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Updated 8 months ago,

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4
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David Smith
Pro Member
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4
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Questions about private lenders

David Smith
Pro Member
Posted

I just have some questions about working with private lenders. 
I have been reaching out searching for private lenders for real estate investments. I have finally found one I think that I can work with. Freedom Loan Services Corporation. I sent him the project details I had, he liked it. I filled out the application but have NOT given out any sensitive information yet. Like SSN or anything. Sounds like we are down to the last few items before wire transferring funds to me. He asked me for the following-

1: Company certificate (for companies only)

2: Drivers license/SSN

3: Utility bills

4: 1-3 months statement of account

5: Documents of the property to be used as collateral (if any)

6: Provide Loan origination cost for the processing and transfer of your loan funds 

7: Bank details for funding (closing)

I have their website, but how can I fortify myself so I’m not being scammed. What they are asking for seems pretty standard in regards to receiving a loan. But since this isn’t the traditional bank I can walk to down the street, what is to stop them from receiving my sensitive information and running off, stealing my identity, etc.

Thanks for reading!

  • David Smith
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