HOW TO SEND US A LOAN REQUEST
FOR A LOAN QUOTE ONLY (FASTEST):
- Borrower name and address.
- Primary Guarantor name and address.
- Guarantor mid-Fico score.
- Broker name, address, phone, and email.
- Loan amount.
- Loan term (months).
- LTV at loan request.
- Property type and detail.
- Net Operating Income.
- If the borrower wants a lower payrate than Note rate.
FOR A CONDITIONAL APPROVAL (LETTER OF INTEREST):
- Download the Loan Request Workbook and Complete the “Questions* Sheet.
- Property Documents:
- 2 most recent years and YTD P&Ls (please proved Schedule E’s or ownership entity tax returns where available).
- Current Rent Roll or Lease Summary.
- Current Tax Bill (if a refinance).
- Current Note and Mortgage Statement (if a refinance).
- Current or old BPO, Appraisal, and Phase 1, if available.
- Rehabilitation Budget and Marketing Plan (if applicable).
- Credit Report – all 3 bureaus and credit scores.
- Current Liquidity Statements.
- Last 2 years of tax returns, all pages.
- If an Owner-User property:
- 2 years of business tax returns, all schedules.
- Most recent YE and YTD P&Ls and a Balance Sheet.
- Purchase & Sale Agreement
- Escrow Instructions
- Preliminary Title Report
- Offering Memorandum or Listing Sheet.
FOR A COMMITMENT LETTER, ALL OF THE ABOVE PLUS:
- Receipt of acceptable Valuation Report (BPO or Appraisal) and Phase 1 in DRC’s name, if required.
- Receipt of Borrowing Entity Documents:
- Articles of Incorporation or Organization.
- By-Laws or Operating Agreement and all Amendments.
- Certificate of Good Standing.
- Last 2 Years of Entity Tax Returns (if previously existing) and a YTD P&L, certified.
*These forms are available in the Loan Request Workbook if you don’t have them readily available.