Updated . Educational only — not tax, legal, or lending advice. Confirm figures with your CPA, the state revenue department, and a lender before you close.
The Document Checklist Behind an Aircraft Loan Pre-Approval
Pre-approval is a file, not a phone call. The narrative of how underwriting proceeds is on the pre-approval process guide. This page is the stack of paper that makes that process move.
Borrower file
- Government ID and, if an entity borrows, the operating agreement, articles, and a certificate of good standing.
- Two years of tax returns. Self-employed buyers are underwritten on the return, not on a profit-and-loss draft.
- Recent pay stubs or, for a business, year-to-date financials plus a debt schedule.
- Three months of bank or brokerage statements showing the down payment and reserves. Lenders want liquidity, not home equity.
- A one-page use statement: Part 91 personal, business, flight school, or Part 135. The use has to match the insurance application.
Aircraft file
- Purchase agreement or a detailed spec if you are still shopping. A commitment needs a serial number.
- Registration, airworthiness certificate, and complete airframe, engine, and prop logbooks. Missing logs are a valuation event, not a clerical annoyance.
- Damage history, Form 337s, and a list of STCs. Unapproved modifications are a reason to pause, not a footnote.
- Title and lien search through the FAA registry, plus an escrow agreement. See title, liens, and escrow.
- Insurance quote that already names the lender as loss payee.
What “pre-approved” does not mean
A pre-approval subject to appraisal, logbooks, and insurance is normal. It is not a locked rate and it is not a promise that every airplane you find will fit. Quotes expire. If the appraisal comes in under the contract, you renegotiate, add cash, or walk. The calculator is where you test that gap before you waive a deposit.
Questions buyers actually ask
How current must bank statements be?
Most aircraft files want statements from the last 60 to 90 days. A statement from last spring does not show that the down payment is still there.
Do I send original logbooks?
No. Send complete color copies through the lender’s secure channel. Originals stay with the aircraft or the escrow agent.