When you are ready to move forward...
1 - Complete [ loan request form ]
- Rehab estimate on contractor letterhead, with draw schedule.
- 2 years tax returns, recent bank account statements & your authorization to check credit. Remember, your real estate collateral is primary – your credit score is secondary!
- 3 or more comparable properties sold in the past 6 months
- Type of home – row home, townhome, twin home, single home, condo
- # bedrooms/bathrooms
- Square footage of home, lot size: price per square foot
- Age of home
- Type of construction (brick, stucco, frame)
- City ½ mile of target property
- Suburb 1-2 miles
Comparable homes that have sold (not just listed) in the past 6 months, matched by:
Distance of comps vary:
Homes.com, Zillow.com, Redfin.com, Trulia.com, Trend, etc
2 - Loan process
- Copy of clear title
- Each loan is secured with documents (click here for list)
3 - Post-closing
- Title insurance
- Hazard & construction insurance naming 1-2-3 lending as the loss payee, which protects you!