After Approval Process
- An AAF loan administrator will contact you via phone and/or e-mail to communicate the Lender’s approval decision.
- The AAF loan administrator will send you a Pre-Closing Checklist to be completed.
Samples of the required documents listed in the Pre-Closing Checklist:
- Purchase Agreement
- Bill of Sale
- If registering the aircraft in a Business Name or LLC Name, Articles of Incorporation or other appropriate organizational documents will be required.
- When the purchase agreement, appropriate organizational documents and Bill of Sale have been received, the Loan Administrator will order a title search on the aircraft.
- Once a clear title search has been verified and received, the Loan Administrator will create your loan documents and overnight them to you to the address on the application.
- You will sign and notarize the loan documents and send them back to us via the pre-paid envelope.
- You need to provide proof of insurance information that meet lender requirements (Lender requirements will be provided.)
- You/the seller will need to provide wiring instructions.
- As soon as the AAF loan administrator has received all of the above documents and the documents are executed properly, the loan package will be sent to Funding/Escrow.
All financial information may be emailed to [email protected] or faxed to: 877-314-6448. Please call 1-800-62-PLANE to speak to a loan specialist if you have questions.