SSN/DOB/ (Credit Monitoring Request) - DSCR/REHAB - 2023 Real Estate APP (1003 Compliant) - 

  • This application takes approximately 10 minutes to complete.

  • What you will need to complete this application 

       

    1. Driver's License
      (State Photo ID, Current Passport ID, or US Permanent Resident Card is acceptable)

    2. Details about the investment property including purchase price and rehab costs (if any)


    3. Current Lease Agreement (if applicable)
      Additionally, proof of received rental payments, such as receipts, Cash App, Zelle, PayPal, etc., may also be required depending on the lender.

    4. Proof of Property Insuance

    5. Access to your rental INCOME information (if applicable)


    6. Access to your rental EXPENSES information (if applicable)

    7. Your EIN Number if you have a corporation
       (LLC S-Corp, C-Corp, Nonprofit, or Trust)

     

     

  • Our Minimum Loan Amounts

    • $150,000 - DSCR Loans (Real Estate Business Loans)
      For Purchase + Cash Out Refinance

      As low as $100,000 on a case-by-case basis
      Minimum Credit Score: 620


    • $50,000 - Private Loans/Hard Money
      For Rehab Loans ONLY
      Minimum Credit Score: 680

    • $100,000
      Full Doc Refinance (Cash out Included)
      Minimum Credit Score: 680

  • Manufactured Homes LTV Limits (for DSCR):

    1. Purchase: up to 65% LTV
    2. Refinance (rate/term or cash-out): up to 60% LTV

     

  • What you will need to complete this application 

       

    1. Driver's License
      (State Photo ID, Current Passport ID, or US Permanent Resident Card is acceptable)

    2. Details about the investment property including purchase price and rehab costs (if any)


    3. Current Lease Agreement (if applicable)
      Additionally, proof of received rental payments, such as receipts, Cash App, Zelle, PayPal, etc., may also be required depending on the lender.

    4. Proof of Property Insuance

    5. Access to your rental INCOME information (if applicable)


    6. Access to your rental EXPENSES information (if applicable)

    7. Your EIN Number if you have a corporation
       (LLC S-Corp, C-Corp, Nonprofit, or Trust)

     

     

  • FEES

    FEES

    We believe in transparency so there are never any surprises at the closing table.

  • Credit Report Fee

    $99

    This fee is NOT required at this time. You’ll have the option to upload your own credit report at the end of the application.

    However, please note that if you choose to move forward with the loan, we will need to pull an official credit report at that time, and the associated fee will be due then.

  •  Our Loan Prep Application Fee

    Our Loan Preparation Application Fee is $495*.  This fee is NOT required at this time. 

    It is due at closing when the loan is funded and will be included in closing costs.

    *NOTE: If ONE real estate loan consists of multiple properties, the Loan Preparation Application fee may be higher.

  •  

    Appraisal Fee

    The typical fee for an appraisal for a residential property starts at approximately $650 - $950 per property and goes directly to the appraisal company. 


    Appraisals for multiple properties or more complex property structures will have a higher fee.

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  •  

    SMS Alerts Opt-In Request for Instant Loan Updates

    We would like to send you your loan updates via SMS. By opting in, you'll receive:

    • Real-time status of your current loan application.
    • Direct answers to your queries via text.
    • Updates on information we may need from you.

     

     For future opt-out, simply reply 'STOP'.
    Msg&Data rates may apply.
    See our Privacy Policy & Terms.

  • To OPT-IN, select 'YES'. To DECLINE, Select 'NO'.*
  • Please confirm that you understand our fee structure, required documents, and consent to our credit check. You may either upload a recent FICO credit report or provide login credentials to a credit monitoring service that uses FICO scores.*

  • As previously noted, if you decide to move forward after pre-approval, we will need to pull a credit report as required by the lender. There is a $75 fee for this report due upfront.

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  • Thank you for letting us know you do NOT consent to submit your login credentials or upload a credit report.  Your application will NOT be recorded.  You can close this screen.

    We wish you the best with all funding endeavors!

  •  

    We understand and respect your decision to decline SMS notifications. However, due to our system's design, we cannot move forward without this communication method.

