Prepared by Funding Your REI • FundingYourREI.com • 417-382-9450
This checklist helps real estate investors prepare a clean funding package before requesting loan terms. A complete package allows a broker or lender to review the opportunity faster, identify missing items earlier, and avoid unnecessary delays.
Funding Your REI acts as a funding broker. This checklist does not guarantee loan approval. Final terms, conditions, and documentation requirements are determined by the lender and may vary by program.
| Broker-safe rule: The faster you can explain the deal, prove the numbers, and provide the documents, the easier it is to match the project with a realistic funding option. |
1. Basic Borrower Information
| Done | Item | Notes |
| [ ] | Borrower legal name | Individual borrower or authorized signer |
| [ ] | Email and phone number | Best contact information for time-sensitive requests |
| [ ] | Estimated credit score | Useful for preliminary lender fit |
| [ ] | Available cash | Down payment, closing costs, reserves, and project funds |
| [ ] | Real estate experience | Number of flips, rentals, construction projects, or relevant experience |
| [ ] | Primary strategy | Flip, rental, BRRRR, refinance, cash-out, construction, or bridge |
| [ ] | Entity name, if applicable | LLC, corporation, trust, or individual ownership |
2. Entity and Ownership Documents
| Done | Item | Notes |
| [ ] | Articles of organization or formation | State-filed entity document |
| [ ] | Operating agreement | Shows ownership and authority to sign |
| [ ] | EIN letter | IRS confirmation letter, if available |
| [ ] | Certificate of good standing | Some lenders may require this |
| [ ] | Entity bank statement | Helpful when funds are held in the entity account |
| [ ] | Authorization to sign | Needed if signer authority is not obvious |
3. Property Information
| Done | Item | Notes |
| [ ] | Complete property address | Include unit numbers, city, state, and ZIP |
| [ ] | Property type | Single-family, 2-4 unit, condo, mixed-use, commercial, land, etc. |
| [ ] | Occupancy status | Vacant, tenant-occupied, owner-occupied, or partially occupied |
| [ ] | Purchase contract or payoff statement | Depends on purchase or refinance transaction |
| [ ] | Current photos | Exterior, interior, mechanicals, roof, kitchen, baths, problem areas |
| [ ] | Title company contact | Name, email, phone, and file number if opened |
| [ ] | Insurance contact or quote | Needed before closing and for payment calculation |
| [ ] | Taxes and HOA dues | Needed for PITIA and cash-flow calculations |
4. Deal Summary
Use this short summary to explain the opportunity in one place.
| Field | Investor answer |
| Property address | |
| Purchase price or current loan payoff | |
| Assignment fee, if any | |
| Estimated current value or as-is value | |
| Estimated ARV or completed value | |
| Estimated rehab budget | |
| Expected market rent | |
| Desired loan amount | |
| Available cash to bring to closing | |
| Exit strategy | Sell, rent, refinance, hold, or other |
| Target closing date |
5. Fix-and-Flip or Bridge Loan Items
For short-term acquisition, rehab, or resale projects, include documentation that supports the purchase price, repair budget, ARV, and exit strategy.
| Done | Item | Notes |
| [ ] | Purchase contract | Include all addenda and assignment documents if applicable |
| [ ] | Scope of work | Detailed repair categories and costs |
| [ ] | Contractor bid | Preferably written and itemized |
| [ ] | ARV comparable sales | Recent sold comps supporting the after-repair value |
| [ ] | Photos or inspection report | Show condition and needed repairs |
| [ ] | Projected resale timeline | Repair period, listing date, sale period, and expected payoff |
| [ ] | Builder or contractor contact | Useful for verification and draw planning |
| [ ] | Cash available to start work | Important because many rehab draws are reimbursement-based |
6. DSCR or Rental Loan Items
For rental loans, the funding review should show property income, payment obligations, occupancy, and long-term rental viability.
| Done | Item | Notes |
| [ ] | Lease or rent roll | For occupied properties or multi-unit rentals |
| [ ] | Market rent support | Comparable rentals or property manager estimate |
| [ ] | Taxes, insurance, and HOA dues | Needed for PITIA and DSCR calculation |
| [ ] | Current mortgage statement | Needed for refinance or cash-out request |
| [ ] | Payoff statement | Usually needed closer to closing |
| [ ] | Property management information | Helpful for out-of-area investors |
| [ ] | Rent deposit records | Helpful when proving actual rental income |
| [ ] | Reserve documentation | Bank statements or other acceptable liquid assets |
7. BRRRR Project Items
A BRRRR package needs to prove both the short-term rehab plan and the long-term rental refinance exit.
| Done | Item | Notes |
| [ ] | Purchase price and contract | Shows acquisition basis |
| [ ] | Rehab budget and timeline | Shows improvement plan and cost |
| [ ] | ARV comps | Supports future refinance value |
| [ ] | Rent comps or lease plan | Supports future DSCR or rental refinance |
| [ ] | Estimated refinance numbers | Expected value, LTV, loan amount, and cash left in deal |
| [ ] | Cash reserves | Needed for project delays and refinance requirements |
| [ ] | Backup exit | Sell, hold with cash in deal, or refinance at lower leverage |
8. Construction or Larger Project Items
For construction, heavier rehab, or larger commercial projects, lenders may require a more complete file before issuing terms.
| Done | Item | Notes |
| [ ] | Plans and specifications | Architectural or builder plans when applicable |
| [ ] | Permits or permit status | Shows readiness to begin |
| [ ] | Builder contract | Identifies the party completing the work |
| [ ] | Construction budget | Line-item budget and draw schedule |
| [ ] | Completed value support | Appraisal, comps, or broker opinion |
| [ ] | Land status | Owned, under contract, financed, or to be acquired |
| [ ] | Utilities and horizontal work | Water, sewer/septic, electric, road/access, grading, and sitework |
| [ ] | Borrower experience | Relevant construction or development track record |
9. Fast Preliminary Review Package
If the investor does not have every document yet, send the following minimum package to start a useful preliminary conversation:
- Property address
- Purchase price or current loan payoff
- Estimated repair budget, if applicable
- Estimated ARV or market rent
- Property photos
- Desired loan amount
- Exit strategy
- Credit score estimate
- Available cash or reserves
- Target closing date
10. Common Reasons Funding Reviews Stall
| Problem | How to prevent it |
| Missing address or contract | Send the full address and agreement early |
| Inflated ARV | Use conservative sold comps |
| Vague rehab budget | Use a line-item scope of work |
| No rent support | Provide lease, rent roll, or rental comps |
| No proof of cash | Gather recent bank statements or acceptable asset documentation |
| Title issues discovered late | Open title early when possible |
| Unclear exit strategy | Explain exactly how the loan will be repaid |
11. Broker Submission Notes
When sending a deal to Funding Your REI, keep the message short and complete. The goal is to make it easy to understand the opportunity quickly.
| Copy/paste: Suggested email subject: Funding Review Request – [Property Address] – [Strategy] |
Suggested opening: I would like a preliminary funding review for the property below. My strategy is [flip/rental/BRRRR/refinance/construction]. I have included the main numbers and attached the documents currently available.
Final Rule for Funding Packets
| Bottom line: A clean funding packet does not guarantee approval, but it helps the broker and lender see the deal clearly. Clear files get reviewed faster. Confusing files get delayed. |
Funding Your REI can help investors organize the file, identify missing items, and match the opportunity with realistic funding options.
FundingYourREI.com | 417-382-9450