Borrower FAQs

What Documents Are Needed for a Private Mortgage Loan?

To help us review your loan request efficiently, please be prepared to provide the following documents. Having these items ready will streamline the application process and allow us to move forward with your private mortgage request as quickly as possible.

  1. Completed application, signed and dated. Click here to complete an application online. E-mail your completed application to kristi@kraprivatemortgage.com.

  2. Recent appraisal – if available.

  3. Most recent tax return.

  4.  3 months of consecutive bank statements

  5. Credit score

  6. Photographs of the property to be used as collateral

What Fees Are Associated With a Private Mortgage Loan?

When securing a private mortgage, there are a few standard fees to keep in mind. These costs cover the services and protections needed to complete your loan safely and efficiently. Typical fees include:

  1. Broker Fee (6%) – Covers loan origination and coordination services.

  2. Property Insurance – Protects the property used as collateral.

  3. Closing Costs – Paid to the closing attorney for processing and finalizing your loan documents.

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