Nirvana Capital Co. Property Approval Application
Please complete with accurate information regarding your loan request. Your Loan Officer will be in touch within 24 hours of submission. Please reach out directly for time sensitive loan requests at 866-640-7770. Visit our website at www.nirvanacapitalco.com and www.nirvanacapitalco.com/privacy-policy to view our Privacy Policy.
Application Submitted By:
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Investor/Borrower
Broker
Real Estate Agent
Loan Officer
Other
How did you hear of us?
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Repeat Borrower
Facebook
Referred
Google
Networking Event
Instagram
Direct Contact
LinkedIn
Other
Who referred you to us?
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Insert referral source, name of broker, or name of referee.
Borrower Information
Name
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First Name
Last Name
Email
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example@example.com
Phone Number
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By entering your telephone number, you are providing consent to receive automated telephone calls or text messages to the number provided. Consent is not a condition of purchase. Message and data rates may apply.
Borrower Mailing Address
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Street Address, City, State, and Zip Code
Street Address Line 2
City
State / Province
Postal / Zip Code
Do you own or rent your primary residence?
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Own
Rent
Live Rent Free
Date of Birth
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-
Month
-
Day
Year
Estimated Credit Score
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Citizenship
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US Citizen
Non-US Resident (Foreign National)
Visa Holder
Entity Type
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Limited Liability Company
Corporation
Limited Partnership
TBD/Not formed yet
Entity Name
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Enter "TBD" if not yet formed
Entity EIN Number
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Entity Ownership Percentage
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Enter your membership % in entity or NA if unsure
Co-Borrower?
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YES
NO
Co-Borrower Name
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First Name
Last Name
Co-Borrower Email
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example@example.com
Co-Borrower Phone Number
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By entering your telephone number, you are providing consent to receive automated telephone calls or text messages to the number provided. Consent is not a condition of purchase. Message and data rates may apply.
Co-Borrower Mailing Address
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Street Address, City, State, and Zip Code
Street Address Line 2
City
State / Province
Postal / Zip Code
Co-Borrower Estimated Credit Score
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Co-Borrower Date of Birth
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-
Month
-
Day
Year
Co-Borrower Citizenship
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US Citizen
Non-US Resident (Foreign National)
Visa Holder
Entity Ownership Percentage
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Enter your membership % in entity or NA if unsure
Property Information
Subject Property Address
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Street Address
Street Address Line 2
City
State / Province
Postal / Zip Code
Purpose of Loan
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Purchase
Refinance (rate/term)
Refinance (cash-out)
DSCR Closed 2nd
HELOC (NY, NJ, PA only)
PLEASE NOTE
HELOC's are only available in PA, NY, & NJ where loan officer, Caitlin Davis NMLS 2032819 is licensed and sponsored by Cliffco Mortgage Bankers. Member of Cliffco Mortgage Bankers. Cliffco Mortgage Bankers NMLS ID# 65328. Licensed Mortgage Banker NYS Dept. of Financial Services Not intended to solicit loans in states I am not licensed in Cliffco Mortgage Bankers. Equal Housing Lender. This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Cliffco Inc. DBA Mortgage Bankers NMLS ID# 65328 Licensed Mortgage Banker NYS Dept. of Financial Services. 70 Charles Lindbergh Blvd, Suite 200 Uniondale, NY 11553. THIS SITE IS NOT AUTHORIZED BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES. NO MORTGAGE LOAN APPLICATIONS FOR PROPERTIES LOCATED IN THE STATE OF NEW YORK WILL BE ACCEPTED THROUGH THIS SITE NIRVANA CAPITAL CO. IS NOT AFFILIATED WITH CLIFFCO MORTGAGE BANKERS
Are you in contract?
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Yes - sales contract signed
Offer submitted/negotiating
No
Source of Purchase
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MLS/Agent
Off Market
Wholesaler
Auction/Short Sale Etc.
Other
Is this an arms-length transaction?
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I do NOT know the seller
I know the seller (family, business partner, friend, etc.)
Not sure
Property Type
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Single-Family
2-4 Unit Residential
Warrantable Condo
Non-Warrantable Condo
5+ Residential Units
Portfolio (2+ properties)
Mixed-Use
Office
Other
Loan Type
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DSCR (Rental loan)
Fix and Flip (or Hold) Loan
Ground Up Construction Loan
Bridge Purchase or Refinance (No construction)
Renovation Type
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Light/Cosmetic Rehab
Medium Rehab
Heavy Rehab
Expansions & Conversions
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Standard full gut reno
Adding square footage
Adding more units
Converting to a different property type
Rental Loan Program
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30 Years Fixed
ARM (5/6, 7/6, or 10/6)
Interest Only
Interest Only + ARM
Bridge/Construction: Exit Strategy
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Refinance/Hold
Sell
Considering Both Options
Number of Units
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How many properties are included in this portfolio?
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Units Currently Occupied
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Units Currently Vacant
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Total Square Ft.
