Documents

Lenders must do their due diligence for each and every real estate deal, and this requires them to examine all your documents. Lenders examine your documents because your documents give them a good understanding of you, your financial strength, your credit history, and your real estate deal. This is a good way lenders are able to see RED FLAGS if there are any. 

One of the brokers primary duties is to collect the borrower's documents and submit them to the lender. One of the biggest problems with getting a loan is the failure to provide needed documents or the failure to provide them in a timely manner. But this can and should be avoided.

It would be VERY wise to call me and discuss your documents situation before you buy a property. I want you to be 100% ready and this means having all of your documents ready to go BEFORE you have a real estate deal under contract. Plan ahead!! Plan for success!!

 The best time to call me is now, before you have a real estate deal so we can game plan your next deal. Let's plan your success!!

 KEY POINT - Plan ahead!! The sooner you turn in your documents the sooner the lender can process your loan and get you a closing date. The longer it takes you to give me your documents the more of a delay this could cause. 

Lenders hate it when you want a 5 to 7 day closing and you still have not turned in all of your documents. This is a very bad situation for you and the lender and it could potentially stop the lender from working with you, and this should be avoided. You do not want to look like an idiot in front of the lender because they could refuse to work with you.

Please note not every lender will ask for all of these documents, but it is prudent to have all of these documents ready in case they are needed.  The lender will tell me what documents they want and I will tell you.  

These are the most important and most common documents the lenders request the most.

Application Documents

• Pre-Loan Application – Download sample document from portal, fill out, sign & upload

• Schedule of Real Estate Owned – Download sample document from portal, fill out, sign & upload

• Schedule of Real Estate Sold – Download sample document from portal, fill out, sign & upload

• Zero Tolerance Fraud Policy – Download sample document from portal, fill out, sign & upload

• Broker Fee Agreement (if applicable)

ENTITY DOCUMENTS

• Articles of Organization/Incorporation

• IRS EIN Letter

• Operating Agreement or Bylaws

GUARANTORS ON THE LOAN

• ALL Guarantor(s) – ID

• ALL Guarantor(s) – Social Security Card or ITIN letter (Signed)

• Most Recent 1040 Personal Tax Returns – Page 1 & 2 (Signed)

CONTRACTS

• Purchase & Sales Agreement

• Earnest Money Deposit (if applicable)

BANK INFORMATION

• Bank Statements – 2 Full Months, All Pages

• Investment/Retirement Statements (if applicable) – 2 Full Months, All Pages

• ACH Form and Voided Check – Download sample document from portal, fill out, sign & upload

INSURANCE INFORMATION

• Hazard Insurance Binder for Subject Property

• Flood Insurance Binder for Subject Property (if applicable)

TITLE INFORMATION - (Provide contact information and we will order this for you!)

• Preliminary Title Report

• Property Survey (if applicable)

REHAB INFORMATION

• Contractor Bid, License and Insurance (if applicable) – Required PRIOR to appraisal

being ordered

• Draw Schedule – Download sample document from portal, fill out, sign & upload