Items For Private Financing Loans
24-hour underwriting decisions ... guaranteed!
Items needed for 24-hour Underwriting:
1. |
1003 Loan Application or current financial statement (less than 6 months old) |
|
2. |
Signed Tax Returns for 2 most recent years. (Corporate and Individual, if applicable.) |
|
3. |
Borrower's credit report. |
| 4. |
YTD Operating Statement for subject Property |
| 5. |
Rent rolls and copies of all rental/lease agreements. |
| 6. |
Appraisal or Documentation of Estimated Value |
| 7. |
Written "Use of Proceeds" letter |
| 8. |
Color pictures of subject property |
| |
|
| |
Note: DLG underwrites based on as is income and value. We do not utilize projections. |
|
Additional items needed to close transaction
1. |
Title Report (if available) -- Have ordered. |
|
2. |
Purchase and Sale Agreement, if applicable. |
|
3. |
Attorney opinion letter regarding applicability of State Usury Laws |
| 4. |
Insurance Agent name and phone number. |
| 5. |
Current year property tax statement for all parcels. |
| 6. |
Assignment of appraisal and appraiser's authorization to use the appraisal in a public offering. |
|
If the Borrower is a Corporation/LLC/Partnership or Trust:
1. |
Articles of Incorporation. |
|
2. |
Corporate Resolution authorizing the loan, and the officer(s) authorized to execute the loan documents. |
|
3. |
LLC Certificate of Organization and Operating Agreement (Resolution required). |
| 4. |
Copies of the Partnership/ Trust Agreement. |
|
|
