Non-Recourse Required Documentation

  • Completed Loan Application
  • Purchase/sales agreement
  • Current IRA or 401K Solo statements (all pages)
  • Instruction form from Custodian / Administrator for purchase of real estate, if required
  • Copy of picture ID
  • Most recent W-2 or 1st page of tax return for IRA owner (signed)
  • If property is currently leased, a copy of the lease agreement
  • Current rent roll
  • Insurance agent name and phone number
  • Real estate agent name and phone number
  • Title Company name and phone number
  • Copy of previous appraisal, if applicable
  • If an LLC will own the property, include the following data:
  1.     Name of LLC
  2.     Operating Agreement
  3.     Articles of Organization
  4.     Resolution authorizing the loan transaction
  5.     Tax ID number
  • Appraisal fee of $595 made payable to First National Bank of America (to be submitted with application)

Return All Documents to: First National Bank of America attn: Scott Raymond 4660 Kalamazoo Ave. SE Grand Rapids, MI  49508

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