Dan J. Harkey

Master Educator | Business & Finance Consultant | Mentor

Hard Money Loan Submission Checklist

Here’s a Hard Money Loan Submission Checklist specifically designed for mortgage brokers working with private or non-institutional lenders. These lenders typically prioritize asset-based lending, speed, and clear risk mitigation.

by Dan J. Harkey

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✅ Hard Money Loan Submission Checklist

1.  Loan Summary

  • Borrower name(s) and contact info
  • Loan amount requested
  • Purpose of loan (purchase, refinance, cash-out, construction, etc.)
  • Requested terms (interest rate, term, points, interest-only or amortized)
  • Exit strategy (sale, refinance, etc.)
  • Broker compensation disclosure

2.  Borrower Information

  • Borrower profile or resume (especially for investors or developers)
  • Credit report (optional but helpful)
  • Personal financial statement (PFS)
  • Entity documents (LLC, Corp, Trust, etc.)
  • Schedule of Real Estate Owned (SREO)

3.  Collateral / Property Details

  • Property address and legal description
  • Property type (SFR, multifamily, commercial, land, etc.)
  • Photos (interior and exterior)
  • Appraisal or Broker Price Opinion (BPO)
  • Purchase contract (if applicable)
  • Title report or preliminary title
  • Environmental report (if required)
  • Zoning and land use confirmation (if relevant)

4.  Financials & Underwriting

  • Sources and uses of funds
  • Down payment verification (bank statements, etc.)
  • Rehab or construction budget (if applicable)
  • Rent roll and leases (for income-producing properties)
  • Operating statements (if available)
  • Exit strategy documentation (e.g., refinance pre-approval, listing agreement)

5.  Supporting Documents

  • Insurance binder or quote
  • Escrow/title contact information
  • Broker narrative or deal summary
  • Any third-party reports (inspection, engineering, etc.)
  • Signed loan application or 1003 (if required by lender)

🔒 Closing Statement: The Power of a Well-Prepared Loan Submission

In the world of private and hard money lending, speed, clarity, and credibility are everything.  A well-prepared loan submission package is more than just paperwork—it’s your first impression (e.g., a professionally formatted document with all necessary information), your underwriting roadmap (e.g., a clear and organized presentation of the loan’s terms and conditions), and your credibility statement (e.g., a complete set of supporting documents that demonstrate the Borrower’s financial health and the property’s value) all in one.  It allows the lender to quickly assess the opportunity, identify risks, and make confident funding decisions without delays or second-guessing.

By submitting a complete, organized, and transparent package, brokers not only increase the likelihood of approval but also build trust and long-term relationships with lenders.  In a fiercely competitive lending environment, the brokers who consistently deliver clean, thoughtful submissions are the ones who get their deals funded—fast and reliably.