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Get your application started today!

Get your application started today!

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. 



Application Requirements

 

 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