Dear Sir or Madam,
   Thank you for applying to Barclay Associates for your financing needs. In order to proceed, we will need the answers to the following preliminary questions which are included on this page.  We are sorry, but we cannot answer any questions about any proposed loan, loan terms or loan program until you return the preliminary application. .The questions in the application shown below will only take a short time to complete but are very important to begin the loan process.

   We want to do business with you, but if you are a principal who is purchasing real estate or a business ...... please DO NOT send in a completed application unless you have either A WRITTEN ACCEPTANCE OF YOUR OFFER FROM THE SELLER or a strong verbal agreement from the seller. In this case, the seller must be close to signing an acceptance of your offer. We cannot begin to process a loan application that does not meet these conditions.
   Also, on every INCOME PROPERTY based loan a MINIMUM DOWN PAYMENT of at least 10% of the loan amount is required by lenders.
        

*********** FILLING OUT THE APPLICATION *********
We will have to reject any application that is:
1. Not printed legibly. Remember the application  will be read by several individuals during the loan approval process.
2. Not filled in completely. All required items MUST BE completed. Give as much detail as you feel you will need to make your loan request more appealing to a lender. PLEASE CONTACT US BY E-MAIL AT ANY TIME if you have questions about filling in the loan application. Give us your phone number in the e-mail.  We will either call you or reply by e-mail.
3. Answer all questions TRUTHFULLY with accurate data and financial figures. If you do not have accurate data in hand then hold the application until you have the correct data.

If your information is complete and legible we can issue a letter of intent or term sheet in a short period of time.
== IMPORTANT== Before filling out the application, please check out our current MINIMUM LOAN AMOUNT shown at the bottom of every web page on our website.

PLEASE REPLY AS SOON AS POSSIBLE.

  For INCOME PROPERTY LOANS ONLY
(except apartment building or land loans)

Phone #:                                    Cell# ;                                 Fax #:
Your City/ State/ Zip
Property Address:
Your E-mail (VERY Important):

= Occupancy             %  If owner occupied, what % is owner occupied?              %
= If property is a mobile home park-what percentage of the units are owned by the park?
= If the property is under contract, when does the contract expire?
= Is the seller willing to hold a 2nd lien position on the property?  (Y/N) 

= If so, what percentage of loan amount?:       %
= Is this a refinance or purchase?:
IF A PURCHASE: (Ignore if a refinance)
= Have you made an offer for the property? (Y/N)
= If you have made an offer, has the offer been accepted?
= What is the purchase price of the property(s)? $
= Will the seller hold (take back) a seller 2nd position lien?
= How much of your own cash do you, the borrower, have to invest (Down payment + transaction costs) $
= If borrower wishes to take Cash-Out, explain what for?:
= What are the balances of any mortgages?

= What is the current interest rate you are paying on current existing debt? %
IF A REFINANCE: (Ignore if a purchase)
= What are the balances of any mortgages?
= How do you intend to use the loan proceeds?

= What is the current interest rate you are paying on current existing debt? %
= Date property was purchased:                            Price paid $

= Your cash in (down payment)  $                                      Original mortgage $

INCOME AND EXPENSE:
= So far this year Gross Income $                           Expenses $                          Net Profit (N.O.I.) $


= Last full year Gross Income $                           Expenses $                        Net Profit (N.O.I.) $


= Year before last full year Gross Income $                            Expenses $                         Net Profit (N.O.I.) $

IIMPORTANT - when totaling expenses to arrive at N.O.I. please allow 5% of gross income for maintenance, 5% of gross income for management and 5% of gross income as a vacancy factor if building has greater than 95% occupancy. DO NOT include interest payments as an expense when calculating N.O.I. Please remember include all expenses (insurance, taxes, waste collection etc.) so that you will arrive at an accurate Net Operating Income.

OTHER QUESTIONS:
= Do you have an appraisal? If you do, what is the year appraised and the amount?

= f there is not an appraisal, what is your best estimate of the current value of the property as is?  $
How many years experience do you have with income properties or land development?

= Describe the rate and terms that you are looking for in your loan request.

= Further describe your experience with income properties, or your general business experience

= If you have a RECENT FICO credit score, what is it?                 If you do not know your recent score,  see below.

HOW TO PULL YOUR OWN CREDIT REPORT AND SCORE   We cannot proceed without your credit score.  For a moderate sum it is very simple to pull your own credit online at MYFICO.COM Drawing your own credit does NOT penalize or reduce your overall score. If you decide to draw your credit online, please send us only the THREE SHEETS that show your CREDIT SCORE DO NOT SEND THE ENTIRE REPORT. Each of the three credit reporting agencies Experian, Equifax and Trans Union will send you a score sheet. If you have not drawn or seen your credit report and scores for some time it is a good idea to get the report(s) since they may contain errors which you can correct and thus raise your score(s).
 

= Are you employed? ("Employed" does not include self-employed). This fact is needed
to determine qualification for a conventional or "stated" loan) (Y/N):

= DESCRIBE OTHER DETAILS WHICH YOU FEEL WILL BE IMPORTANT IN EVALUATING YOUR
LOAN REQUEST (Use an extra sheet if needed)