Lender Instructions for Private Party Loan
Sorry if this isn't the right forum...
Title/Escrow is asking us to provide the interest rate or note and lender instructions for current deal. We utilize a private individual for loans. We've done two projects and have never had to provide this to escrow. They will simply draft a deed of trust.
The interest rate or note -- no big deal as we have that. But, not sure why they need it for deed of trust preparation.
Secondly, not sure what to do about lender instructions. Does anyone have a template handy for a private loan? What are the main elements we should include?
Thanks!