Whether you are purchasing an investment property, acquiring an owner-occupied building, or refinancing existing real estate, lenders require detailed information about the property’s financial performance and transaction terms.
For income-producing real estate, you should be prepared to provide:
- A current rent roll and operating expenses
- Copies of active leases
- A signed Purchase and Sale Agreement (if applicable)
A rent roll lists all tenants, lease terms, rental rates, and occupancy status. This helps lenders evaluate income stability and diversification. Operating expense information provides insight into the property’s net operating income, which is a key factor in determining loan size and structure.
Leases allow lenders to verify rental terms, escalation clauses, and expiration dates. If you are purchasing a property, the Purchase and Sale Agreement outlines the agreed-upon price and transaction details, forming the basis for underwriting.
For owner-occupied real estate, where your business will occupy a majority of the space, lenders will also evaluate the financial strength of the operating business. In addition to property-level information, you should be prepared to provide:
- Business financial statements (typically 2–3 years)
- Business tax returns
- A current profit and loss statement and balance sheet
- Personal financial statements and tax returns for guarantors
If you are pursuing SBA (Small Business Administration) financing, documentation requirements may be more extensive. SBA loans are designed to support small businesses in acquiring or refinancing owner-occupied real estate, and they often require:
- A detailed business plan
- Debt schedules
- Organizational documents
- Projections, particularly for acquisitions or startups
Because SBA lending involves both the lender and SBA guidelines, providing complete and well-organized documentation upfront is especially important to keep the process moving efficiently.
Providing accurate and comprehensive information early in any transaction—whether investment, owner-occupied, or SBA—can help streamline underwriting and avoid delays. Real estate financing often involves multiple moving parts, so preparation is essential.
If you are considering a real estate purchase or refinance in Connecticut, the Union Savings Bank lending team can guide you through the documentation requirements and help structure financing that aligns with your investment goals. Learn more.
All loans and lines are subject to credit approval.
