The number one cause of delayed closings on private money loans isn't the lender — it's the borrower. Missing docs, outdated insurance quotes, entity paperwork that doesn't match — all of these kill timelines. Here's the complete checklist, organized by loan type, so you can submit clean from day one.
Universal Requirements (All Loan Types)
Government-issued ID for all guarantors. Entity documents: LLC Operating Agreement, Certificate of Organization, EIN letter. Credit authorization (lender will pull). Property address, purchase price or current value. Signed purchase agreement (for purchases). Property photos or inspection report. Insurance quote or binder.
DSCR / Rental Loans
Current lease(s) or Form 1007 market rent schedule. 12 months rent payment history (for existing tenants). Property tax bill (most recent). Mortgage statement on existing loans (for refis). HOA statements if applicable. 3 months bank statements showing reserves (most lenders want 6 months PITIA in reserves).
Fix & Flip / Bridge Loans
Line-item renovation scope and budget. Contractor bids (1–2 quotes). Recent comparable sales supporting ARV. Proof of prior renovation experience (photos from past projects, settlement statements from sold flips). Exit strategy documentation: listing agreement or DSCR refi approval if holding.
Construction Loans
Architectural plans and specifications. Engineered drawings (for structural work). Permits pulled or permit application submission. Signed construction contract with licensed GC. Insurance certificates from GC and all subs. Construction timeline. Full project budget with line items.
