Underwriting Question to Banker

1 Reply

Is it true that when partnering with someone on a deal and one person has 90 percent ownership of the LLC and the other has 10 percent ownership that the bank can't request Info from the 10 percent guy? And with info meaning Credit Score, Tax returns, Etc Etc

@Asahn Guyton According to guidelines lender can't ask for tax return if the partner has less than 25% share in the corporation. But if partner is on loan the lender will ask for all the documentation for qualification purpose.