What is Needed to Submit a Rehab Loan
Commercial Lending, LLC will help you streamline the application process to get your loan reviewed in a timely manner. Our documentation requirements are focused primarily on the property being acquired, so you avoid the extensive paperwork and personal financial information usually required by banks and mortgage brokers.The following documents are required for a loan application:
On line Loan Request Form
Detailed itemized list of proposed repairs – scope of work and cost.
If draws are requested, please include your proposed draw schedule. Remember that no draws will be given until work is completed.
If changes to the layout of the home are proposed (additions, finished basements, etc), please provide floor plans with room sizes for your proposed changes
Digital photos of the property – all exterior sides, street scene, kitchen, baths and HVAC equipment (no camera phone photos accepted)
At least three comparable sales to establish your sales value
Copy of ratified sales contract for the property
Our friendly loan officers will assist you in compiling your loan application – just give us a call.
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Home | Hard Money/Rehab Overview | Hard Money Checklist | Land and Construction Overview | Land and Construction Checklist
Profit Calculation Form | Appraisers | Title Companies | Insurance Info | Repair Draw | Construction Draw | Loan Request Form
Loan Extension | Draw Request | Payoff Request | Wire Transfer | Contact | Wholesale Overview |
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| Commercial Lending LLC | 7603 Maple Branch Road, Clifton, VA 20124 | 703 830-7085 |
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