Documentation Requirement

• Please fill out and sign the attached 1003 application

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• Copy of Driver License and Passport

  • For the non-US citizen, please provide a green card.

  • Foreign nationals please provide a travel visa.

• Provide leases

  • Provide 1 Month Rent Proof with Bank Statement, Cancel Check, or Payment App (no print screen)​

• Please sign off on credit authorization (no credit will be run)

  • Please disclose the borrower's credit condition such as credit score.

• For two of the past five years, do you own any other investment property? 

  • Is the subject property under management by a Property Management Company

  • If self-manage, can you provide 24-month deposit prove with cancel check or bank statement, or Schedule E

    • Please note, it does not impact our ability to lend. There is a Loan to Value adjustment.

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• If this is a purchase, please provide a purchase contract

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• If this is a refinancing, please provide the most recent bank statement

  • Will need a payoff letter at the time of closing.

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• If the property is part of the HOA association

  • Confirm the number of units sold, % of ownership

  • Require HOA by-law

  • Please provide the most recent HOA statement​

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After the information received, Essencap will provide a term sheet disclosing rate, term, and other loan conditions.