A complete first submission saves everyone time. This is the short list a private lender typically wants to see before it can give a real answer on an investor loan. We may request additional items on any file, but these cover most deals.
About the property
These facts let a lender understand what is being financed:
- Address, property type and number of units
- Purchase price, or current value on a refinance
- Photos and any inspection or condition notes you already have
- Current or expected rent, for a rental property
About the loan request
Say plainly what you are asking for:
- The loan amount requested and what it is for
- The rehab or construction budget, if any, with line items
- The planned exit: sale, refinance or hold
- The timeline to close
About the borrower
Private lenders look at the person and the entity behind the loan:
- Experience with similar projects
- Estimated credit score
- The borrowing entity, if there is one, and who owns it
- Proof of funds for the down payment and reserves
What happens after you submit
We review the submission and, if the deal fits a program, send a Letter of Intent for your client to review and e-sign. Underwriting follows, and you and your client get status emails and a document checklist so nothing surprises anyone.
A lender may ask for more than this list, and requirements vary by program, so treat it as the start of the conversation.