Guidelines for Loan Brokers - Herzer Financial

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Broker Submission Documentation

Maximum loan to value: 65%. Requires good credit and good income. Otherwise, our guidelines are specific to the loan requested and type of property.

All loans will need to comply with current state and federal regulations. These are guidelines only and not intended to be all-inclusive. Please contact our office to discuss your specific loan request and obtain a quick rate quote.
All brokers will need to submit a TIN number, DRE license number, CFL number (if CFL Broker), and NMLS if a consumer loan. If it is a consumer loan then HFS must approve the broker and enter into a wholesale agreement.
Herzer

We require the following documentation for all loans:

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Loan Application
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Credit Authorization
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Preliminary Title Report
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Articles of Incorporation
This includes operating agreements if the loan is to an entity.
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Appraisal
We will order one. Outside appraisals must be reviewed by our appraiser.

Documentation Specific to Various Loan Types

SFR,​​ Fix & Flip​​​

Non-Owner, Business Purpose
(Non-Consumer) Loans
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Business Purpose Declaration
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HUD 1 or Purchase Contract
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Itemized Fix Up Costs
Preferably on our form

Income, ​​Properties,​​ Special Use​​​

Business Purpose (Non-Consumer) Loans
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Business Purpose Declaration
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All Leases
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Rent Roll
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P & L Statement
Most recent year and YTD
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Written Exit Strategy

All Consumer Purpose Loans​​​

Regardless of property type
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1003
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Two Year Tax Returns
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Last W-2
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Recent pay stubs
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Documented Income
All income must be documented
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GFE
Contact our office prior to issuance
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Loan Purpose Declaration
Credit Report
Or authorization to pull credit
Appraisal
If you have one, otherwise we will order one
All Leases
If income, commercial, or industrial
P & L Statement
If income, commercial or industrial
Phase 1
If income or industrial
Written Exit Strategy
NLMS number
Herzer Financial Services requires this
LO compensation agreement

SFR 1-4​​

Owner and Non-Owner, Business Purpose (Non-Consumer) Loans
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Business Purpose Declaration
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Written Exit Strategy

Construction Loans​​​

Construction​ ​Business Purpose
(Non-Consumer) Loans
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Business Purpose Declaration
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HUD 1 or Purchase Contract
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Plans and Specifications
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Construction Contracts
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Permits
If existing
All brokers will need to submit a TIN number, DRE license number, CFL number (if CFL broker), and NMLS if it is a consumer loan. Then HFS must approve the broker and enter into a wholesale agreement.

Download these broker forms to work with Herzer Financial Services. Fill out and fax them to (650) 363-8330.
All consumer loans (and all other loans) will need to comply with current state and federal regulations.

These are guidelines only and not intended to be all-inclusive. Please contact our office to discuss your specific loan request and obtain a quick rate quote.
Real Estate Broker —California Dept. of Real Estate
License #00417082

Loans are made or arranged pursuant to a California Finance Lender's License #6054500

Nationwide Mortgage Licensing System #314253
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