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Deal Submission Checklist
Have these ready and your deal moves faster. Most deals fund in 3 weeks on average, and 2 weeks with rapid close and a complete submission.
You don’t need to send everything to get started. Submit your deal first. Once it pre-qualifies, your dedicated loan officer sends one complete needs list, and you upload everything in your portal.
Every loan
- LLC documents
Articles of organization, operating agreement, EIN letter and certificate of good standing. The entity name must match exactly on the contract, title and insurance.
- 3 months of bank statements
All pages, showing the liquidity for your down payment, closing costs and reserves.
- Track record
Not required. If you have experience, include it. It can increase your leverage. Use our template.
- Insurance
Your own policy or one we quote for you. We send the insurance requirements so it is right the first time.
- ID verification
We send you a secure link to verify your identity and upload your ID.
- Credit and background authorization
We send an authorization for a soft pull credit report and background check. A soft pull does not affect your credit score.
Purchases
- Fully executed purchase agreement
Every page signed and initialed by all parties, with all addendums and any assignment agreement.
Refinances
- Payoff statement
A current payoff statement for any loan being paid off.
Fix and flip and ground up construction
- Scope of work
An itemized budget, line by line, with your timeline and contractor information. Use our template. The more detail, the more accurate your after repair value.
Rentals: DSCR and portfolio
- Rented 6 months or more
The lease agreement plus proof of rent payments, such as receipts or bank deposits.
- Rented less than 6 months
The lease agreement plus proof of the security deposit and first month’s rent.
- Vacant or no lease
Market rent from the appraisal, Form 1007, or Form 1025 for 2 to 4 units.
Mistakes that delay closing
- The LLC name doesn’t match. The contract, title and insurance must all show the same entity name.
- Insurance ordered late. Start your quote as soon as you are under contract.
- Title issues found at the last minute. Open title early so liens and judgments get cleared in time.
- A purchase agreement missing signatures or addendums. Check every page before you submit.
- A one line rehab budget. Itemize the scope of work. Vague budgets slow the appraisal and your draws.
Have a deal in front of you?
Send the basics. Your dedicated loan officer will reach out within one day, Monday through Saturday.