Residential Fix/Flip, Fix/Rent, Rental Checklist

Pre-Approval Items Needed:

  • KCIF Application
  • Personal Financial Statement
  • 1 Month Bank Statement/Proof of Liquidity, HELOC, line of credit, etc
  • Tri-Merge Credit Report w/Scores (a self-pulled report)

Items Needed Once Property is Under Contract:

  • Purchase Contract w/Addendums or Amendments or Purchase Settlement Statement if a Refinance
  • Scope of Work/Construction Budget (Be as detailed as possible & sign)
  • Entity Documents (Articles of Organization/Inc, Operating Agreement, & Certificate of Good Standing, IRS EIN Letter)
  • Photo ID(s)
  • Insurance Coverage (Certificate of Coverage and Proof of Payment, Lender will provide mortgagee clause to have added to policy)
  • Appraisal (KCIF Orders it, Borrower Pays, $ varies per area)