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      State Specific Documents

      GoDocs includes state specific documents with business purpose loans.

      Alabama    

      State-Specific Fair Lending Notice (ALABAMA FAIR HOUSING LAW) - The Alabama Fair Housing Law Notice in regards to Code of Alabama § 24-8-6 document is a legal document that informs buyers, sellers, landlords, tenants, and other participants in commercial real estate transactions of their rights and obligations under the Alabama Fair Housing Law. The law prohibits discrimination in housing on the basis of race, color, religion, sex, familial status, handicap, and national origin. 

      California    

      1. State-Specific Fair Lending Notice (Housing Financial Discrimination Act of 1977 Fair Lending Notice) - The California Housing Financial Discrimination Act of 1977 (CHFDA) is a law that prohibits discrimination in the provision of housing and financial assistance on the basis of race, color, religion, sex, marital status, national origin, ancestry, familial status, source of income, disability, veteran or military status, or genetic information. The CHFDA Fair Lending Notice is a document that must be provided to all applicants for housing and financial assistance in California. The notice informs applicants of their rights under the CHFDA and provides information on how to file a complaint of discrimination. The notice is tied to the purpose of the Loan and the property type. It would be included when (i) there is a purchase or refinance of a 1-4 unit residential property, (ii) which is occupied by the owner, and (iii) the purpose of the Loan proceeds is improvement of said property. It is GoDocs' position to include this Notice in its InvestorDocs packages given the "property type" which serves as security for the Loan is residential in nature. Its inclusion is out of an abundance of caution given the "property type."
      2. Hazard Insurance Disclosure – This document discloses to borrowers of commercial real estate in California the requirements for hazard insurance. Hazard insurance is a type of insurance that covers damage to property caused by natural disasters, such as hurricanes, tornadoes, and floods. California Civil Code Section 2955.5 prohibits lenders from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property. The Hazard Insurance Disclosure Notice must be provided to all borrowers of commercial real estate in California. It is typically provided by the lender involved in the transaction.
      3. California Prepayment Waiver (if prepayment included in transaction) - A California commercial real estate prepayment premium waiver (waiver of California Civil Code Section 2954.10) document is a legal document that waives the right of a lender to charge a prepayment premium to a borrower who prepays a commercial real estate loan in full. California Civil Code Section 2954.10 allows lenders to charge prepayment premiums on commercial real estate loans, but only if the borrower has expressly agreed to the prepayment premium in writing. 

      Florida    

      1. Florida Insurance and Anti-Coercion Statement [user selectable]- Florida Insurance and Anti-Coercion Statement document is a legal document that informs borrowers of their rights and obligations under Florida law regarding insurance and anti-coercion. Florida law prohibits lenders from requiring borrowers to purchase insurance coverage from a particular insurance agent or company. Borrowers have the right to choose their own insurance agent or company, provided that the company meets the lender's underwriting requirements. Florida law also prohibits lenders from coercing borrowers into purchasing insurance coverage from a particular insurance agent or company. Coercion can include threats to deny or delay the loan, or to charge higher interest rates or fees, if the borrower does not purchase insurance from the lender's preferred provider.
      2. Affidavit for Individuals with Foreign Interests/Affidavit for an Entity with Foreign Interests (ii) or the Notice: Florida Now Restricts the Sale of Property to Foreign Principals [user selectable]. These forms are stand-alone documents and may be ordered to be used or discarded in the loan package at the lender's discretion.
      3. Florida Affidavit Entity [user selectable] - Affidavit for Individuals with Foreign Interests or an Affidavit for an Entity with Foreign Interests – Buyers of any real property that is on or within 10 miles of any military installation or critical infrastructure facility in the state of Florida must provide an affidavit asserting that he/she/it/they are not Foreign Principals barred from purchasing this type of property in Florida. All buyers must sign this affidavit at closing if the property is within 10 miles of a military installation or critical infrastructure facility. The selections in the GoDocs system include the options to either include the Affidavit for Individuals with Foreign Interests or an Affidavit for an Entity with Foreign Interests in Loan Document package, to include the Notice: Florida Now Restricts the Sale of Property to Foreign Principals in Loan Document package, or to NOT include either the Affidavit for Individuals with Foreign Interests,/Affidavit for an Entity with Foreign Interests or the Notice: Florida Now Restricts the Sale of Property to Foreign Principals documents in Loan Document package. 

      Georgia    

      1. State-Specific Fair Lending Notice - Informs borrowers of their rights under Georgia law regarding credit or loan discrimination. Georgia law prohibits lenders from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age, or handicap. This means that lenders cannot deny or delay loans, charge higher interest rates, or impose different terms or conditions on loans based on these factors.
      2. State-Specific Indemnity Agreement – Document that states that the Borrower agrees to hold the Lender harmless from any claims from false declarations of the Borrower in terms of the business purpose aspect of the loan. 

