Property Information

Transcription

1 IMN DIRECT CAPITAL FUNDING Office: LOAN APPLICATION Property Information Street Address City State Zip Purchase Price $ Estimated Property Value $ Requested Loan $ OR Requested LTV % What is the estimated property value based on: BPO Appraisal Realtor Personal Experience Online Resource Other: (explain below) (explain below) Actual OR Estimated Taxes $ Monthly OR Annual Actual OR Estimated Hazard $ Monthly OR Annual Actual OR Estimated Flood (if applicable) $ Monthly OR Annual Actual OR Estimated Association Dues (if applicable) $ Monthly OR Annual Month/Year Acquired Acquisition Price Cost of Improvements already made Describe Improvements already made / $ $ Refinances Describe liens/taxes to payoff Contract closing date Title Company Title Company Contact & Phone Number Escrow Deposit Paid Seller Paid Closing Cost: Describe your relationship with the seller Why is the seller selling this property? $ VFS Loan? Yes Other Payee: $ VFS Loan? Yes Other Payee: $ VFS Loan? Yes Other Payee: Purchases (Contact) (Phone) $ Held by: % or $ Page 1 of 7

2 Information Co Full Name Full Name SSN DOB SSN DOB Phone Yrs In School Phone Yrs In School Married (includes separated) Unmarried Married (includes separated) Unmarried No. of Dependents Ages No. of Dependents Ages Current Address Current Address Street Address Street Address City State Zip City State Zip Own Rent No of Year(s) Own Rent No of Year(s) Expected Credit Score: Expected Credit Score: Employment Information Co Employer Name Street Address City State Zip Self Employed Business/Other Phone: Employer Name Street Address City State Zip Self Employed Business/Other Phone: Position Position Yrs on Job Yrs in Profession Yrs on Job Yrs in Profession Property will be held in name of State Filed Tax ID # 1st Owner 2nd Owner 3rd Owner 4th Owner Corporate Entity s Entity Type (LLC, Corp,Partnership) Page 2 of 7

3 Ethnicity: Check One Hispanic or Latino Not Hispanic or Latino Race: check all that apply American Indian or Alaska Native Asian Native Hawaiian or Other Pacific Islander White Black or African American Sex Male Female Government Required Info Declarations LOAN APPLICATION Co Ethnicity: Check One Hispanic or Latino Not Hispanic or Latino Race: check all that apply American Indian or Alaska Native Asian Native Hawaiian or Other Pacific Islander White Black or African American Sex Male Female If you answer Yes to any questions a through i, please use continuation sheet for explanation. a. Are there any outstanding judgments against you? Co- Yes No Yes No b. Have you had any open bankruptcies in the last 7 years? If Yes, Enter dates completed/ discharged/dismissed: c. Have you had property foreclosed upon, sold short sale or given title or deed in lieu thereof in the last 7 years? If Yes, Enter dates completed/sold: d. Are you a party to a lawsuit? e. Have you been obligated on any loan of which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment? f. Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation, bond, or loan guarantee? g. Are you obligated to pay alimony, child support, or separate maintenance? h. Is any part of the down payment borrowed? i. Are you a co maker or endorser on a note? j. Are you a U.S. citizen? k. Are you a permanent resident alien? l. Do you intend to occupy the property as your primary residence? If Yes, complete question m below. m. Have you had an ownership interest in a property in the last three years? (1) What type of property did you own principal residence (PR), second home (SH), or investment property (IP)? (2) How did you hold title to the home by yourself (S), jointly with your spouse or jointly with another person (O)? Page 3 of 7

4 /Loan Profile Describe any other current loans with VFS Licensed Real Estate Agent? (Y/N) Yes No Licensed Real Estate Broker? (Y/N) Yes No Licensed Attorney? (Y/N) Yes No Licensed Mortgage Broker? (Y/N) Yes No How often do you invest How many years have you been investing? # of real estate investment properties purchased in the last 3 years # of real estate investment properties owned today (do not include primary or How do you typically finance the purchase of an investment property? If Bank: Please list specific banks you usually like to deal with If Other: Please list specific companies that you usually like to deal with Full Time Part-Time (Detailed Investment Experience may be required) Cash Finance with Finance with a Partner with Other a Bank Private Lender someone How many miles from your home do you usually invest? Typically with your investment properties, do you prefer to: Who manages your rental portfolio? If self managed, number of years managing property (If Purchase) Are you buying from: fewer than Citywide Statewide Other States 10 miles Fix & Flip Rent Both Fix & Flip Hold as Rental Self-managed, Self-managed, Other licensed property (Unlicensed property manager) (Licensed property manager) manager Private Bank FNMA HUD Other Seller Page 4 of 7

5 Business Plan for this property (Details will be reviewed with max LTV) What s the purpose for this loan? Why did you choose this specific property? Fix & Flip Fix & Flip Fix & Rent Fix & Rent Purchase other this property another property this property another property Investment property Payoff liens Refinance Other business Other and/or taxes current loan funds Why did you choose this area? about this Loan purpose: How much are you expecting to put into the property? Rehab Details How many months do you think that rehab will take? Detail the rehab to be made (provide bids as available) Where will the rehab funds come from: Do you serve as your own General Contractor? about this rehab: Personal Cash Additional loan Yes No Other (provide detailed explanation): Page 5 of 7

6 Is the property currently rented? Current Rent? Rental Strategy (complete only if property will be used as a rental during this loan) Yes No $ How long has this been rented yrs mths. Can you provide an executed lease? Yes No, explain why: Market Rent? Expected rent? (give details if below) Length of time to get rented? (months) Targeted monthly Cash Flow Is that a Government Sponsored renter? (Section 8) about this rental: How much do you expect to sell the property for? How many months do you think it will take before it s sold? Targeted net profit from executed flip What is your exit strategy for this loan? Yes No Not Sure Flip Strategy (complete only if property will be flipped by the borrower) Sell to an Sell to an investor Sell to either Rehab for rent Rent and Other Owner for rental an occupier then refinance into Hold Occupier or investor a longer term loan If Other: about exit strategy How do you expect to sell? For Cash Conventional Specialty Land Contract With Seller Financing Mortgage Financing Financing IF WITH TRADITIONAL BANK FINANCING: Would that be: about this flip: VA USDA FHA Other Unknown Page 6 of 7

7 Other than described above, how will the loan funds be used? Additional explanations: Broker/Referral Info (to be completed by broker) Name Address Phone Approved broker number Full Amortization Interest Only Rental360 (30 year, 7/1 ARM) 12 Month Loan Program Balloon 10 Year/3 Year Balloon 30 Year/3 Year Balloon I confirm that the above information is correct and authorize IMN Visio Direct Financial Capital Services Funding Inc. ( Lender ) and/or Broker listed above to verify any and all information necessary to process my mortgage loan application. I further authorize Lender/Broker to order a consumer credit report and verify other credit information. A copy of this form will also serve as authorization. Date Date Page 7 of 7