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Hard Money Refinance Readiness Checklist
Organize the information a financing provider may request. This is not an application, approval, or secure document-upload portal.
01 · Borrower information
- Confirm the names and contact information of each proposed guarantor or borrower.
- Prepare a current real-estate-owned schedule if a lender requests one.
- List any recent credit, ownership, or liquidity changes that may need explanation.
Notes / owner: ______________________________________________
02 · Business entity documents
- Locate formation documents, operating agreement, and amendments.
- Confirm the entity’s legal name, tax identification details, ownership, and signing authority.
- Check that the borrowing or title-holding entity is active and in good standing where required.
Notes / owner: ______________________________________________
03 · Property information
- Record the address, property type, unit count, current use, and occupancy.
- Prepare a concise description of improvements and the property’s current condition.
- Identify association, zoning, access, or use questions that could require early review.
Notes / owner: ______________________________________________
04 · Current loan documents
- Locate the note, mortgage or deed of trust, latest statement, and payoff instructions.
- Confirm the maturity date, payment structure, extension options, and lender contact.
- Review default, minimum-interest, exit-fee, and other payoff provisions with qualified advisers when needed.
Notes / owner: ______________________________________________
05 · Lease and rent information
- Gather current leases, amendments, rent roll, and payment history where available.
- Explain vacancies, concessions, short-term rental use, or recent rent changes.
- Confirm which utilities, association fees, or services are paid by the owner or tenant.
Notes / owner: ______________________________________________
06 · Insurance
- Locate the current declaration page and agent contact information.
- Check policy dates, property address, named insured, coverage type, and known claims.
- Ask whether any planned coverage changes could affect the proposed financing.
Notes / owner: ______________________________________________
07 · Property taxes
- Confirm the current tax bill, payment status, and any pending assessment change.
- Identify delinquent taxes, payment plans, exemptions, or recent ownership changes.
- Use current tax information when estimating property-level expenses.
Notes / owner: ______________________________________________
08 · Renovation completion
- Organize the scope of work, contracts, invoices, permits, inspections, and completion evidence.
- List unfinished work, open permits, contractor disputes, and material changes from the original plan.
- Keep before-and-after photographs available without uploading sensitive files through this website.
Notes / owner: ______________________________________________
09 · Property condition
- Walk the exterior, units, systems, and common areas for visible repair or safety issues.
- Confirm utilities are on and the property can be accessed for an inspection or appraisal.
- Address known deferred maintenance or prepare a realistic plan to disclose it.
Notes / owner: ______________________________________________
10 · Income and expenses
- Summarize rent and other property income using supportable figures.
- List recurring taxes, insurance, association dues, management, utilities, and maintenance.
- Separate historical results from forward-looking estimates and label assumptions clearly.
Notes / owner: ______________________________________________
11 · Reserves
- Estimate liquidity needed for closing, operating reserves, and near-term repairs.
- Ask the potential lender what assets may be counted and how they must be documented.
- Avoid moving funds or changing ownership solely for qualification without professional guidance.
Notes / owner: ______________________________________________
12 · Appraisal preparation
- Provide safe, timely property access and an accurate unit or room count.
- Prepare a concise improvement list with completion dates and supportable costs.
- Do not pressure an appraiser or assume a target value will be accepted.
Notes / owner: ______________________________________________
13 · Title issues
- Confirm the current vested owner and identify recent transfers or entity changes.
- Disclose known liens, judgments, probate, boundary, easement, or ownership disputes.
- Allow time to resolve releases and other title conditions before maturity pressure builds.
Notes / owner: ______________________________________________
14 · Prepayment provisions
- Read the existing note and payoff documents for prepayment, minimum-interest, or exit charges.
- Ask how any charge is calculated and whether timing changes the amount.
- Compare total transaction cost—not only the proposed rate or payment.
Notes / owner: ______________________________________________
15 · Maturity and extension terms
- Put the contractual maturity date and internal decision deadlines on a shared calendar.
- Ask the current lender about extension availability, conditions, fees, and approval timing.
- Maintain a backup path because neither an extension nor a refinance is guaranteed.
Notes / owner: ______________________________________________