Presidio Mortgage Inc. always takes special care when finding Real Estate loans for its investors. Presidio researches the title report, credit history of the borrower, and most importantly the property value when assessing the worthiness of the loan. Conservative valuations are used to determine a property’s loan-to-value ratio, and rental rates are analyzed to ensure comparable rates of return in the unlikely event of default.
In short, the Presidio team scrutinizes every loan as if we were using our own money to fund it. The question we always ask ourselves is, “would I put my grandmother in this loan?”
The documents you will receive in your lender’s package include:
- Credit Application: Shows employment, income, number of years at residence, and general borrower information.
- The Credit Report: Lists all open and closed past credit accounts to judge credit worthiness.
- Property Valuation Report: The real value of the properties are determined by comparable sales as reported by public record and multiple listing service information.
- Preliminary Title Report: Issued by a title company showing liens and trust deeds of record and other matters affecting title on the subject property. When the loan closes, the title company will mail you a full title policy issued in your name.
- Copies of escrow instruction, note and trust deed.
- Trust deed listing: Summarizes all pertinent information at a glance.
- Broker Disclosure: 6 page Department of Real Estate disclosure signed by a broker showing interest rate, term, conditions of loan, borrower information, payment history and loan to value ratio.