Credit Report: BPH requires a minimum middle credit score of 660 from the borrower to provide a rehab loan to a borrower.
Tax Return: BPH requires that borrowers provide their tax return for the previous year. BPH will accept signed tax returns from the borrower or we can provide a tax authorization form to allow us to pull the return directly from the IRS if tax returns are not easily available.
Bank Statements: BPH requires that borrowers provide their last two months of bank statements for loan approval. Retirement account statements should also be provided.
Property Inspection, Contract, and Appraisal
Contractor's Estimate: The borrower must also fax or email their construction estimate/contract to BPH following submission of the loan application.