- Borrower's Credit Report
- Prospective plans for the property (occupy, rent, devlop, etc.)
- Verifiable income vs. Unverifiable income
- Tax Returns vs. No Tax Returns
- Employment History
- Bank Statements
- Debt to income ration
- Other Debts and Liabilities
Again, as a private lender focusing on equity position,Diamond Bay carefully evaluates the subject property (the main property that is being borrowed against). We look
specifically at the type of property and/or the feasability of success of the project. Consideration is given to potential value versus froreclosure and other value-diminishing cirmstances.
All borrowers are required to personally guarantee the loan. This may grant the investor(s) the ability to
pursue the borrower(s) in case of default, for the deficiency of any unpaid principal.
Having mulitple properties involved with significant equity positions usually helps Diamond Bay find equity in order to complete the loan.
“A preoccupation with the future not only prevents us from seeing the present as it is but often prompts us to rearrange the past.”
- Eric Hoffer
