Get your loans closed up to 7 days faster with this.
Our borrower may close a week earlier than expected because he got us what we needed upfront. We didn’t start anything until he got us those files because we knew the hassle that was to come. Submitting a loan without documents just means the lender will go back and forth with you until they have “everything they need.” But that back and forth means you wait for them to read your emails, then they’ll reply saying they’re still missing docs, you’ll send them, they’ll say some documents need revising, and the cycle continues. So have these 6 items in a folder NOW: 1. Front and back of your Driver's License 2. 2 months of bank statements (plan for roughly 5% of your loan amount in reserves) 3. Entity docs — signed Operating Agreement, EIN, Articles of Organization, Certificate of Good Standing 4. Purchase Contract (if applicable) 5. Lease Agreement (if one is in place) 6. Real Estate Owned Schedule (I have a template — just ask in the comments) Taking 1 hour to save 7 days is the best hack to getting deals to the finish line. Create that folder and tell me how quickly you close your next deal.