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  Case Study: Loan 1368 – Yossi | Refinance with Cash Out | Florida | Lender #2495

  Posted by Nadlan Group on May 8 at 00:03

  🏠 Case Study: Loan 1368 – Yossi | Refinance with Cash Out | Florida | Lender #2495

  When starting a DSCR cash-out refinance, many borrowers feel overwhelmed by the list of required documents. This case study explains exactly what each document is, why it’s required, and how the Nadlan Capital team guided Yossi and Martin step-by-step to prepare everything for closing.

  📄 Required Documents and Their Purpose
  1. 🧾 Loan Application

  The full business-purpose application includes borrower data, entity info, property info, ownership structure, net worth, and income details.
  Why it’s needed: It’s the foundation for underwriting. The lender uses it to assess borrower profile, entity structure, and financials.

  2. 📍 Point of Contact (POC) Form

  Breaks down three essential contact types:

  • 🏠 Appraisal POC: Who will meet the appraiser at the property.

  • 🧾 Title POC: The company handling the title search and closing.

  • 🏢 Insurance Agent POC: The contact who will issue and update insurance documents.
    Why it’s needed: Allows the lender to coordinate with the responsible parties.

  3. 🧠 Property Management Questionnaire

  Outlines who manages the property, how many properties are managed, default history, maintenance practices, etc.
  Why it’s needed: Helps verify that the income and operations are stable and well-managed.

  4. 🗂️ Property Management Agreement

  A formal contract with the property manager.
  Why it’s needed: Verifies oversight of tenant management. If self-managed, the questionnaire alone may suffice.

  5. 📃 Lease Agreements

  Signed lease between tenant and landlord.
  Why it’s needed: Validates rental income. If the loan closes in the LLC’s name, the lease must be under the LLC.

  6. 📊 Rent Roll

  A spreadsheet listing current tenants, rent amounts, lease terms, and status of payments.
  Why it’s needed: Shows total rental income and supports DSCR calculations.

  7. 🏛️ Entity Documents

  Includes:

  • 🧾 Articles of Organization

  • 🧾 Operating Agreement

  • 🧾 EIN Letter
    Why it’s needed: Verifies legal structure, ownership, and authority to borrow.

  8. 🪪 Government ID

  Driver’s license, passport, or other valid photo ID for each owner.
  Why it’s needed: Required for identity verification and compliance.

  9. 💵 Bank Statements (2 Months)

  Most recent 2–3 months of personal or business statements.
  Why it’s needed: To show cash flow, reserve funds, and rent deposit history.

  10. 📝 Letter of Explanation (LOE)

  Used if someone is being added/removed from the title or loan, or when changing ownership to LLC at closing.
  Why it’s needed: Adds clarity and documents exceptions or transitions.

  ✅ What’s Been Submitted vs. What’s Pending (as of latest update)

  • ✅ Articles of Organization – Received

  • ✅ ID – Received

  • ✅ Bank Statements (Jan–Mar) – Received

  • ✅ EIN Letter – Received

  • ✅ Leases – Received

  • ✅ POC Form – Received

  • ✅ Operating Agreement – Received

  • ✅ Loan Application – Received via SignNow

  • ✅ Rent Roll – Received

  • ✅ Property Management Questionnaire – Received

  • ❗ Property Management Agreement – Pending Submission

  🧠 Key Takeaways

  • 🧩 Every document plays a specific role in underwriting.

  • ✍️ If you self-manage your property, you still need to complete the questionnaire.

  • 🛠️ You can amend leases with simple addendums when converting ownership into an LLC.

  • 💬 Quick communication = faster approvals.

  Thanks to Yossi and Martin’s responsiveness and Nadlan’s clear guidance, this file moved swiftly to the appraisal stage and is now progressing toward closing.

  🌍 Tags:

  DSCR Loans, Loan Documentation, Rent Roll, Property Management, Refinance Process, Florida Real Estate, Real Estate Investing, Foreign National Loans, Nadlan Capital Group, Cash Out Refinance, Loan Processing, Property Underwriting

  📍 Hashtags:

  #DSCRLoan #Refinance #RentRoll #LoanDocsExplained #PropertyManagement #RealEstateInvesting #NadlanCapitalGroup #CashOutLoan #FloridaRealEstate #LLCStructure #UnderwritingTips #RealEstateLoans

  

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  Nadlan Group replied 5 days, 21 hours ago 1 Member · 0 Replies

  • Cash Out Refinance
  • DSCR Loans
  • Florida Real Estate
  • Foreign National Loans
  • Loan Documentation
  • Loan Processing
  • Nadlan Capital Group
  • Property Management
  • Property Underwriting
  • Real Estate Investing
  • Refinance Process
  • Rent Roll
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