The Art of the Summary

The Art of the Summary

Between phone calls, emails, and on-line submissions, we receive a tremendous amount of loan requests. It's pretty common for these loans to have tight deadlines, so here are three ways to speed up the process.

1) Use the on-line proposal form and provide all the applicable information. This form can be accessed through our web-site @ This form provides us with everything we need to know to issue you a quote. It's very effective.

2) Leave a description of the loan transaction in a voicemail. I've spent days playing phone tag with brokers, only to find out that they were looking for a loan in a state that we didn't lend in. If we get a detailed voicemail, and have to leave a message back, we can still make progress and answer some questions that will help speed up the process.

3) Send me an email with a summary of the loan. This can be an efficient way to submit a loan request, and we can evaluate a good summary very quickly. However, that's not always the case. If the information is lacking or hard to find, it will delay the process. We’re looking for an outline of the loan request, not pages of reading material. Here’s a list of information that we like to see:

The Property

  • Property address
  • Specs on the property (MFR, SFR, Square Foot, # of units, NOI, etc…)
  • Purchase Price / amount owed
  • As-Is Value and ARV
  • Amount needed for repairs (if applicable)
  • Amount of money invested so far

The Borrower

  • Monthly income
  • Net worth
  • Credit score
  • Relevant experience

The Loan

  • Broker fees
  • Net amount of funds required for the borrower
  • Amount available for down payment
  • Use of funds
  • Closing Deadline
  • Requested Term
  • Exit Strategy (This is very important)

A good summary should highlight the features of the loan without the reader having to hunt for information. By providing this information in a clear concise format, it will speed up our review time and ultimately close loans faster.

-Kris Gilmore