Getting ready to submit a hml request? Here's a tip...

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Here's a tip for working with hard money lenders

Complete all of the information possible when submitting your loan request to a loan. Be specific. Be detailed but don’t go overboard. Make sure all of the information is accurate and to the best of your knowledge. Inflating values, deflating scopes of work, or other incorrect submission mistakes will only cost you time and potentially money in the long run.

A lender cannot consider a deal unless the information is provided. Whether the submission lacks the complete subject property address, or omits the estimated ARV, or doesn't include the rehab (or indicates TBD), or doesn't include the information about the subject property (i.e. #beds, #baths, etc.), or a combination of any of these, chances are an incomplete submission to a lender is simply going to be ignored.

Do you have hard money loan questions or tips?