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info@afdlending.com
5080 Spectrum Drive, Suite 1000 East, Addison, Texas 75001
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Rehab Loan
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*Borrower's First Name
Borrower's Last Name
*Phone Number
*Email
*Is Borrower a U.S. citizen?
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Yes
No
Are the Buyer and seller related by blood or marriage on this transaction? If yes please explain.
Has the borrower(s) ever been convicted of a felony? If so, what date did it occur and what was the name of the exact charge?
Company name the borrower(s) are closing in (must close in a corporate entity):
What name is the property currently titled in (company or personal name), if applicable?
Who makes up the entity and what are their percentages of ownership?
Address of Property:
How many acres of land is the property on?
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*What is the current square footage of the property?
Exact property type (Ex: SFR, 2-unit, 7-unit):
Is this property type, considered a mobile or manufactured home at all? If yes, please specify in detail.
*Is this property zoned commercial or residential?
commercial
residential
If the property is zoned residential how many bedrooms and bathrooms does it have?
Is there an HOA where this property is located? If so, what is it and when is it paid?
Is this property vacant or occupied? If it is occupied, by whom?
*Will this property be turned into a different property type? (Ex, will a bedroom, bathroom, a floor, or more square footage be added to the property?)
yes
no
Purchase Price (PLEASE ONLY FILL THIS IN IF THIS IS A PURCHASE TRANSACTION):
*Is the borrower already in a purchase and sales contract?
yes
no
Is the borrower buying this property from a wholesaler? (If so, we will need a copy of both purchase and sales agreements/assignment agreement)
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If in purchase and sales contract, has any earnest money been put down? If so, how much?
*Current Fair Market Value of property:
*When does the borrower need to close?
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Immediately (>14 days)
14-21 days
21-30 days
30-45 days
45 days +
*Rehab Cost?
Are architectural plans required for this rehab job? (If so, we will need a copy in order to get the appraisal ordered!)
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*ARV (After Repair Value) of property:
*Exit Strategy on Loan?
--- Select ---
Refinance
Sell
*How long will the property take to rehab?
--- Select ---
Less than 1 month
1-2 months
2-4 months
4-6 months
6-8 months
8-10 months
10-12 months
12 + months
How much money does the borrowers have to put into the project (Must have 20-35% (depending on property type) of purchase price plus closing costs) PLEASE PUT IN A DOLLAR AMOUNT, NOT A PERCENTAGE. We will ask for a bank statement to verify these funds.
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How many BOUGHT AND SOLD (fix and flip) deals has the borrower done in the past 2 years? (we will need a list with dates bought and sold).
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*Can the borrower(s) prove they have bought and sold properties with Hud-1’s or settlement statements in your company name or personal name? (If not, the lender will not count this as experience!)
yes
no
*How many investment properties has the borrower(s) purchased in the past 3 years? (Primary home does not count. Properties could have been bought at any time.)
*How many investment rental properties does the borrower(s) currently own, that are currently leased out (They must be rented with an actual leased tenant)?
*Do you currently own the property being rehabbed?
Yes
No
*Date property purchased
*How much did you buy it for?
If Refinance, how much money was put down on the initial purchase?
If the borrower(s) already owns the property, have they put any of their own funds into rehabbing it?
Yes
No
*How much
*Can you prove the money you have put into the project with receipts?
Yes
No
If the borrower(s) already owns the property how much existing debt is on it?
*Borrowers fico scores (Please list all borrowers scores):
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Please list borrowers home address
*Does the borrower(s) rent or own?
Rent
Own
*Please list monthly payment
*Does the borrower(s) have any IRS issues/liens, Tax liens, judgments, past bankruptcies, past chapter filings, past foreclosures, past home modifications, recent or pending lawsuits against them, current delinquent bills or any current or past credit issues we need to know about?
Yes
No
Please explain:
*Has the borrower(s) ever had any mortgage lates?
Yes
No
Please specify:
*Does the borrower(s) regularly file taxes with the IRS?
Yes
No
What years were not filed?
*What rates and terms are the borrower(s) expecting?
*Is the borrower already working with another broker or lender?
Yes
No
*Please name Broker or Lender:
*What is your exit strategy?
Rent
Sale
What is special about your deal?
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