KISS Residential Loan Package Checklist
KISS RESIDENTIAL LOAN PACKAGE
KISS Capital has the ability to fund transactions
quickly; however, the ability to fund transactions quickly is dependent upon
the organization of the borrower/property information. In order to speed up the process of funding
your loan transaction, please submit all of the following information with your
completed application. For certain
transactions additional information may be requested.
Residential Loan Application
of Real Estate Owned
Tolerance/ Fraud Policy
to Pull Credit
or Operating Agreement
Statements – Last 3 months/ All accounts – All Pages
Party Appraisal (Lender will
Report - $25
is the link: https://thesolution.isrefer.com/go/CDNA5_PME/terrymckee/
lease agreement(s) - if applicable
and executed Purchase and Sale Agreement, if applicable
of Earnest Deposit
of Work with Draw Schedule
copy of Contractor License and Insurance
the property and loan
KISS Residential Loan Package Checklist PDF Version
You can also download the PDF version here.
- Executive Summary: Please, please tell the whole story. You have been to the house, done the work to determine value, and know the project's worth. But your work is not done. You now must accurately convey all that work into words and proof documents. Far too many loans are turned down because the Borrower does not accurately do this. Don't be this guy!
- Schedule of Real Estate: Don't worry if you don't have any homes you own right now! Everyone starts with one.
- Business Entity Documents: We can start the loan process without these, and you can even get the entity while we do our due diligence. You will just need to submit these shortly before the process can be completed. But don't delay, get these in so it does not hold up your loan.
- Bank Statements: They MUST have your full account number on them! Sometimes the online statements do not. But you can go to your bank and they can give you a printout of activity, stamp with their stamp, and you will be good to go.
- Property Valuation: DO NOT ORDER THE APPRAISAL ON YOUR OWN. The lender will do this. You can't do it or it will not be valid.
- DNA Report: $25 bucks can save you hundreds! Plus it will support your application.
- Current Lease Agreements: Required. Be sure a relative is not occupying the property. In some cases this counts as owner occupied and can cause your loan to not be approved.
- Complete and Executed Purchase and Sale Agreement: Don't try to submit a loan without a contract! Also include a copy of the earnest money check.
- Scope of Work with Draw Schedule: This is likely to have some changes made by the lender, but don't worry! It is for your protection.
- Contractor Bids: Constractor must be licensed and have insurance.
- Preliminary Title Report: Your closing company will provide this for you.
- Hazard Insurance Binder: Definitely required!
- Broker Agreement: If you already have a broker, great. Just send along that agreement and we will take care of you both.
Thank you for using the KISS Residential Loan Package Checklist! It will help get you the funding you need faster!
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