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pre submission form

Venture Capital Intl.

10 Stockyard ct.
New Milford ct 06776

(860)350-4440
 
PRE-SUBMISSION FORM
 
Date:____________________                            From:          Cell:
 
 
Broker:______________________________________________________  Phone:______________________ Ext.________
 
Loan officer: _______________________________E-mail:_____________________________________________________
 
Property address:______________________________________________________________________________________
 
City:__________________________________________________________  State:_____________  Zip:_______________
 
Borrower:____________________________________________________________________________________________
 
Title to be held in what legal name:________________________________________________________________________
 
Type of owner/entity: individual  corporation  LLC  trust  other:_____________________________________
 
 
Property type:   multi-family    office    retail    office condo    office-warehouse    mixed-use    lot
 
                       other:_______________________________________________________________________________
 
 
Loan program:                fully documented                          stated income
 
Loan purpose:              purchase     rate/term refinance    cash out refinance 
 
Loan amount: $______________________ 
 
If a purchase, contract  closing date is:_________________   Purchase price and/or current value: $____________________
 
Occupancy:   owner-user (must occupy at least 51% of space)    investor
 
If cash out,  purpose for cash out:_________________________________________________________________________
 
If refinance, current balance: $___________________ Current mortgage holder:___________________________________
 
Does current mortgage have a balloon?:       yes     no                        If yes, when is balloon due?:________________
 
Does current mortgage have a prepayment penalty?:  yes   no          If yes, what is the penalty?: $________________
 
If refinance, when was property purchased?:____________________    Original purchase price: $______________________
 
Borrower’s credit scores: ______     ______     ______                   Co-borrower’s credit scores: ______    ______     ______
 
 
Total # of rental units in subject: ___________                           How many of the units are currently rented: ____________
 
If mixed-use, how many of the units are apartments: ____________
 
Describe type of retail tenants, if applicable:_________________________________________________________________
(i.e.- dress shop, pizza parlor, hardware, etc.)
 
Total rentable S.F. in subject: ______________               Does one tenant occupy more than 30% of total:  yes       no
 
Will borrower occupy any portion of building:  yes     no               If yes, how much square footage:________________
 
Borrower is in what type of business:______________________________________________________________________
 
Borrower’s ANNUAL income: $___________________                   If self-employed, since when:_______________________
 
 
 
 
1)  What is the verifiable gross MONTHLY rent collected for all occupied units:                                                        $______________
 
2)  If owner-user, what is the fair-market-rent value of owner’s space:                                                                      $______________
 
     (__________square footage   x   $___________ per square foot)
 
3)  Estimate ANNUAL operating expenses (taxes, insurance, utilities, repairs, management, etc.):                            $______________
 
 
NOTE:   SOME PROGRAM OPTIONS LIMIT HOW MUCH BROKER MAY CHARGE
 
Broker’s fee requested:  $__________________            (___________points)
 
Any additional fees: $_________________   Explain:__________________________________________________________
 
 
 
 
Additional comments:___________________________________________________________________________________
 
____________________________________________________________________________________________________
 
____________________________________________________________________________________________________
 
____________________________________________________________________________________________________
 
 
 
When submitting your loan, please take the time to provide legible, complete copies of initial documentation.  Typically, initial documentation may consist of some or all of the following
 
1)      Current tri-merged credit on all borrowers
2)      “Pre-Submission” form  *
3)      1003 signed and dated (stated income loan requests)
4)      Personal Financial Statement & Real Estate Schedule * ( all full doc loan requests)
5)      Certified Rent Roll  *
6)      Operating Statement  *
7)      Digital photos  (front, street, interior)
8)      Application fee of 650.00

 
·        Forms will be provided.   Call or e-mail a request for work forms.
 
 
 
Some suggestions and hints:
 
1)      Your initial file submission should be limited to those few items suggested above. 
2)      Please be sure that all forms submitted are legible and complete including but not limited to signatures and dates.
3)      Upon review of your initial file submission, underwriting may have additional document requests.
4)      Do not assume; do not guess.  If you have additional question please feel free to contact us at anytime.
 
 
 
 
 
 
 
Thomas Duffy.
(203)775-9999


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