    Should you reconsider or have any questions, please reach out. We wish you all the best in your endeavors!

    Warmly,
    The Funding Clinic Team

     

  • Loan Information

    Loan Information

  • What loan type are you seeking?*
  • Do you know the address of the property you’d like to buy, or are you still shopping?
  • Desired Terms (Most loans are amortized at 30-years or more)*
  • What manner will the title be held?*
  • Have you ever or do you currently serve in the US Military?*
  • Military Service
  • Property Information

    Property Information

    Tell Us About Your Property
  • What type of investment property are you seeking financing for?
  • Manufactured Home Eligibility Requirements (check all that apply)
  • Do you have recent appraisal that is no older than 90 days?*
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  • Is this investment property currently listed for sale?
  • Has the investment property been listed for sale in the last 6 months?

  • Lenders will not finance properties that are actively listed for sale. The property must not be on the market at the time of the loan application submission.

    • Property Refinances Section - START 

    • Refinance

    • Are you looking to refinance your entire loan or take out an Equity Loan?
    • What type of rental property loan are you applying for? (If you’d like pricing for different loan types, feel free to select all that apply.)*

    • What's the Difference?

      Cash Flow Only (Standard Rental Loan)
      This option is the most popular because it is based solely on the property’s rental income compared to expenses like taxes, insurance, and HOA (if applicable). No personal income documentation is required.

      Bank Statement Loan
      This loan uses 12–24 months of business or personal bank statements to verify your income. It’s a great fit for self-employed borrowers or business owners with strong cash flow.  Rates are often lower than Cash Flow Only loan.

      Profit & Loss (P&L) Statement
      This option allows you to qualify using an accountant-prepared P&L statement, with or without supporting bank statements. It offers flexibility for business owners who may not show income traditionally but have strong financials. Rates are often lower than Cash Flow Only loan.

      Full Documentation
      This is a traditional loan that requires W-2s, pay stubs, and tax returns to verify income. It’s best for borrowers with consistent salaried or hourly income and typically provides the most competitive terms.

    • Do you currently have a mortgage on your property?*
    • Do you currently have a written lease agreement in place with the tenant(s) for the property, signed and dated by the tenant?*
    • Do you have a 2nd or 3rd mortgage (including Merchant Cash Advances or other type of liens against your property)?
    • Reason for loan*
    • Have you done any improvements on the property?*
    • Have you been late on any mortgage payments in the past 12 months (30 days or more past due)?
    • Has your loan been in forbearance at any point in the last 12 months, or is it currently in a forbearance program? (Forbearance means your lender temporarily paused or reduced your mortgage payments.)
    • Has your current lender started the foreclosure process by issuing a Notice of Default or Notice of Sale?
    • What is the scheduled date of the foreclosure sale?
       - -
    • Was ownership of the property transferred to you by means of a quit claim deed?*

    • For Your Information

      Quit Claim Deeds & Title Insurance

      Title insurance is a requirement for all lenders when lending money on a property. However, if the property was transferred through a quit claim deed, the title company responsible for your closing and providing title insurance will need to ensure that the title is clear of any liens. 

       
      This may involve obtaining an affidavit from the person who deeded the property over to you and potentially requiring them to be present at the closing. If that person has passed away, any potential liens will need to be cleared through probate before the title company can issue title insurance and the loan can close.

       

       

    • Do you have property insurance?*

    • Property Insurance is required for any real estate loan to be funded.  All applicants must provide proof of property insurance prior to closing.

      Please note that it is your responsibility to obtain and maintain property insurance coverage for the duration of the loan agreement. 

    • Do you have a rent roll for this property?*


    • A rent roll is a document used in real estate that provides an overview of a rental property's rental income, rental expenses, and tenant information. It is commonly used by landlords, property managers, and real estate investors to keep track of their rental properties and make informed decisions about their investment strategies.

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    • How would you describe the condition of the property?*

    • REFI Calculations

    • Your current loan-to-value (LTV) is {ltv84}%.

      Most lenders offer financing between 65% and 75% LTV for investment properties.

