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Franklin Park Estates

 

Typical Credit Underwriting Documents - subject to change during underwriting

  • The following items are needed to begin the underwriting of your development. Please understand that the underwriting process may result in additional items being requested as this process moves forward: 
  • Identity of Applicant entity, Principal, General Contractor, and Guarantor. Ownership structure (i.e. identify principals and officers, general and limited partners and their respective percentages of ownership of the all above mentioned entities) 
  • Organizational chart defining Applicant entity and percentage ownership by general and limited partners (current and new) 
  • Schedule detailing any real estate owned by Applicant entity 
  • Copy of documentation creating the Applicant entity (i.e. partnership agreement, certificate of limited partnership, articles of incorporation, certificate of good standing and any other documents for the Applicant or partners) 
  • Resume of the Applicant entity, Principal, General Contractor, and Guarantor related to Single Family Construction.
  • Signed credit authorization forms completed by the Applicant entity, Principal, General Contractor, and Guarantor (form provided by the credit underwriter) 
  • Completion by Applicant and Principals of the Certification of Ownership form (provided by the underwriter) 
  • Completion of Deposit and Mortgage Verification forms by Applicant entity, Principal, General Contractor, and Guarantor along with banking references, including account numbers, addresses, contact names and phone numbers (forms provided by the credit underwriter) 
  • Financial Information on Applicant, Principal, General Partner or Managing Member, and General Contractor: last two years of audited financial statements or un-audited financial statements within 90 days of submission to the Board & 2 prior years’ tax returns 
  • Completed Sources and Uses of Funds. Including a construction cost breakdown. 
  • GC Contract 
  • Copy of current valid Florida Contractor’s License 
  • Construction Draw Schedule, Architects Contract, Engineering Contract Performance & Payment Bonds, Survey and Insurance 
  • Plans
Plan and Cost Review to be ordered by the underwriter Supporting Documents: