Processing Kickoff Form Loan Number * Ensure this is correct for us to associate to the right loan. This can be found on your Term Sheet. Property Street Address * Confirm the correct legal address of the property address for this loan Address 1 Address 2 City State/Province Zip/Postal Code Country Confirm the Property Type * Single Family Residential Townhouse, duplex, rowhouse Condominium Unit 2-4 Unit Multifamily Full Legal Name * As shown on your government issued ID First Name Last Name Confirm your Mailing Address * Street, City, State, Zip: This address will be used to send your insurance and loan notices, so please ensure it is your primary mailing address. Address 1 Address 2 City State/Province Zip/Postal Code Country How did you source this property? * Prior to final approval we need to identify if this is an arm's length transaction. An arm's length transaction is a business deal that involves parties who act independently of one another. Both parties involved in an arm's length sale usually have no relationship with each other. Please describe how you sourced the property (through a real estate agent, direct to seller, through a wholesaler, etc). Assignment Fee Acknowledgement * Please acknowledge the following statement: Assignment fees are permitted; however, we will only include an Assignment Fee up to 15% of your purchase price in the Cost Basis to calculate LTC. Any portion of the Assignment Fee above 15% cannot be financed by the loan and shall be paid by you at closing. Assignment fees refer to costs incurred when assigning a purchase contract or executing a 'double close,' where a property is purchased and resold at a higher price on the same day. I acknowledge Please contact me Has any individual associated with this loan ever been convicted of a Violent or Financial Felony? * Yes No In the past four years, has any individual associated with this loan experienced any of the following: bankruptcy, foreclosure, short sale, loan modification, notice of default, deed in lieu of foreclosure, judgment, tax lien, lis pendens, or a felony conviction (including any pending cases)? * Yes No Are all individuals that are associated to this loan either a US Citizen or Permanent Resident Alien * Yes No Closing Date * Please confirm the closing date you are expecting MM DD YYYY Who Will Be The Point Of Contact For the Appraisal Scheduling Ensure this contact is aware that the inspection needs to be scheduled as soon as possible in order to avoid any delays in closing Please contact me This will be handled by someone else and I will provide their contact details What Type Of Liquidity Will Be Used For This Project * Select ALL that apply - minimum qualifying liquidity requirement is cash to close + 3 months reserves of interest payments. Business Checking/Savings Personal Checking/Savings HELOC (available credit) Money Market Account CASH in brokerage accounts Gap Funding Trust Account (Reserves Only) Individual Brokerage Accounts - non retirement (Ineligible) - retirement, crypto, foreign currency, any account that cannot be linked to the borrowing entity or guarantor Are there any challenges or complexities with meeting the liquidity requirement that we should be aware of?* During processing you will be required to show two months of bank statements + any additional supplemental documents to verify the required liquidity. Please describe below if there are any challenges or complexities that we should be aware of Estimated Repayment Timeline * Please provide your initial estimate of how long you anticipate the loan will take to be repaid. Keep in mind that an extension is not always guaranteed. Exit Strategy * Please provide detailed information about your exit strategy. Ensure that your explanation is thorough, as this will enable the underwriter to make an informed assessment. Acknowledge you understand MWYATT INVESTMENTS is the broker in this transaction and you are applying for a loan to be provided by Double Backflip, LLC I acknowledge Please contact me Acknowledge that this loan is a Dutch Interest Loan * A Dutch Interest Loan is a type of loan where interest is calculated on the total original loan amount rather than the outstanding balance I acknowledge Please contact me Acknowledge that your Insurance Premium will be due at or before closing * I acknowledge and we prefer this to be paid at closing I acknowledge and we prefer this to be paid prior to closing and will provide a paid in full recipt Are There Any Additional Details That Your Processing Team Should Be Aware Of? Please provide your social security number * Date of birth * MM DD YYYY Marital Status * Unmarried Married Credit and Background Check Acknowlegement * I authorize the lender to check my credit and background report. This will be a soft pull initially to ensure you qualify, but will require a hard pull once we are in processing I acknowledge I do not authorize a credit or background check Confirm you do not plan to occupy the property * I confirm Please contact me Confirm your citizenship status * US Citizen Permanent Resident Alien Non Permanent Resident Alien Are you aware of any outstanding judgements against you? * Yes No Are you currently delinquent or in any default on any federal debt or any other loan, mortgage, financial obligation, bond, or loan guarantee? * Yes No Do you have any active lawsuits against you? * Yes No Do you currently have or previously had any property tax liens? * Yes No Have you declared bankruptcy in the past 7 years? Yes No Have you directly or indirectly been obligated to any loan which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgement? Yes No Please provide more details if you answered "yes" to any of the above By submitting this form, you acknowledge that everything is true and correct to the best of your knowledge. If pre-approved, you authorize us on your own and not as representative of any entity to do an initial "Soft Pull" of credit and once approved to complete a "Hard Pull" on your credit report and limited background check * Prior to completing this form please ensure that your Credit is unfrozen. If we have to repull credit due to it being frozen there will be an additional $25 charge I agree Electronic Signature * Please type your full legal name Thank you!
