General Underwriting &
Documentation Requirements
“We look forward to closing your loan, or if we can’t do it, giving you a quick no.”
Brock Freeman
Chief Operating Officer
Take a few minutes to review our process and what we require for each stage of underwriting. Investing a bit of time now can save you a lot of time later and help you close your loan faster and smoother.
4 Business Days
3 Weeks
High Close Rate
Loan Process Stages
Four stages from first scenario to closed loan. Click any stage to jump to its documentation requirements.
Stage 3 · For Term Sheet Underwriting
We close a high majority of the loans for which we issue Term Sheets. To evaluate the loan during Term Sheet Underwriting, we look for a loan request narrative outlining key facts, opportunities and risks, timeline and exit plan, the borrower and property financials and background (i.e., PFS & SREO, P&L / pro forma, rent roll) that should already be ready if the borrower is serious about moving forward with a loan, along with our full application online.
As a short-term bridge lender, our goal is for the borrower to successfully exit our loan by qualifying for the long-term financing that you as a broker transition them to. When we see that clear pathway, we move forward with issuing a Term Sheet.
We first send the Term Sheet to you, so you can check your fees and terms. After you approve, the Term Sheet is sent to the borrower, with you copied. Once the borrower approves, they pay the $995 Due Diligence fee and the property valuation fee.
Start Here
When you are ready for us to start Term Sheet Underwriting, here is what we need from every borrower.
- Our full loan application online (entries from your quick-app loan quote request will carry over)
- Loan Request Narrative — key facts, opportunities, risks, timeline, and exit plan 📎 Template & Guide
- Personal Financial Statement & Schedule of Real Estate Owned for each guarantor 📎 Template Investment: include 2-yr history
Investment Properties
Required Documents
- 12-month P&L (may be waived if seller refuses to provide) 📎
- Pro Forma — 2-year forward-looking forecast with income & expenses 📎
- Rent Roll 📎
Owner-Occupied Properties
Required Documents
Last year + current year-to-date for each:
- Business Cash Flow Statement
- Profit & Loss Statement
- Balance Sheet
Purchases
Additional Documents
- Purchase & Sale Agreement (required)
Uploading other documents you have on hand will help speed things up and lessen surprises post–Term Sheet.
Renovations
For renovation or partially completed properties, a recorded video walk-through may be required before Term Sheet issuance.
Video Specifications
| Format | One continuous, unedited recording (no stitched clips) |
|---|---|
| Type | Recorded (not live), date-verifiable |
| Scope | All interior & exterior areas |
Must Capture
- All units and rooms (360° view per room)
- Common areas, utility rooms, building systems
- Basement and attic (if applicable)
- Exterior façades, grounds, and roof (where visible)
Stage 4 · Due Diligence to Closing
We focus on flexible, unconventional, and creative loan solutions. We may take on more risk in certain areas, such as high vacancy in a property or poor borrower credit.
To counterbalance this, we look for offsets such as borrower "skin-in-the-game," property investment experience, liquid and semi-liquid assets that can be used if needed, and other mitigating factors.
We review the borrower's claims for a high say/do ratio. To balance risk, for example, the challenges on the property can be offset by a borrower with experience. Alternatively, for borrowers with financial or credit issues, including taxes, is there enough equity in the property to provide cash-out to solve these issues.
Kickoff Conference Call
To help you close faster and avoid surprises, we'll schedule a brief kickoff call with you and the borrower once the Term Sheet is signed and credit is reviewed. This call ensures everyone is aligned on next steps and remaining documentation before full underwriting begins.
What to expect: 20–30 minutes, all three parties (broker, borrower, KCG underwriter).
Outcome: a shared document checklist and timeline for the 3-week path to closing.
Entity & Personal
- Signed Borrower Authorization and Certification for each guarantor, plus IRS tax transcript authorization
- Last 2 years of Federal Tax Returns for each guarantor
- Last 2 years of Federal Tax Returns for entities required to file; for owner-occupied, also the income-producing entity
- Personal and entity bank or other liquid asset statements
- Entity legal formation and registration documents
Property
- Investment properties: lease agreements (or estoppels)
- Planned rehabs: rehab summary, budget, and plan; contractor renovation bids may be required
- Loan broker's written explanation of exit plan, including target lender name and program (not required on multifamily)
- Property & general liability insurance coverage; builder's risk coverage as necessary