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
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Comparable homes that have sold (not just listed) in the past 6 months, matched by:

• 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)
  
• Condition

Distance of comps vary:

• City ½ mile of target property
  
• Suburb 1-2 miles

Sources:

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!