What documents do I need to close a loan?

Jun 26, 2017 | How Hard Money Works

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byNathaniel Butler

  • Signed Term Sheet

  • Commitment Fee Payment – Our commitment fee varies from deal to deal but is typically around $1,400. This includes the attorney fees and appraisal fees.

  • Borrower Information- Full Name, Address, Birthdate, SSN (of all LLC members), Purchase and Sale Agreement

  • W-9 for Purchasing LLC

  • Employer Identification Number (EIN) for Purchasing LLC

  • Articles of Organization for Purchasing LLC

  • Hazard/Liability Insurance Certificate – This is required for all our deals. If the property is undergoing renovation, then there needs to be a builder’s policy in place.

  • Bank Account Information

  • Access for our inspector to take pictures of the interior and exterior of the property

  • Two of your most recent Tax Returns (i.e. 2015, 2016)

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