1. . *****CLICK on link below (This is faster and easier than emailing multiple emails)
***UPLOAD ALL LOAN DOCUMENTS HERE (CLICK) (LABEL ,name-project name)
WHEN YOU GO TO THE ABOVE SITE, YOU WILL SEE:
1. you will be asked for your name (your name or project is fine)
2. enter files (just like you would attach files to email)
3. hit the "upload" button AT bottom of page
4. your done
****this is far simpler than email, wont go to spam, no size limit
when you hit "add files" on link page, your file window on your computer will open and you can add as many files as you wish.
2.. INITIAL HARD MONEY LOAN SUBMISSION FORM (CLICK) *** If you dont have a one or 2 page loan summary please use this one or one that has the basic loan request outlined OR , you may complete and a commercial ***** OR: (IF YOU NEED PDF VERSION)
ONLINE Loan request (Commercial Bridge Loan Request).
***One of the biggest reasons for failure and delay is the lack of understanding the loan request. Lenders review 100's of files a month, a loan request must be short, clear and concise.
Ex: your summary should contain the loan amount, exact description of collateral , transaction type, purpose and use of funds. If bridge loan - whats the exit, if we are requesting income documentation, a simple summmary (" John Doe reports 235,000 / year income, shows 400k liquid and reports 700+ credit)
Then, you should indicate what documents are being uploaded (leases, rent rolls, etc)
Our goal is to help move loans along from initial review to a Term sheet pending actual site visit- appraisal of property. Generally that happens withing 12 - 36 hours.
3. Forms & Outlines for your project:
1003 (standard borrower application) for small bank and hard money loans
Property Specific - (Supplements to go with basic application)
BELOW IS WHAT OUR INITIAL PHONE REVIEW WILL INCLUDE
Review of loan Summary and Borrower facts. Once we agree on preliminary terms, a term sheet or LOI will be issue and we request a full loan package and move to closing.
complete packages should include:
Executive “Narrative” Summary (our loan "story" submission covers these topics). Initial review of loans is not underwriting, we must and require a summary that addresses the following. We do not package and review every document to find initial answers, but rely on borrower and broker to present the main deal points in organized format. Thanks.
Purchase portfolios, unfinished projects, distressed assets and more with private and institutional bridge money..
Land financing with private funds. Small loans in Texas and 500k greater in top 25 type markets.
Small Commercial Bank Loans
I. APPLYING FOR THE HARD MONEY LOAN : the process
*******PLEASE UPLOAD ALL PDF FILES ON (WWW.UPLOADMYLOAN.COM) CLICK - This is a page within this website
1. loan application -(use std. 1003 or personal financial statement with detailed REO Schedule)
3. purchase contract (executed) if purchase (if refinance, must know history -original purchase price and date)
Underwriter will review property and borrower and issue approval. (SEE MORE...CLICK)
II. SUPPORTING DOCS:
you have an executive summary clearly stating a loan request, use of funds and exit strategy.