Documentation needed for commercial loan versus conventional for rental

[Kimberly H.]

***Note-This is not a request for a loan. Do not respond asking me to contact you to provide me a loan-I don't want this post removed***

Right now I am in documentation hell putting all the docs needed for my 5th financed property. I am organized, but putting together the following in electronic format for 7 properties to get a Fannie Mae backed loan is just out of control: proof of being current on property taxes, property insurance, mortgage statements, and leases for 7 properties. Copy of HUD and wire transfer request for subject property. 2 forms if ID for each of us, 3 yrs worth of W2s because we filed and extension this yr, paystubs, 2 months worth of bank statements for a zillion accounts, etc.

Do commercial loans require all this???

***Note-This is not a request for a loan. Do not respond asking me to contact you to provide me a loan-I don't want this post removed***