Details - Required Documentation

Documents Needed for Underwriting May Include:

  • ​Purchase Agreement with All Addenda

  • Due Diligence; Property Disclosures, Inspection Reports, Sewer Scope

  • Lenders Title Insurance Commitment From AAA Rated Carrier

  • Builder’s Risk Insurance Binder and Invoice

    • Available Vendors:

      • Farmers Insurance; Jolene Johnson; 303-768-8130; jjohnson8@farmersagent.com

      • Allstate Insurance Company; Adolfo Lazcano; 303-202-3521; adolfolazcano@allstate.com

      • Associated Agents Insurance; John Booth; 303-991-7180; jbooth@insurecolo.com

      • Colorado Insurance Professionals, Inc.; Stephen Brunston; 303-755-8600 x 215; contactme@colorado-insurance.com

    • Required Builder's Risk Insurance Terms

      • Minimum Coverage for Total Loan Amount

      • Coverage Period Must Exceed Loan Term

      • Loss Payee Clause: "Mortgage Money Inc, It's Successors and/or Assigns ATIMA"

      • View a sample evidence of insurance exhibit on Tools and Forms

  • ​​Engineering letter for any structural changes or additions

  • Detailed Scope of Work with Material and Labor Breakdown

    • ​Construction Draw Schedule
  • Copy of Unexpired Driver’s License or Government Issued ID

    • ​IRS Issued ITIN Is Acceptable

  • Organizational Documents If Entity Holding Title

  • Improvement Agreement with Contractor(s)

    • ​Visit Tools and Forms For Sample Agreement.
    • ​​Copy of Contractor’s Liability Policy
       
  • Documentation of Experience Through Prior Projects Completed​

All documents should be submitted at one time, all together. Upon receipt of all documents, the verification and underwriting process will typically take 48-72 business hours in most cases.

EMAIL DOCUMENTS TO: contactus@mortgagemoneyinc.com

 

​Mortgage Money Inc. to Complete:

  • Borrower Credit Report Pulled by MMI

    • ​Approximately $18-$22 Will Be Charged To Borrower's Visa or Mastercard

    • Borrower Will Receive A Copy of the Report

  • After Improvments Value Analysis

  • Profit / Loss Feasibility Analysis with Contingency Plan​​

    • ​​Provided by MMI For Agreement with Borrower