Complete application (attached) including credit and background check authorization for each guarantor
Title Agent/Attorney Contact (need name, email, phone)
Point of contact for appraisal (Who to reach for scheduling? – need name, email, phone)
Purchase Contract (if applicable) – needs to be in the name of the borrowing entity
Lease Agreement (if applicable)
Condo Questionnaire (if applicable) – need to confirm that it is warrantable
Additional docs that we will eventually need from the borrower to ready the file for underwriting:
Photo ID
Most recent bank statement (2 months, to be within 45 days of closing) – include Letter of Explanation for any deposits non payroll.
Operating Agreement, EIN Letter, and Articles of Organization for borrowing entity.
Tax Bill
Property Manager Questionnaire
2 most recent months of rent verification (e.g., copy of checks)
Payoff and 6-month payment history for existing lien (only if refi)
ACH Form/Voided Check
Insurance binder and invoice or paid receipt. Rent Loss Coverage for 6 months. Dwelling Coverage of LOAN AMOUNT or greater. Insurance needs to be under the BUSINESS NAME - no exceptions. hard money direct lenders hard money loans for investment property lenders
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