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KDM Financial Loan Submission Checklist
Korth Direct Mortgage LLC (NMLS ID 1579547)
Provide your KDM Account Executive with the following documentation:
1) Current rent-roll for the subject property
2) Year to date profit & loss statement for the subject property
3) Previous 2 calendar years profit & loss statement for the subject property
4) KDM Loan Application Form
5) KDM Environmental Questionnaire
6) Signed Credit Authorization Form – KDM needs a tri-merge credit report for each
borrower/guarantor
7) Every loan must close in the name of a single purpose LLC
8) Copy of bank statements verifying the rental income
9) Copies of 2 government issued IDs
Property Insurance Coverage Requirements
1) Property Damage Insurance: 110% of the unpaid principal loan balance
2) Business Income / Rental Value Coverage: Must cover actual loss sustained or minimum of 12
months
3) Flood insurance
4) Windstorm/Named Storm Coverage: 110% of unpaid principal balance
All Loans Are Escrowed for taxes and insurance
LOAN REQUEST FORMSubmission Date: _______________
Broker Information
Company Name:_____________________ Contact:______________________________________
Cell Phone:__________________________ Fax:__________________________________________
Phone:______________________________ Email:________________________________________
Address:_____________________________ City, State, & Zip:______________________________
Borrower Information:
Borrower Name:_____________________________________ Mid Credit Score:______________________________
Borrower Social Security Number: ______________________ Borrower Date of Birth:_________________________
Borrower mailing address:_____________________________ City, State, & zip:______________________________
Borrower Home phone number:________________________ Borrower Cell Number:_________________________
Co-Borrower Name:__________________________________ Mid Credit Score:______________________________
Co-Borrower Social Security Number:___________________ Co-Borrower Date of Birth:______________________
Co-Borrower Mailing Address:__________________________ City, State, & zip:______________________________
Name of Borrowing Entity:_____________________
Subject Property Information
Address:_____________________________________ City, State, & Zip:______________________________
Total Number of Units:_____
Number of Occupied Units:_____
Number of Vacant Units:________
Other Comments:____________________________________________________________________
Loan Request Information:
Loan Purpose: Purchase Refinance Cash-out Refinance
Fixed Period: 5 year fixed 5 year adjustable with a 10 year baloon
What are the cash-out proceeds going to be used for?
Estimated Property Value:__________________ Requested LTV:_______________________________
Requested Loan Amount:___________________
Required Documentation
• Current Rent-roll • 3 months bank statements showing rental income deposits
• Year to Date Profit & Loss Statement • Source of funds document on all purchases
• Previous 24 months Profit & Loss Statement • Every loan must close in the name of an LLC
By submitting this KDM Loan Request Form you are certifing that the borrower has given KDM Financial &
all of its affiliates the authorization to check the borrowers credit report and score.
Please email the complete loan application to Dllorente@KDMInvestor.com
Korth Direct Mortgage LLC (NMLS ID 1579547)
Rent Roll
ALL COLUMNS AND SECTIONS MUST BE COMPLETED Rent Roll as of: _________________________
Property Address City State Zip Code
Total # of Units # of Vacant Units # Of Section 8 Units # of Rental Subsidized Rental Units
Unit #
Tenant's
Name BDR/Bath
Sq. FT.
(Approx)
Current
Rent per
month
When did
the lease
start?
When
does the
lease
expire?
Date of
last Rent
Increase
Section 8
(Y/N)
Rent
Concessions
(Y/N)
*Use additional Forms if necessary
Monthly Rent Schedule What utilities are inlcuded in the rent?
Monthly Garage Income Is the property subject to rent control?
Other Income (specify Below)
Total from other pages
Total Gross Monthly Income
SIGNATURE
I (we) certify under penalty of perjury that the foregoing information herein is true and accurate.
__________________________________ _______ ________________________________________
Borrower Date Borrower Date
If yes, what is the current allowable increase per
year? $_________________
What has been you average monthly occupany rate
over the preceding 12 months? _______%
Monthly Laundry Income (Must
show on P&L)
Does the sponsor occupy any of the units in the subject
property? _________
Profit & Loss Statement
ALL COLUMNS AND SECTIONS MUST BE COMPLETED Profit and loss as of: __________________
Property Address City State Zip Code
Rental Income Collected
Coin Laundry Income
Parking Income
Common Area Maintenance
Other Income
Total Income Collected
Do not include one time capital expense items
Real Estate Taxes
Insurance
UTILITIES
Gas / Electricity
Water/Sewer
Trash
MAINTENANCE
Pest Control
Storm Debris / Snow Removal
Gardener
Pool Service
Elevator
Cleaning Service
Buidling Rep. & Maint.
Painting & Decorating
Supplies
MISCELLANEOUS
Resident Manager
SecurityOff-Site ManagementOther
Total Expenses
Comments or Explanations
Korth Direct Mortgage LLC (NMLS 1579547)
Authorized Signer: Date:
ANNUAL INCOME 2018 2017 CURRENT YEAR TO DATE
ANNUAL EXPENSES 2018 2017 CURRENT YEAR TO DATE
Korth Direct Mortgage LLC Environmental Questionnaire
Korth Direct Mortgage LLC (NMLS ID 1579547)
This form is to be completed by the Applicant and returned to Korth Direct Mortgage LLC when
the Applicant is using loan proceeds to purchase real property or offering business property as collateral
for the loan. The Applicant may wish to retain an engineer and/or attorney to assist in the completion of
the questionnaire. All information is to be completed to the best of the Applicant’s knowledge and
belief.
1) Street Address of the Subject Property:
2) Is the property in a flood zone?
3) Is the property in a coastal zone management area?
4) Are there or has there ever been toxic, flammable, or explosive chemicals stored in the subject
property?
5) Is the subject property listed on a Historically Preservation list?
6) Legal Description of the Subject Property:
7) Name of current property owner(s)
9) Type of businesses currently operating on the subject property
Korth Direct Mortgage LLC Environmental Questionnaire
Korth Direct Mortgage LLC (NMLS ID 1579547)
11) Historic use of the property (check all that apply)
a. Dry cleaners
b. Chemical storage
c. Transportation
d. Automotive repair
e. Retail services
f. Gas station
12) Does this property now have, or will it have, underground storage tanks in use?
13) Has this property ever had underground or above ground storage tanks?
14) Does the property currently have any open environmental permits?
15) Is the owner/tenant aware of any notice of violations, or correspondence with governmental
agencies, or internal correspondence regarding the release, threat of release, or cleanup of hazardous
substances at his property?
16) Has an environmental audit of this property ever been conducted?
17) Are hazardous substances/wastes currently generated, stored, and/or handled on-site?
The undersigned hereby declares that the above statements are true and correct to the best of their
knowledge.
______________________________ _______________________________ Legal Borrower (please print or type) Property Owner (please print or type)
______________________________ _______________________________
Signature Date Signature Date
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