Home Loan Proposals

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Contrary to the number of resources accessible for securing conventional bank loans, you may find it challenging to track down helpful resources in the approval process for hard money loans. Even though private money lenders have fewer requirements and more lenient criteria for application and approval, there are still some essential things to know before approaching them with your hard money loan proposal.

1. Present an Executive Summary

This is an essential consideration that is often overlooked. The executive summary is a straightforward, concise summary of the project, which includes the borrower’s plan and exit strategy. It should detail the time and money needed to complete the project. It needs to be concise while still covering all the bases.

Include the executive summary in your correspondence with the lender and reference it frequently. Simply put, your executive summary should serve as an introduction to the project or contract for which you are seeking funding and provide context for the other documents.

2. Give the Lender Some Background About Yourself

Private lenders prefer to put a face to a loan application, so make sure to include a resume detailing relevant expertise in the proposed project. Of course, you will also need to file the standard loan application and financial information like copies of your tax returns and credit reports.

3. Show Your Lender the Home

If you want your lender to invest in your project, you must give them a clear picture of what they’re getting involved in. This doesn’t necessarily mean taking them to the site but providing them with photos, financial documentation, and appraisals. Include a Broker’s Price Opinion or other market analysis (for a refinance) or a copy of the purchase contract for a new property, the Commitment for Title, an appraisal, inspection reports, a copy of the survey, and contractor repair estimates, if applicable.

4. Submit Additional Financial Information

You should be ready to produce at least two years of financial documents (such as income statements and balance sheets) and any rental agreements if you intend to acquire or refinance an income-generating property. If the borrower is a company, the borrower must also submit the corporation’s financial statements for the past two years. Your capacity to repay the loan and your credibility as an investment will be demonstrated by the details you disclose concerning your financial situation.


According to hardmoneyhome, Atlanta borrowers should expect to pay an average interest rate of 13.3% on their hard money loans. However, before moving forward with your plan, have it authorized. The chances of a lender approving your loan will improve if you present a comprehensive proposal. Give us a call now if you need assistance with your home loan proposal.