Below is a list of items which will facilitate a fast response from our underwriters. Please include as many as you have available. If you do not have them all, submit what you do have for now.
- Executive Loan Summary – Include a summary of the loan scenario so our underwriters can review the data in its proper context. The summary should include why the loan is needed, how the funds will be used, how the borrower will make monthly payments and finally the borrower’s exit strategy or how they intend to repay the loan.
- Application – Please take time to accurately complete and execute this document.
- Credit Report – Include the credit report if it is available.
- Title Information – Please include the Preliminary Report if available.
- Appraisal and/or a Complete Description of the Property – An appraisal, new or old, will help us ascertain the specifics of the property and its value. If an appraisal is not available, please provide an accurate description of the subject including as much information as possible such as the square footage, parcel size, current income, unique aspects of the property, views, etc.
IMPORTANT: If you do not have an appraisal, please contact us before ordering one as we typically require the appraisal to be completed by one of our approved appraisers.
- Current Pictures – Include any recent pictures that you have of the property. Since we physically inspect each property we lend on, it is helpful to include BOTH the good and bad aspects of the property now.
- Purchase and Sale Agreement (acquisitions only) – Include the purchase agreement and any extensions or addendums.
- Income and Expense Statements (income producing properties only) – Current and historical may be needed for commercial properties.
- Lease and Rental Agreements (income producing properties only) – Fully executed agreements including any amendments or extensions.
One of our strengths is to provide you with a quick response. The information above is essential to our ability to provide you with our level of interest. Although we will not always provide a fast “YES”, a fast “NO” can be very helpful for you and your clients.
Considering the above, please understand that you are always welcome to call or email our underwriters regarding a current or future submission. We are available to help and look forward to assisting you and your client.