it is not included in the pre-qualification package.
Mortgagee and Insurance Clause reads as follows:
Colorado Federal Savings Bank,
it's successors and/or assigns as their interests may appear
10475 Park Meadows Drive, Suite 600
Lone Tree, Colorado 80124
5. Five (5) color photos of the property. (N, S, E, W and one street) You can e-mail to info@aptlending.com
6. Building Rent Roll. Set your printer for letter size.
7. All leases or rental agreements for the subject property.
Note: *Include two (2) copies of all leases or rental agreements.
8. Subject Property Operating History and Year To Date Operating Statements:
A. 2005 (1/1/05 - 12/31/05) Operating Statement signed by the current owners as true and correct or Schedule E from their personal tax returns. Refinances require schedule E's from borrower's personal tax returns.
B. 2006 (1/1/06 - 12/31/06) Operating Statement signed by the current owners as true and correct or Schedule E from their personal tax returns. Refinances require schedule E's from borrower's personal tax returns.
C. 2007 (Year To Date) Income and Expense Statement signed by the current owners as true and correct.
BROKER INFORMATION:
9. Broker Registration Form Set your printer for letter size.
10. Broker/LO Agreement Set your printer for legal size.
All downloadable files
BORROWER(S) INFORMATION:
PROPERTY INFORMATION:
BROKER INFORMATION:
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