At Visio Lending, we pride ourselves on being a low-doc, investor-friendly lender. We do not require personal income statements or tax returns. Here is what we require:
- Government issued photo ID
- Proof of hazard insurance
- Full-executed purchase contract- closing date must be ten days out from sent to processing date
- Asset verification. We utilize a third-party asset verification to verify assets and will send you an asset verification request once your loan is in processing. If your bank does not participate, we will require the most recent two month’s bank statements. Pro tip- include all pages, even blanks ones
- Copy of current lease (if property is leased). If lease is expired, obtain confirmation lease is month to month
- Business Entity Docs (for corporate entities):
- EIN Number Document
- Certificate of Good Standing
- Article of Organization/Formation
- Two forms of ID for each person in the company
- Email listing for all entity participants:
- Members- Required
- Managers (If any)
- Ownership percentage of each person
- Other officers with their tiles (President, Secretary, etc.)
Our loan programs are tailored to meet investors’ needs, which is why we look at the monthly cash flow of the property rather than personal income. Our DSCR calculation allows us to see the difference in the expenses of the property compared to the income. We also lend to LLCs to enable investors to protect their identities and other assets, and we keep our document requirements low to keep our process fast, simple and dependable. For more information on our requirements, check out our FAQ Page. For investor resources and tips, visit our Resources Page.
Related: An Overview of the Visio Box, 3 Visio Investor Strategies