ER Fix Flip and Lend, LLC

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loan service detail

About Private Loan & How Does It Work

Eligibility Criteria

The borrower information eligibility criteria are listed below, and needed to be provided to the broker for upload to the Private Money exchange portal.

  • ENTITY DOCUMENTS:

    • Articles of Organization/Incorporation
    • IRS EIN Letter
    • Operating Agreement or Bylaws

  • GUARANTORS ON THE LOAN :

    • ALL Guarantor(s) – ID
    • ALL Guarantor(s) – Social Security Card or ITIN letter (Signed)
    • Most Recent 1040 Personal Tax Returns – Page 1 & 2 (Signed)

  • CONTRACTS:

    • Purchase & Sales Agreement
    • Earnest Money Deposit (if applicable)

  • BANK INFORMATION:

    • Bank Statements – 2 Full Months, All Pages
    • Investment/Retirement Statements (if applicable) – 2 Full Months, All Pages • ACH Form and Voided Check – Download sample document from portal, fill out, sign & upload

  • INSURANCE INFORMATION:

    • Hazard Insurance Binder for Subject Property
    • Flood Insurance Binder for Subject Property (if applicable)

  • TITLE INFORMATION: (Provide contact information and we will order this for you!)

    • Preliminary Title Report
    • Property Survey (if applicable)

  • REHAB INFORMATION:

    • Contractor Bid, License and Insurance (if applicable) – Required PRIOR to appraisal being ordered
    • Draw Schedule – Download sample document from portal, fill out, sign & upload

Documents Required

The borrower needs to provide the broker with the following required document.

  • All entity documents

  • completed loan application

  • Sign Broker Fee Agreement

  • All the documents under the contract in stated in Eligibilty Criteria where applicable

  • Other documents such as:

    • Borrower Experience, in the last 2 years in fixing and flipping or purchasing to hold, where name is reflected on HUD closing paperwork
    • Annual Taxes
    • Annual Insurance
    • Annual HOA Dues
    • Sign Zero Tolerance Loan Policy, Broker will provide you a copy of it

R & J Private Fund Broker, area of service as an Affiliate lead generated company for Private Money Exchange. We can only operate within the highlighted Orange states below.

Note: Real Estate Investor primary resident does not impact their property deal. if the address of the property is within one of the above orange states.