Loan Checklist
Table of Contents
The Loan Arranger
Is a mortgage broker arranging this loan?
Is there a plan to sell this loan to anyone?
Will the payments be made to a business you represent or to one or more individuals?
Are any administrative or court proceedings pending against you or the company you represent?
Payments
Is there a charge fee for arranging this loan?
Is there a 'loan origination' fee?
Is there a charge fee for preparing documents or underwriting?
Is there an extra charge for credit reports?
Is there a broker's fee?
Terms of the Loan
Is there a land contract, a lease, or a deed to be signed?
Is there a requirment to get a co-signer to get this loan?
Is there an interest rate of more than 3 points above the prime rate on this loan?
Is there a 'line of credit' or similar unsecured loan?
Is there a balloon payment at the end of this loan?
Will the amount of monthly payment be enough to make the outstanding balance go down each month?
Is there a penalty if for paying off the loan early?
Is there a mandatory arbitration clause in this loan?
Will this loan turn some of unsecured debt into secured debt?
Tips
Check if you are required to sign and give another person a power of attorney.
Check if any of creditors be will be paid from the proceeds of the loan.
Check if income other than disclosed will be considered for eligibility purposes.
Do not sign any forms on which the blanks have not all been filled in.
Do not sign any forms that haven't been explained.
Do not sign any forms that you haven't got the chance to read.
Download or Print this Loan Checklist
Get a printable version of this checklist in your preferred format: PDF, Word, Excel, or print directly from your browser.
Who it's for
This Loan Checklist is for teams that want consistent execution, less rework, and clear ownership.
- Standardize quality - run the same Loan steps every time, regardless of who executes
- Save time - reuse a proven Loan workflow instead of rebuilding processes from scratch
- Improve accountability - assign owners and see what's done vs. what's pending
- Onboard faster - use the Loan checklist as the SOP and training guide
- Coordinate across roles - handoffs are clear and everyone works from the same source of truth
How to use it
How to use this Loan Checklist:
- Start by saving it - save as a Template if you'll reuse it, or as a Checklist if it's a one-off project.
- Customize it once for your workflow - remove what doesn't apply and add your team-specific steps.
- Assign ownership and execute - set owners/due dates where needed and track completion as work happens.
- Reuse without rebuilding - when Loan comes up again, start from your saved version and run it with clear ownership.