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Hard Money Loans - 1003 Application

Hard Money Loan Application The revised 2006 Uniform Residential Loan Application, Form 1003, is available in the following format:

HardMoneyCentral.com loan application
"1003" interactive application form -
Please fill out this interactive 1003 app online, then print it out and fax to 201-581-0416.

The application consist of 4 pages.

The Adobe PDF version retains the standard formatting of the 1003 form. However, viewing the PDF document will require the use of a special viewer.

If you do not have Adobe Acrobat Reader, you may download it here for free - .

Please Note: The Uniform Residential Loan Application Form 1003 is a legal size document. Please print on legal size paper or shrink to letter size.

Hard Money Loan Request

Part 1, Borrower Information

Principal(s)/Guarantor(s) Name(s) :

Address:

City:

State:

Zip:

Country:

Telephone:

Cell Phone:

Fax:

E-mail:

Credit Score (If Known) :

Borrowing Entity:

Corporation

LLC

Partnership

General Partnership:

List all general partners

Limited Partnership:

List all general partners & any limited partner with an interest of 20% or more (specify managing general partners)

Corporation:

List all shareholders or beneficiaries owning 20% or more of the corporation's stock. Indicate the % or number of shares owned.

Name:

Role:

Interest%
or No. of
Shares:

Name:

Role:

Interest%
or No. of
Shares:

Name:

Role:

Interest%
or No. of
Shares:

Name:

Role:

Interest%
or No. of
Shares:

Name:

Role:

Interest%
or No. of
Shares:

Part 2, Commercial property Information

Property Address:

State:

Zip:

Property Description:

Mixed Use

Retail

Industrial/Warehouse

Office

Mini Storage

Medical Office

Hotel/Motel

Mobile Home Park

Land

Other

Property Type:

Requested Loan Amount:

Acquisition?

Yes No

If acquisition, what is the purchase price?

How much cash is the borrower putting down?

Refinance?

Yes No

If refinance, what was the original date of acquisition?

What was the original purchase price?

How much cash has borrower put in?

What is the as-is value?

What is the improved value?

Purpose of Refinance:

Is current loan(s) in foreclosure?

Yes No

Is borrower in bankruptcy?

Yes No

If yes, explain situation:


Current Debt	Mortgages	Current Bal.	Maturity Date	Rate	Recourse
1st Mortg.					Yes	No
2nd Mortg.					Yes	No
Other					Yes	No
Other					Yes	No

Sources and Use of Funds

Sources	Amounts
Loan Amount
Borrower cash		Source:
Additional Sources		Source:
Total Sources
Uses
Existing 1st Mortg.		Lender
Existing 2nd Mortg.		Lender:
Capital Improvements
Closing Costs
Other		Description
Total Uses

Additional information or circumstances:

What is the exit strategy for this loan?

Has this loan been shopped to other lenders? If so, to which lender(s), and what is the status?

Are there commitments made by other lenders? If so, who?

Broker/Consultant submitting this summary:

Name:

Email:

Office Phone:

Cell Phone:

Borrower Information Needed:

Recent personal financial statement (within 60 days), resume, and schedule of real estate owned for principal(s) of borrower.
Previous two years’ personal tax returns for principal(s) of borrower.
Previous two years’ corporate tax returns for borrower’s entity.
Broker/Consultant fee agreement with borrower and borrowing entity.
Borrower resume and background.

Commercial Property Information Needed

Contract of sale (if purchase).
Recent MAI appraisal (if available).
Environmental report (if any).
Digital photographs, survey, building plans, and or renderings of property.
Rent roll (projected, if applicable) for the property. Include copies of leases.
Income statement for the last 2 years and year to date.
Comparable sales and rental data.
Pre-sales agreements.
Documentation of equity invested to date in project and source.
Projected pro forma until stabilization and/or sellout for the property.
Engineering reports, market or feasibility studies and marketing plan.
Construction and development permits and applicable government approvals.
Maps of region, district ad neighborhood.
Copy of current real estate tax and water and sewer bills.
List of the project staff and description of their responsibilities (administrator, attorney, architect, engineer, GC, sales and marketing etc.), if applicable, together with their resumes.
Contractor agreement.
Detailed description of the proposed improvements and amenities, if applicable.
Detailed construction budget (including all acquisition, hard, soft, carrying financing costs, prepared monthly), if applicable.
Detailed timeline for the acquisition (if applicable), pre-development, and development.
Co-op or condominium offering plan, if applicable.

Third party reports can be submitted at a later date. Based on our review of the information in the package we may request further documentation.

After we review this data, we will contact you expressing our level of interest. If we feel it is a loan request that meets our lending criteria we will email you a term sheet.


Please be advised that misinformation or erroneous information will be grounds for denial. For Income Producing Properties, please provide the following: Current and prospective rent roll on separate Excel spreadsheet. Include income & expense report statement for the past two years and year to date.