Avatar's Blog
» Present a Convincing Loan Package
Hard money lenders, like conventional bank lenders, require specific items in a loan package before reviewing the loan from a borrower or broker. Some lenders are known to ask for 20 photos of a property, including so many of the outside, the inside, the neighborhood, etc. If only 18 photos accompany the loan request, the package is tossed in the waste basket.
Avatar Financial Group believes in a more client-accomodating loan process. However, complete loan packages are always more welcome than those with glaring deficiencies. A complete loan package includes photos of the property, inside, out and the neighborhood, a completed 1003 (commercial loan application - get it on the 'forms' page of our website) and P&Ls on the subject property or borrower, depending on whether the property is income producing.
