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Get your application started today!
Get your application started today!
Application Requirements
We're dedicated to providing an efficient, transparent, clear loan process. That starts with letting you know right up front what we need to get started. It's a thorough list, so we know we have everything to give you the quick response you deserve.
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✔ Name, address, and number of units in association
✔ Copy of minutes from last three board meetings including minutes where subject loan from Wintrust Community Advantage, and special assessment for repayment (if applicable), were authorized
✔ Copy of fiscal year-end financial statements for the last two years
✔ Copy of association tax returns for the last year
✔ Copy of current budget and year-to-date financial statements
✔ Copy of current assessment delinquency report
✔ List of owners, tenants, addresses and assessment per unit
✔ Copy of bylaws and declarations inclusive of all amendments
✔ Dollar amount requested, detailed description of project and cost estimates, and copies of bids and/or executed contracts
✔ Copy of reserve study or engineering report, if available
✔ Current owner occupancy ratio or number of units that are non-owner occupied
✔ Names, addresses, and phone numbers of attorney, accountant, insurance agent, and current association board members
Co-operative Loan Application Requirements
If your organization is a co-operative, in addition to the list above, we'll need:
✔ Copy of proprietary lease and by-laws inclusive of all subsequent amendments
✔ Satisfactory receipt and review of bank approved appraisal (if applicable), title, flood and environmental assessment
✔ Copy of resolution of approval of at least 2/3 of the capital stock holders for the subject mortgage
