Welcome to Asset Advocates, We have over 25 Years in Real Estate Experience

41 Vreeland Ave. Suite 22
Totowa, NJ 07512

(888) 958-1859
Info@AssetAdvocates.com

Mon - Sat 9:00 A.M. - 6:00 P.M.
Sunday Closed

Loan Application

To apply for a loan please complete and send back our application. Listed below are some of our criteria and information we require for approval of a rehab loan:

PROPERTY TYPE: Non-owner occupied residential investment properties Nationwide
LIEN POSITION: First mortgage only
STANDARD TERM: 12 Months
FUNDING: We fund up to 80% to 90% of purchase & rehab cost combined, not to exceed 60% to 65% of after repair value (ARV).
RELEASE OF
REHAB FUNDS:
Rehab funds are placed in escrow and paid in draws after verification of repairs then wired directly to the borrower���s account.
POINTS: Paid at closing
CLOSING COSTS: Paid at closing (except legal and application fee).
GUARANTY: Personal guaranty required.
LOAN DOCUMENTATION
Borrower and
Guarantor
��� Loan Application
��� Credit Report
��� Corporate (LLC) Formation Documentation
��� Recent Bank Statements
��� Recent Federal Tax Returns
��� Recent Paystubs
��� W9/EIN Docs
��� Operating Agreement/Corporate Resolution
��� IF REFI: Deed or Title Owner���s Policy
LOAN DOCUMENTATION
Property
��� Purchase Agreement
��� Appraisal
��� Scope of Work and Draw Schedule
��� Builders Risk and Liability Insurance
��� Contractor License and Proof of Insurance
��� Title Policy