Everything you need for a Hard Money Loan

 
 
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 Single Family Residential Checklist

 
  1. ONE PAGE APPLICATION

  2. 3 MONTHS WORTH OF BANK STATEMENT

  3. UP TO DATE CREDIT REPORT

  4. TWO CONSECUTIVE YEARS OF INCOME TAX RETURNS

 
 

Multi-Family or Mixed-Use Property Checklist

 
  1. CURRENT RENT ROLL including:

    • Regulated units ( controlled, stabilized)

    • Apartment number

    • Room / Bathroom count

  2. COMPLETE INCOME / EXPENSE STATEMENT on the property including:

    • Annual property taxes

    • Insurance

    • Water / Sewer

    • Fuel, Electricity

    • Maintenance / Repairs & Management

  3. SUMMARY OF ALL COMMERCIAL LEASES (if any) that show expirations and escalations

  4. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE.

  5. IF ACQUISITION, PLEASE PROVIDE A COPY OF FULLY EXECUTED CONTRACT OF SALE.

  6. IF REFINANCE, PROVIDE A COPY OF THE PURCHASE SETTLEMENT STATEMENT.

  7. PHOTOS (at least 5)

  8. SITE PLAN OR PROPERTY SURVEY, if available.

  9. SUMMARY OF CURRENT FINANCING (refinance only) including:

    • Current Lender

    • Current principal balance

    • Current interest rate

    • Current monthly payment

    • Maturity date

    • Prepayment penalty information

  10. CURRENT BUSINESS FINANCIAL STATEMENT

  11. CURRENT PERSONAL FINANCIAL STATEMENT

  12. LAST 2 YEAR PERSONAL AND BUSINESS TAX RETURNS