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Multifamily Lender Document Checklist
Multi-Family USA · Printable checklist
Sponsorship and guarantor package
- Guarantor personal financial statements (dated within 90 days).
- Guarantor schedules of real estate owned with debt and maturity dates.
- Guarantor liquidity verification (bank or brokerage statements).
- Guarantor resume or track-record summary for multifamily experience.
- Background and credit authorization forms required by the lender.
- Identification and entity authority documents for each signing guarantor.
Borrowing entity and organizational documents
- Certificate of formation and operating agreement for the borrowing entity.
- Organizational chart showing ownership from guarantor(s) to borrowing entity.
- Certificate of good standing for each entity in the borrowing structure.
- Operating agreement amendments affecting manager authority or transfers.
- Certificate of incumbency or manager resolutions authorizing the loan.
- EIN confirmation and registered agent details for each entity.
Property operating and financial package
- Current rent roll aligned to trailing operating statement period.
- Trailing 12-month operating statement and year-to-date financials.
- NOI normalization memo with support for each adjustment.
- Lease audit summary for material leases and delinquency trends.
- Accounts receivable and bad-debt detail if collections are elevated.
- Utility, payroll, insurance, and tax expense support where trends are unusual.
Business plan and underwriting support
- Sources and uses summary with equity commitment and closing cost detail.
- In-place and stabilized NOI views with explicit bridge assumptions.
- Debt-sizing summary across DSCR, debt yield, and leverage constraints.
- Capex scope, budget, timeline, and contractor quotes for value-add strategies.
- Lease-up or stabilization timeline with milestone-based occupancy targets.
- Refinance or exit thesis for bridge and transitional executions.
Third-party reports (as applicable)
- Property condition assessment (PCA) and Phase I environmental.
- Appraisal engagement package with property data sheet and rent comps.
- Seismic or zoning reports when required by market or lender policy.
- Survey, title commitment, and exception review materials for purchase deals.
- Existing loan payoff statement and reserve reconciliation for refinances.