      Hawaii    

      1. State-Specific Fair Lending Notice - Informs buyers, sellers, landlords, tenants, and other participants in commercial real estate transactions of their rights and obligations under Hawaii law regarding discrimination in real property transactions. Chapter 515 of the Hawaii Revised Statutes prohibits discrimination in real property transactions on the basis of race, color, religion, sex, marital status, age, ancestry, familial status, national origin, disability, or sexual orientation. This means that no one can be denied housing, charged different prices for housing, or treated differently in a housing transaction because of any of these protected characteristics.
      2. State-Specific Hazard Insurance Disclosure – Informs a borrower that lenders are prohibited from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property. 

      Indiana    

      State-Specific Hazard Insurance Disclosure – Informs a borrower that lenders are prohibited from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property. 

      Kentucky    

      State-Specific Fair Lending Notice - The Kentucky Civil Rights Act (KRS 344.370) prohibits discrimination in employment, housing, public accommodations, and education on the basis of race, color, religion, national origin, sex, age, sexual orientation, and marital status. In the context of commercial real estate, the Kentucky Civil Rights Act prohibits discrimination in the sale, rental, and financing of commercial property. This means that commercial property owners, landlords, and lenders cannot deny, delay, or refuse to sell, rent, or finance commercial property to someone because of their race, color, religion, national origin, sex, age, sexual orientation, or marital status. 

      Maryland    

      State-Specific Hazard Insurance Disclosure – Informs a borrower that lenders are prohibited from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property. 

      Massachusetts    

      Property Certificate - The certificate discloses the following information from the Borrower to the Lender: (a) Whether the property contains urea formaldehyde foam insulation (UFFI); (b) Whether the property has been tested for lead paint, (c) Whether the property has working smoke detectors. The certificate also includes an indemnification clause, which protects the seller from liability in the event that the buyer discovers UFFI, lead paint, or non-working smoke detectors after the sale has closed. 

      New Hampshire    

      Statement of Finance Charges - Discloses to borrowers of commercial real estate in New Hampshire the finance charges associated with their loan. Finance charges include interest, fees, and other costs associated with the loan. 

      New Jersey    

      1. State-Specific Hazard Insurance Disclosure – Informs a borrower that lenders are prohibited from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property.
      2. Attorney Disclosure - document that informs borrowers of commercial real estate in New Jersey of their right to choose their own attorney. New Jersey law prohibits lenders from requiring borrowers to use the lender's attorney in commercial real estate transactions. Borrowers have the right to choose their own attorney to represent their interests in the transaction. 

      Ohio    

      1. State-Specific Hazard Insurance Disclosure – Informs a borrower that lenders are prohibited from requiring borrowers to purchase hazard insurance coverage that exceeds the replacement value of the property.
      2. State-Specific Equal Credit/Consumer Notice - Document that informs borrowers of commercial real estate in Ohio of their rights under the federal Equal Credit Opportunity Act (ECOA). The ECOA prohibits creditors from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, and age. 

      Oregon    

      State-Specific Hazard Insurance Disclosure - This Hazard Insurance Disclosure is informing the borrower that the lender may purchase insurance at the borrower's expense if the borrower fails to provide evidence of the required insurance coverage. The lender may purchase this insurance to protect their interest, but it may not protect the borrower's interest. The borrower is responsible for the cost of any insurance purchased by the lender, and this cost may be added to the borrower's contract or loan balance. The borrower may later cancel this coverage by providing evidence that they have obtained property coverage elsewhere. 

      South Carolina    

      State-Specific Hazard Insurance Disclosure - South Carolina Code Ann. § 29-3-70 limits the amount of hazard insurance that a lender can require a borrower to purchase. The statute states that a lender cannot require a borrower to purchase hazard insurance coverage in excess of the replacement cost of the property. 

      Texas    

      1. State-Specific Equal Credit/Consumer Notice - Document that informs borrowers of commercial real estate in Texas of their rights under the federal Equal Credit Opportunity Act (ECOA) and the Texas Finance Code. The ECOA prohibits creditors from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age.
      2. Texas Notice of Penalties - Document that informs borrowers of commercial real estate in Texas of the penalties for making false or misleading written statements in connection with a loan application. 

      Utah    

      State-Specific Fair Lending Notice - Informs borrowers of commercial real estate in Utah of the following: (a) The Utah Fair Housing Act prohibits discrimination in housing on the basis of race, color, religion, sex, national origin, disability, familial status, sexual orientation, or gender identity. (b) The Utah Fair Housing Act applies to all types of housing, including commercial real estate. (c) If a borrower believes that they have been discriminated against in a commercial real estate transaction, they may file a complaint with the Utah Antidiscrimination and Labor Division. 

      Virginia    

      State-Specific Hazard Insurance Disclosure - Code of Virginia § 6.2-412 notice document Informs borrowers of commercial real estate in Virginia of the following: (a) The lender cannot require the borrower to purchase hazard insurance coverage in excess of the replacement value of the property. (b) The borrower is responsible for obtaining and maintaining hazard insurance coverage on the property. (c) The hazard insurance policy must name the lender as a mortgagee. (d) The borrower must provide the lender with a copy of the hazard insurance policy.