LoopWholeFunding.com

Documents and forms that will be needed:

Loan Application filled out online.
Borrower's credit authorization
Escrow/Closing attorney contact information.

Fix-and-Flip Loan
Line of Business Credit
DSCR Loan
Construction

FIX-AND-FLIP LOAN DOCUMENT LIST

When preparing for a Fix-and-Flip Loan, there are several key documents you should provide to streamline the process and ensure all necessary information is available.

1. Loan Application

• Completed application form detailing personal and financial information.

2. Property Information

• Property Address: Full address of the property being purchased.
• Purchase Agreement: A signed contract between the buyer and seller.
• Property Description: Details about the property type (single-family home, condo, etc.), square footage, and condition.

3. Financial Documents

• Credit Report: Recent credit report to assess creditworthiness. (we can pull credit)
• Income Verification: Recent pay stubs, W-2s, or tax returns for the last two years.
• Bank Statements: Last 2-3 months of bank statements for all accounts.

4. Project Plans and Estimates

• Scope of Work: Detailed description of the renovations planned.
• Repair Estimates: Quotes from contractors for the anticipated repairs and improvements.
• Timeline: Proposed timeline for the completion of renovations.

5. Investment Strategy

• Exit Strategy: Plan for selling or renting the property post-renovation.
• Comparable Sales: Recent sales data for similar properties in the area to justify the projected after-repair value (ARV).

6. Personal Documentation

• Identification: A valid government-issued ID (driver's license, passport).
• Social Security Number: For credit checks and financial evaluations.

7. Legal Documents

• Business Entity Documents: If applicable, documents proving the existence of a business entity (LLC, corporation) involved in the transaction.
• Business EIN

construction loan DOCUMENT LIST

For a construction loan, you will need to provide a comprehensive set of documents that outline your plans, finances, and the specifics of the construction project. Here's a detailed list of what you should submit:

1. Loan Application

• Completed loan application form with personal and business information.

2. Property Information

• Property Address: Full address of the property where construction will take place.
• Purchase Agreement: If applicable, a signed contract for the property purchase.

3. Construction Plans and Specifications

• Architectural Plans: Detailed blueprints or drawings of the project.
• Specifications: A complete list of materials and construction methods to be used.

4. Construction Budget

• Detailed Budget: A line-item budget that includes costs for materials, labor, permits, and other expenses.
• Contingency Fund: An outlined contingency fund (typically 5-10% of the total budget) for unforeseen expenses.

5. Timeline

• Construction Schedule: A projected timeline for the completion of the project, including major milestones.

6. Financial Documents

• Personal Financial Statement: A detailed statement of personal assets and liabilities.
• Income Verification: Recent pay stubs, W-2s, or tax returns for the last two years.
• Bank Statements: Last 2-3 months of bank statements to demonstrate cash flow.

7. Credit Information

• Credit Report: A recent credit report for the borrower(s) to assess creditworthiness.

8. Identification Documents

• Owner's Identification: Government-issued ID (driver's license, passport) for all owners or partners.
• Employer Identification Number (EIN): If applicable, the business's EIN.

9. Contractor Information

• Contractor Credentials: Proof of the contractor’s qualifications, including licenses and insurance.
• Contractor Agreement: A signed contract with the contractor detailing the scope of work.

10. Additional Documentation

• Zoning and Permits: Documentation showing that the property is properly zoned for the intended construction and copies of any obtained permits.
• Market Analysis: A brief overview of the market to justify the construction project and its potential value.
• Insurance Information: Proof of insurance for the property and construction project.

Document List

Documents and forms that will be needed:

FIX-AND-FLIP LOAN DOCUMENT LIST

1. Loan Application

2. Property Information

3. Financial Documents

4. Project Plans and Estimates

5. Investment Strategy

6. Personal Documentation

7. Legal Documents

LINE OF BUSINESS CREDIT DOCUMENT LIST

1. Business Information

2. Financial Statements

3. Tax Documents

4. Credit Information

5. Business Plan

6. Identification Documents

7. Additional Documentation

Debt Service Coverage Ratio (DSCR) loan DOCUMENT LIST

1. Loan Application

2. Property Information

3. Financial Statements

4. Tax Documents

5. Cash Flow Analysis

6. Credit Information

7. Identification Documents

8. Additional Documentation

construction loan DOCUMENT LIST

1. Loan Application

2. Property Information

3. Construction Plans and Specifications

4. Construction Budget

5. Timeline

6. Financial Documents

7. Credit Information

8. Identification Documents

9. Contractor Information

10. Additional Documentation

Started Today

We have the best and most affordable options to help you grow your business. Our mission is to help small businesses across the U.S and Canada. We proud of our personal service, where you consult with your own dedicated Funding Manager who will assist you every step of the way.