Loan Process

This is a generalized description of the loan process.  Silverado Funding may modify the process as deemed necessary or appropriate for the applicable Loan Program or circumstances:

  • Complete the loan application and email to info@silveradofundingllc.com or upload using our Document Upload Page.  Please include the following with your submission:
    • Last two years most recent tax returns
    • Two months most recent checking, saving and/or brokerage account statements
    • Copy of driver’s license
    • Copy of Operating Agreement / Articles of Organization
    • Schedule of Real Estate Owned
    • Balance Sheet (Builders only)
    • Profit and Loss Statement (Builders only)
    • Resume (Builders only)
  • Upon approval from  Loan Committee of borrower’s financial and credit information, we will need the following information on the property:
    • Purchase Contract
    • Rehab or Construction Budget / Scope of Work
    • Specs and Plans(applicable to Construction Loans only unless otherwise requested)
    • Contact Information for Access to the Property
    • Contact Information for the Title and Escrow Company
    • Preliminary Title Report
    • Contact Information for our Insurance Agent
    • Initial Inspection – Silverado Funding will order from an approved vendor
    • Appraisal – Silverado Funding will order from an approved vendor
  • Upon review of the property information, your file will go to Loan Committee for final approval. Once approved your file will go to our Closing Department.  When completed and authorized, the loan documents will be sent the specified closing agent.
  • The closing agent will coordinate signing of all required documents.  Upon completion and verification of signing, Silverado Funding will send the requested funds.
  • The first draw for a rehab loan will be sent outside of closing.  Wire Instructions will need to be sent to Silverado Funding so that funds can be disbursed.