The Following Items Are Needed For A Loan To Be Submitted, For Rapid Approval Through Our Office:
- Completed Loan Application (1003)
- Credit Report
- Current bank statements for each bank account.
- Signed letter from borrower stating their purpose for this loan.
- Signed letter from borrower stating their exist strategy for this loan.
- Appraisal or something showing value (such as a Broker Priced Opinion/BPO).
- Something Showing Income (such as 7 bank statements, 1099, W-2, current paystub, tax return, leases, etc.)
- Broker fees being charged.
- If this new loan will be paying off an existing loan, then we need a copy of the existing mortgage statement.
- For 2nds, need a copy of the most recent mortgage statement and NOTE for the senior loan.
- Prelim and Escrow contact, unless we will be opening Escrow.
- If property is in a Trust or LLC, etc. we will need the Trust Cert, LLC Docs, etc.
- Copy of Purchase Agreement if a Purchase.