Commercial Mortgage Document Requirements

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Different documents may be required based on your type of property and business. The speed with which we can process your application will depend on the completeness of your documentation. We can provide assistant in obtaining some of the documents noted below.


Commercial Appraisal: This should be recent, and from a recognized appraisal company. Commercial appraisal reports will usually need to be from an appraiser with an AACI designation.

Environmental Report: A phase I report is ideal. If issues are present, a lender may require subsequent reports.

Geotechnical Report: May be required where land is involved.

Quantitative Survey: In the case of a construction loan, the lender will likely require a quantitative survey to determine the cost to complete the project at every draw advance.

Land Title Document: A current copy of the land title will likely be required by a lender.

Personal Net Worth Statement: You can use your application, but some lenders may require a statement on their own form.

Financial Statements of the Borrower or Guarantor Company: The lender will usually request the last two years’ financial statements for companies that are the borrower or the guarantor for the loan.

Operating Statement: In the case of commercial or mixed-use properties, the lender may request the operating statement of the building to determine current costs.

Commercial or Personal Credit Bureau: The lender may require corporate credit bureaus, or personal credit bureaus from the borrower.

Tax Statement: This is from the municipality in which the property is located. It will contain critical information about the property.

Real Property Report: This may be required, as it can identify issues with adjacent properties.

List of Professionals Involved in the Transaction: This list will include realtors, appraisers, lawyers, etc.

Lease(s) (if applicable): In the case of mortgage profiles that involve properties with cash flow, the lender will need to review a lease to identify the strength of the tenant and the amount of time remaining on the lease.

Purchase and Sale Contract (if applicable): This will be required in the case of a purchase, or if the exit strategy is from a firm sale.

Building Report (if applicable): The lender may require a building report to assess the effective age of the building.

Existing Mortgage Statement: In the case of a refinance, the lender will need to view the state of the existing financing.

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