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Square Ft. of Commercial Space
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Purchase Date
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Month
-
Day
Year
Date property was acquired
Requested Close Date
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-
Month
-
Day
Year
Date
Purchase Price
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As-Is Value
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Sunk Costs
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Soft costs + hard costs spent to date
Construction Budget (total or remaining)
Enter the total (or remaining) construction budget
After Repair Value
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Estimated value after renovation/construction
Requested Loan Amount
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The total loan amount you are requesting
Payoff Amount
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Any liens that will need to be paid off at closing
Current Monthly Payment
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Total monthly payment on 1st mortgage including taxes & insurance.
Current Interest Rate
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Current Lender and/or Servicer
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Is property tenant occupied?
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Yes
Pending - Lease Signed
No
Gross Monthly Rent
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How much tenant(s) are paying
Area Market Rent
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The market rent for similar properties in the area
Annual Property Taxes
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Annual Insurance Premium
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Annual HOA Dues
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Annual Operating Expenses (R&M, Vacancy, Management, etc.)
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Cash-Out Explanation
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Please describe what you intend to do with the proceeds of your cash-out refinance
Financial Information
Source of Down Payment (select all that may apply)
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Seasoned funds (60+ days) in checking or savings account.
Unseasoned funds, can be sourced.
Funds to close contingent on closing another transaction
Gift
Other
Liquidity (Cash on Hand)
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Do you have additional reserves? If so, how much?
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This includes savings accounts, stocks, 401K, etc.
Annual income
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Income source (self-employed, W2, etc.)
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How many rental properties do you own?
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Must be on named on the deed or HUD to count as experience. Certain exceptions for licensed GC's.
How many renovations have you completed last 3-5 yrs.?
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Must be on named on the deed or HUD to count as experience. Certain exceptions for licensed GC's.
How many new construction projects have you completed last 3-5 yrs.?
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How many projects have you sold in the last 3-5 years?
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How many multifamily (5+ units) and/or mixed-use deals have you completed?
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Are you any of the following?
Licensed General Contractor
Licensed Real Estate Agent
Declarations
Are there any outstanding judgements against you?
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Yes
No
Yes, Co-borrower
Have you been declared bankrupt within the last (7) years?
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Yes
No
Yes, Co-borrower
Have you or any other entity of which you were/are a principal been in foreclosure or had any property that was foreclosed upon?
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Yes
No
Yes, Co-borrower
Are you a party to a lawsuit?
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Yes
No
Yes, Co-borrower
Are you presently delinquent on any federal debt or any other loan, mortgage financial obligation, bond, or loan guarantee?
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Yes
No
Yes, Co-borrower
Have you been convicted of a felony in within the past 10 years?
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Yes
No
Yes, Co-borrower
Do you intend to occupy the property as your primary residence?
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Yes
No
Are you a US Citizen?
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Yes
No
No, Co-borrower
Has the subject property been inspected or tested for environmental hazards (lead, asbestos, underground tanks, etc.)?
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Yes
No
Document Upload (Optional)
Browse Files
Drag and drop files here
Choose a file
Please upload any documents pertinent to your loan request, here.
Cancel
of
Please provide any important information about yourself, or the transaction, that we should know.
This includes any property specific details, judgements, liens, background, general comments, etc.
Draw Signature
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Today's Date
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Month
-
Day
Year
Date
Save
Submit
ACKNOWLEDGEMENT & AGREEMENT
Each of the above signed specifically represents to Nirvana Capital Co. (“Lender”) and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, lending partners, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth above and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property(ies) described in this application; (3) the property(ies) will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a non-owner occupied business purpose mortgage loan; (5) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (6) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (7) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (8) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as m ay be required by law; and (9) my transmission of this application as an "electronic record" containing my " electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature. E-Sign Consent. By executing this application, the undersigned consents to having all documents and disclosures provided or made available in electronic form and to doing business with us electronically. The undersigned also consents and agrees to the use of electronic records and electronic signatures in connection with transactions with us instead of written documents and handwritten signatures. Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its brokers, processors, servicers, lending partners, successors and assigns, may (1) verify or reverify any information contained in this application or obtain any information or data relating to the Loan, including but not limited to consumer credit reports and background reports, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency, and (2) authorizes the owner of the Loan to release, furnish, provide, and exchange information related to the Loan, mortgage or information set forth herein to potential loan purchasers, and the Lender’s online platform investors (“Authorized Third Parties”). GOVERNMENT NOTICES: The Federal Equal Credit Opportunity Act prohibits lenders from discriminating against loan applicants on the basis of race, color, religion, national origin, sex, marital status, or age (provided applicant has the legal capacity to enter into a binding contract); or because of or part of the applicants income derived from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with this law concerning this Lender is the Federal Trade Commission, 225 Peachtree Street NE, Atlanta, GA 30303. 877-FTC-HELP, https://www.ftc.gov/about-ftc/bureaus-offices/regional-offices/southeast-regionRight to Receive an Appraisal: You have the right to receive a copy of any appraisal report obtained in connection with this application. If you would like to receive a copy, please write to us at 33 Nassau Ave. Fl 2 #1 Brooklyn, NY 11222. We must hear from you no later than 90 days after the date that we notify you of the action taken on your application or that you withdraw your application. In your letter, please provide your name and mailing address, as well as the address of the property on which the appraisal was performed. If you have not previously paid for the cost of the appraisal, you will be required to do so before your request is fulfilled.
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