Lender ready: the package that gets a faster yes

A lender's first impression of a deal is the package. A complete, consistent package tells the lender the borrower is organized and the numbers can be trusted. An incomplete one invites more questions, more conditions, and sometimes a lower number.

What a complete package includes

The request. A one page summary: what you are buying or refinancing, how much you need, the timeline, and how the loan will be repaid.

The property or business.

• A trailing 12 month operating statement and the prior two years.
• A current rent roll or revenue breakdown.
• The purchase contract, or the current loan documents for a refinance.
• Photos, a list of recent capital improvements, and any third party reports you already have.

The plan.

• Sources and uses: where every dollar comes from and goes.
• The business plan and budget for any renovation or growth.

The borrower and guarantors.

• Entity documents and an organizational chart with ownership percentages.
• Personal financial statements and a schedule of real estate owned.
• Tax returns and recent bank or brokerage statements showing liquidity.

The gaps that slow deals down

• Numbers that do not tie. The rent roll, the operating statement, and the summary should agree. When they do not, lenders stop and ask.
• A pro forma presented as actuals. Lenders will find out. Label projections clearly and lead with the trailing numbers.
• Missing liquidity. Many lenders require reserves after closing. Show where they are.
• Unexplained items. A late payment, a vacancy spike, or a lawsuit. A short explanation up front is better than a surprise in underwriting.

Why it matters

A lender ready package does more than save time. It lets you approach the right lenders at once and compare real terms side by side, instead of reacting to one lender's questions at a time.

Start here

Download the checklist for your loan type from our Document Checklists page. When your package is ready, or if you want help assembling it, submit a financing request and upload what you have.