Verifying Your Initial  Payment,
Closing Costs, Assets, Income

A critical step in the Commercial loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. These steps are use to determine your qualifications as a borrower. 

Initial Investment & Closing Costs

Documenting that the initial investment payment comes from regulated conventional sources and that you will have savings and/or assets over and above the initial investment payment gives the lender group confidence in your strength as a borrower and your ability to repay the loan.

Take extra care to document the sources for any monies to be used for the down payment or closing costs.

Assets

Collect information about your personal assets that add to your net worth and help to prove your credit worthiness

Most Common Assets

Stocks, bonds, mutual funds, 401(K) and retirement accounts

• Life insurance

• Personal property estimate - cars, boats, antiques, jewelry, etc.

• Other real estate or property

• Other value financial instruments

• In some instances, Income and Employment

The lender group will want to confirm your current gross income and have evidence of stable employment. Documentation requirements vary depending upon a number of factors - including the source of income (hourly, salary, salary + bonuses, salary + commission, commission, self-employed, etc.).

OAKWOOD CAPITAL FUNDING can help to make this happen for you..