Principals who own greater than 33% of the corporation, partnership or LLC must provide a copy/picture of a driver’s license, social security number and agree to a background check. Any co-borrowers must have a 10% stake, ideally 25%, when applying with a principal.
Copy of Driver's License
Your DL can be provided as a picture from your cell phone, an image by email or a PDF from your scanner, as long as the quality is very good.
Your experience is an important part of the approval process. We just need some basic information about your previous fix and flip projects or any properties that you have owned within the last 24 months.
This can be a Corporation, LLC or Partnership – Articles of Organization or Certificate of Incorporation, along with any operating agreements that may exist that show what percentage of ownership each member/owner has.
Optional Bank Statements
Please have ready the 3 most recent bank statements for the account from which you are using for your down payment, cash to close and monthly mortgage payments.
Scope of Work (SOW)
This is your Total Rehab Budget worksheet and will match the amount of rehab funds you request in your loan application. It is easy for you or your contractor to complete.
Everyone knows what this is. Once you have a ratified sale contract, deliver us a copy along with any addendum or assignment agreements. If it is a double closing, please have the title agent provide both the A-B and the B-C.
Leases, if applicable
If the property is currently tenant occupied, you must provide copies of any leases or agreements to rent.
Title Commitment & Lien Search
Once the closing agent receives the title commitment and a lien search report, we will get a copy of each for review, underwriting and authorization to fund your loan.
Methods To Transfer Docs
Documents and worksheets can be delivered to us by hand, by email, or shared directly through WhatsApp or Telegram apps. Otherwise, popular cloud storage may be used such as Google Drive, Microsoft OneDrive or DropBox.
Online Spreadsheet Completion
Help with the spreadsheets is available by online meeting or in person. Just schedule an appointment. Any documents that require a signature can be signed electronically from your computer or phone.
Ready to close hard?
Fund your next fix and flip, buy and rent, or refinance with a cash-out.