When you are looking to submit a deal to a private lender, its
important to review your client's application in full detail and provide
a comprehensive submission with clear, detailed, and accurate notes.
To assume a private lender will advance funds "no questions asked"
is only going to delay your application, or cause issues later on when
surprises come up. Your client will never get the best pricing this
way, either! Speed up your closings by providing documents upfront:
deals@cmiloans.ca
888-465-8564
www.canadianlending.ca
Use of Funds:
Debt consolidation, purchase, title transfer, etc
Application
Recent Credit Report
Creditor Payouts
Security information:
(Including but not limited to) Civic address
and/or legal description mortgage statements,
property tax statement, and recent status
certificate (if a condo)
Co-Applicant Information
Income Verification Documents
(i.e. pay stubs, employment letters, NOAs, etc)
HOW NOT TO SUBMIT A DEAL
Anything without supporting documentation, incorrect
calculations, or applications that aren't properly reviewed,
will cause serious delays in the process and headaches for all
parties involved. So let's make sure we have everything right
up front! Here are some examples of how everyone's time
can be wasted without proper review of submissions.
Example 1 - Incomplete submission
• No application
• No credit bureau
• No P&S agreement
• No proof of down payment
• No reason as to why income is not qualified
Hello Patrick,
Hope you are well, Here are the details for a new incoming deal:
Closing date: Aug 20, 2018
Price: $1,900,000.00
Down Payment: 25%
It's First- me buyer. And the Credit Score: very good
The Income: not qualified.
Can you review it and give me your Fee and rate, please?
Thank you,
