Important Documents You’ll Need For A Hard Money Loan


A private money or hard money loan has much lighter documentation than a bank loan. Depending on the hard money lender, some will require more items to close than others. Below is a list of the most common documents required to close a hard money loan:

  1. Purchase contract if it’s a purchase loan. If it’s a refinance loan, you’ll need a payoff statement from the existing lender.
  2. Preliminary Title Report to show clear Title to the property. The designated title company for the loan will provide this.
  3. 2 Forms of Identification if the borrower is an individual. If the borrower is a business entity, corporate documents or operating agreement. A Certificate of Good Standing with the Secretary of the State for the entity can also be required, if borrowing as a business entity.
  4. Proof of funds statement if it’s a purchase loan. The private money lender  wants to see that the borrower has enough funds for the down payment. A recent bank statement or other account statement(s) is usually sufficient.
  5. Proof of Insurance for property being purchased or refinanced.
  6. Optional Items can include a loan application, credit report, copy of lease and/or rent roll if a rental property.

Because each hard money lender has it’s own list of documents required to close a loan, please verify in advance of being pre-approved for the loan. This will save you time and help you get your hard money loan closed more quickly.

To get more information or obtain a pre-approval, click here.

About the author

Corey Curwick Dutton Corey Curwick Dutton, MBA Park City, Utah 2005 MBA Graduate with 10 years experience in Business Management including International Management. Corey is a Senior Private Money Consultant at Private Money Utah. Corey enjoys the great outdoors of Utah including, mountain biking, camping, hiking, and touring in winter. Google

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