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Pre-Qualification Package
NOTE: If you would prefer that we fill your documents out via the telephone and/or email which is our Free Personal Care Option just let us know. Your Loan Coordinator will be happy to work with you on your schedule. The list below is the basic information we will need in order to prepare a conditional commitment letter and register your project so we can lock your rate for 60 days.
Please contact us to arrange an appointment for our Free Personal Care Option.
Contact: Mike Kidwell
Direct: 303-708-0429
Toll Free: 866-395-1031
email: info@aptrealtor.com
Mailing Address:
Pre-Qualification Department
Apartment Lending Corporation
10475 Park Meadows Drive, Suite 600
Lone Tree, Colorado 80124
Phone: 303-771-1031 or Toll Free 866-395-1031
e-mail: info@aptrealtor.com
LOAN APPLICATION PACKAGE
BORROWER(S) INFORMATION:
1. A completed 1003 Application. Married couples can be put on one application as borrower and co-borrower but individual applicants need to be on their own application as borrower. Please do not combine individual borrowers on one application as borrower and co-borrower. Set your printer for legal size.
2. Exhibit 8 Schedule of Real Estate Owned This is required and asks more detailed information about the borrower's properties than what is on the 1003 application. Set your printer for legal size.
3. Last two years of all (personal and business) tax returns from borrower(s). Please have borrower(s) sign over their original signatures they submitted to the IRS on these documents in blue ink before they are forwarded to us.
4. 4506T tax form completed and signed Download. Set your printer for letter size.
PROPERTY INFORMATION:
5. Sales Contract and Escrow Instructions if applicable. Please make sure the contract shows a minimum of 45 days to close from the date we receive the package. 60 days to close is a more realistic number on the Sales Contract to close the loan. We have closed faster than 60 days but, we never know what the appraisal will come up with or other obstacles we can't foresee that we would need additional time to handle.
6. Preliminary Title on the Property. Refinance or Purchase. If Title hasn’t been opened yet we prefer either First American Title or Chicago Title. Mortgagees Clause should read as follows:
Apartment Lending Corporation,
it's successors and/or assigns as their interests may appear
10475 Park Meadows Drive, Suite 600
Lone Tree, Colorado 80124
7. Five (5) color photos of the property. (N, S, E, W and one street) You can e-mail to info@aptrealtor.com or mail along with the other documents.
8. Building rent roll. Exhibit 9A *Back up REQUIRED. Back up required is current owner's rent roll as back up to this form to show us where the numbers came from. Set your printer for letter size.
9. Subject Property Operating History and Year To Date Operating Statements:
1. 2005 (1/1/05 - 12/31/05) Income and Expense Statement signed by the current owners as true and correct or Schedule E from their personal tax returns.
2. 2006 (1/1/06 - 12/31/06) Income and Expense Statement signed by the current owners as true and correct or Schedule E from their personal tax returns.
3. 2007 (Year-to-date) Income and Expense Statement signed by the current owners as true and correct.
Call for an exception to this requirement, i.e. letter of explanation that property was purchased out of bankruptcy and no records are available from previous owner.
10. For Refinances ONLY Exhibit 14 Acquisition and Capital Improvements Summary if applicable. *Back up REQUIRED. Attach proof of payment for all capital improvements completed on the subject property since purchase. Set your printer for letter size.
11.
a) Property Collateral Profile Set printer for letter size paper.
 b) Seismic Map of USA Set color printer for letter size paper.
 This map is used to answer question #21 in the above.
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