Fairfield Financial Services, Inc. - Private Money Loans, Lending & Borrowing


When submitting a loan proposal, please include:

  • Residential loan application (1003) or equivalent (MUST BE SIGNED BY BORROWER)
  • Signed and completed Fairfield Disclosure Forms
  • Current tri-merge credit report (if loan is submitted by broker; if borrower submits directly, Fairfield will pull report)
  • Trio of subject property (or other type of detailed spec summary)
  • A good comp set, appraisal, or some other objective and transparent case for value
  • Photo(s) (if not included in an appraisal)
  • Cover sheet describing/summarizing parameters of loan
  • Preliminary Title Report(s) for all properties
  • Payment history on all loans encumbering the subject property (or properties)
  • Payoff quote on present loan(s)

If borrowing entity is corporation

  • Company financials (income statement and balance sheet)

If purchase

  • Valid executed earnest money agreement (contract to purchase)

If credit history is rough

  • Explanation of circumstances
  • Supporting documentation to show status of resolved items

If present loan is in default

  • Explanation of circumstances

If raw land or builder ready lots

  • Supporting documentation (government correspondence/code) to address development plan and demonstrate likelihood of completing development according to plan
  • Copy of zoning documentation and explanation of possible land uses
  • Description and status of utilities and access to the lots
  • May want signed affidavit from Borrower regarding completion status of lot(s)

If floating home

  • Copy of registration
  • Recent float survey
  • Copy of lease (if slip is leased) or owners certificate (if slip is owned)

If leased land

  • Copy of lease on land (or usage permit)

If 2nd or subordinate position loan

  • Copies of notes and Deeds of Trust for all superior loans
  • Payment histories and statements for all superior loans
  • Payoff statements for all superior liens

If construction/rehab loan

  • Summary of project
  • Builder credentials
  • Copy of contractor's License, bond and insurance
  • Detailed line item budget
  • Supporting documentation to backup detailed line item bids/estimates
  • Plans (if floorplan is new or changing)
  • Copies of permits already obtained

If Income Property

  • Copies of all leases and rental agreements pertaining to the property.