IF you can answer below questions, our group offers a wide range of loans for the investor. Many are used to payoff hard money loans (including ours – Texasrehabloan.com) .
This will quickly analyze loan and determine whether its full ,alt.doc(bank statement and stated income) or “no ratio” loan- meaning no rent no income , strictly ltv based.
Loan Summary (why the loan, how much, other..short paragraph about the nature and reason for loan) .
When purchased :
How much Monies spent on repairs if any:
Purchase price (if purchase transaction) :
Work needed (if any):
Borrower credit if known:
Explanation for negative items , if any -what does borrower know of credit:
Property income and expenses :
Ren amount :
Taxes (annually) :
Property management fee:
Is property current rented ?
Submission supplement (once we get the preapproval) or you can answer now
Real estate contract (signed)
Borrower application (texasrehabloan.com (for rehab loans), texasinvestorloan.com (for long term rental loans)
**for full and alt documentation loans (2 year tax returns and 3 bank statements)
24 months bank statements for our bank statement program
- How much is total deposits for 24 months___
(for access to property if needed, appraisal, inspection ,other)
Title company contact
Deposit of 750.00 for appraisal /site visit/ doc prep(paid upon receiving basic terms and approval)