    • PROPERTY REFINANCE SECTION END 
    • Purchase ONLY SECTION - START 

    • Purchase & Rehab

    • FYI - Purchase Loan and Fix & Flip Loan

      1. Purchase Loans and Fix & Flip Loans typically lend up to 80% of the purchase price. 

      2. Borrowers must provide 20% as a down payment and an estimated 8-13% for closing costs.

      3. Some lending partners may roll closing costs into the loan if there is enough equity and it meets their loan-to-value requirements.

      4. It is recommended to have at least 20% of the purchase price in reserves.

      5. Reserves can be in the form of cash, stocks, lines of credit, or equity in another investment property.  Anything that the Borrower can liquidate.


      6. Proof of Funds will be required.

       

    • How many investment properties have you acquired in the past three years?
    • What type of investment property do you currently own? Select all that apply.
    • Do you already have a contract on this property?*
    • Do you need a Pre-Qualification Letter to present to buyer?

    • Got it!

      After submitting this application, you will receive a pre-qualification letter via email.

    • What is your exit strategy?*
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    • PURCHASE/REHAB CALCULATIONS

    • You will need a minimum of {20Down} in reserves to cover the down payment.

      Additional closing costs range from 8-13%

      🚦This is for Purchasing Properties ONLY
      Disregard if you are refinancing

       

    • What is your source of down payment?*
    • PURCHASE ONLY SECTION - END 
    • Guarantor Information

      Guarantor Information

      Tell Us About Yourself
    • Do you have a co-borrower?*
    • Format: (000) 000-0000.
    • Residency Type*
    • Date of Birth*
       - -
    • Date of Birth (HIDDEN FOR ARIVE)*
       - -
    • Do you currently rent or own?*
    • Did you rent or own at previous residence?
    • Do you have a different mailing addres?*
    • Marital Status*
    • Do you have dependents?*
    • How many years of formal schooling have you completed?*
    • What is your estimated credit score?*
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    • Co-Borrower General Information - START 

    • Co-Borrower Information

      Tell us about your co-borrower
    • Format: (000) 000-0000.
    • Does Co-Borrower currently rent or own?*
    • Is your Co-Borrower's home address the same as yours?*
    • Did Co-Borrower rent or own at previous residence?
    • Does Co-Borrower have a different mailing address?*
    • Is the Co-Borrower's mailing address the same as yours?
    • Co-Borrower Marital Status*
    • Does Co-Borrower have dependents?*
    • Do you and the Co-Borrower share the same dependents?
    • How many years of formal schooling has the Co-Borrower completed?*
    • How would your Co-Borrower rate their credit?*
    • Co-Borrower General Information - END  

    • Acceptable Forms of Government ID 

      1. Driver's License
      2. State ID
      3. Current Passport
      4. Permanent Resident Card

       

    • We need a copy of your Driver's License or Acceptable Government ID. You can either upload it or use the "Take Photo" option.*
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    • Co-Borrower Government ID Section - START 

    • CO-BORROWER IDENTIFICATION

    • We need a copy of your Co-Borrower's Driver's License or Acceptable Government ID. They can either upload it or use the "Take Photo" option.*
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    • End Co-Borrower Government ID Section 
    • What is your ethnicity?*
    • What is your Co-Borrower's ethnicity?

    • DISCLAIMER AGREEMENT

      1.  By signing below, you certify that all information and documents submitted in connection with this Credit Application is true, correct, and complete. This application does not guarantee you will qualify for a loan.

      2. The Funding Clinic, LLC is a loan brokering company. It does NOT engage in any direct lending and does NOT present itself in such fashion.  The Funding Clinic, LLC matches applicants with direct lenders and those lenders' partners. 

       
      3. By submitting this application, you authorize The Funding Clinic, LLC and its affiliates, partners, agents, and or assignees to make inquiries as well as obtain your credit report.

    • Today's Date*
       - -
    • Today's Date (HIDDEN - ARIVE)*
       - -

    • Have more deals/property scenarios to submit but don't want to fill out long applications?

      After completing this application, you will be able to submit your deals with a shorter form!  Best of all, you will receive an

      Instant Pre-Qualification Letter

      that you can use to make offers on properties.

      Check your email for the link after submitting your application.

    • How did you learn about us?*
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