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Loan Process

Action Capital Source has the ability to fund transactions quickly; however, the ability to fund transactions quickly is dependent upon the organization of the borrower and their property information.  In order to speed up the process of funding your loan transaction, please submit all of the following information.  You may click on any of the words that have links to access the document requested of you.  Your Loan Analyst can assist you with this process to make it easier on you.  Once we gather this information, the next transaction will be less paperwork, easier, and quicker! 

STEP 1:

  • Submit your signed Purchase & Sale Agreement

    • If you do not have your property under contract, you may download a Proof of Funds letter on our homepage and add this to your offer​

  • Copy of earnest money deposit check

  • Get your loan quote from us - same day

    • Review your options​

    • Make a choice

    • Sign and return the loan quote

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STEP 2:

  • Client/Broker Agreement

  • Application

  • Executive Summary

STEP 3:

  • Valid photo ID

  • Business entity documentation (if you do not have a business entity, work with your Loan Analyst to facilitate getting one setup)

    • Articles of Incorporation or Organization

    • Bylaws or Operating Agreement

    • Federal EIN or ITIN Document

  • Social Security Number

  • DNA Report

  • Bank statements for last 3 months of all your accounts (business & personal)

  • Copy of retirement account statements (if applicable)

  • 3rd party appraisal (lender will order this)

  • If property is a rental property, a copy of the lease agreement(s)

  • Scope of work with draw schedule

  • Contractor bid(s)​

    • Copy of contractor license and insurance

  • Preliminary title report

    • Need contact information for title/escrow officer

  • Hazard insurance binder

    • Covering the property and loan​

    • Need contact information

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