Apply for a Loan
If you do not have a contract on a property yet, but are actively looking for a property, it is possible to get pre-approved (subject to underwriting). Follow the steps below to submit an application for pre-approval.
To submit an application for pre-approval, follow these steps:
Complete a 1003 Application
The application will allow us to pull the credit report that is needed to submit the request.
Provide the following documents
You may upload your documents by clicking on the “Upload Your Info” link at the top of this page and selecting the loan officer of your choice. Or, you may choose to use Dropbox, email, fax, or other delivery methods of your choice. You may submit a “preapproval” request prior to having a contract on a property.
- Last 2 Year’s Tax Returns. (1st 2 Pages Plus Schedules C and E, if Applicable) or W-2s
- Most Recent Pay Stub for Salaried Applicants
- Year-to-Date Profit and Loss or Commission Statement for Self-Employed Applicants
- Pension or Social Security Statements for Retired Applicants
- Most Recent Checking, Savings, Mutual Funds, Stocks, Bonds, Certificates of Deposit, 401k, IRA Statements, As Applicable
- Written Description of Prior Fix-and-Flip Experience. If none, please discuss whom you will be working with in terms of a realtor, mentor, and/or contractor who will be guiding you through the process.
Pre-approvals are valid for 60 days. If you have not found a property within 60 days, you may contact us so that we can update and resubmit the pre-approval request. Once you have an executed contract on a property, we will need you to send us the contract and your itemized repair budget and questionnaire, using our form, which can be found on this site. If any other documents are needed at that time, we will let you know.
Once Under Contract
When you have a property under contract, you will need to complete the budget itemization and questionnaire to establish the amount of repairs to be completed to the property. We will need to review and approve the budget and it will be used by our approved appraiser when establishing the “after repair value” appraisal.