At minimum we typically need the following info to issue a quick verbal quote:
- Loan Amount needed and Current Value
- Purchase, Cash-Out or Rate & Term
- Estimate of Borrower Credit
- Property Type or preferably the Property Address
- Will the owner occupy over 51% of the property?
- Are there any Vacancies? – if so how many, and total units.
- Confirm Underwriting expectations.
- Does borrower want full doc or stated income underwriting?
- Can borrower provide 2-3yrs business & personal tax returns?
- A little background story never hurts.