From scenario to funded
No mystery, no black box. Here's the actual sequence, what we need from you at each stage, and where files typically slow down.
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Scenario & pricing
You send the property address, the rent, an estimated value, the loan amount you want, and a credit score range. We run it against the lenders whose guidelines it fits and come back with real structures — rate, points, LTV, prepay — rather than a single take-it-or-leave-it quote. Nothing here touches your credit.
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Pick a structure
This is the decision that matters most, and it's the one people rush. Points versus rate, interest-only versus amortizing, prepay term, LTV tier. We'll show you what each trade costs so you're choosing rather than defaulting.
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Application & documents
Now we collect the file: entity documents if you're vesting in an LLC, the lease or rent roll, insurance quote, asset statements for down payment and reserves, and authorization to pull credit. Still no tax returns, no W-2s, no pay stubs.
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Appraisal
The lender orders it; you pay for it up front. On 1–4 unit it's a residential form with a rent schedule attached. On 5–8 unit it's usually a longer commercial-style report — more expensive and slower, which is worth planning around if you're on a contract clock.
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Underwriting
The lender verifies everything and issues conditions. Conditions are normal — the file isn't in trouble because they came back. Speed here is almost entirely a function of how fast conditions get cleared, which is the part we push on hardest.
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Clear to close & fund
Final approval, closing documents to title, signing, and funding. You'll get a final settlement statement to review beforehand — read the prepay language and confirm the rate matches what you locked.
What actually delays a file
Almost none of it is underwriting being slow. It's information arriving late.
Insurance bound too late
The insurance premium is part of PITIA, so it's part of your DSCR. Getting a binder late doesn't just delay closing — a higher-than-expected premium can move the ratio and force a restructure days before funding.
Entity documents incomplete
Newly formed LLCs, missing operating agreements, members who haven't been disclosed, or a name on the purchase contract that doesn't match the entity on the loan. Cheap to fix at week one, painful at week four.
Appraisal comes in low
It moves your LTV and can move your program. Worth having a plan for before the report lands: more cash in, a lower loan amount, or a rebuttal with better comps.
Lease or rent roll disputes
A lease above market rent will get scrutinized, especially if the tenant is related to you. Month-to-month arrangements and unwritten agreements need documenting before underwriting asks, not after.
Have these ready and you'll move fast
| Stage | What to have ready |
|---|---|
| For pricing | Property address · gross monthly rent (or expected market rent) · estimated value · target loan amount · credit score range · entity or personal vesting |
| For application | Government-issued ID · entity articles and operating agreement · EIN letter · signed lease or rent roll · two months of asset statements · insurance agent contact |
| For underwriting | Insurance binder naming the correct entity · property tax bill · HOA statement if applicable · payoff demand on a refinance · rehab receipts if claiming an improved value |
Exact requirements vary by lender and program. We'll send you a specific list once a structure is chosen.
Ready to start at step one?
Send the scenario. Pricing costs you nothing and doesn't touch your credit.