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Private Lending & Conventional Mortgage Advice

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Hans Restuccia
  • Real Estate Lender
  • Miami, FL
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243
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Would anyone care to share the contents of their BUSINESS PURPOSE AFFIDAVIT??

Hans Restuccia
  • Real Estate Lender
  • Miami, FL
Posted May 7 2013, 05:37

Here is some language from the one we are using:

2. The entire proceeds of this loan are to be used for a business purpose and not for personal use and the property will be rented for a period in excess of 12 months. The borrower hereby confirms that this loan is being procured with the sole intent TO PROVIDE INVESTMENT INCOME.

3. The loan proceeds will be used for:

NAME AND ADDRESS OF BUSINESS: (Fill in by hand).
__________________________________________
__________________________________________
__________________________________________

BUSINESS PURPOSE OF LOAN PROCEEDS: (Fill in by hand).
__________________________________________
__________________________________________
__________________________________________

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