Aug 26, 2020
Will Coleman and Mike Taravella discuss personal financial
- A personal financial statement or PFS is an account of an
individual’s personal assets and liabilities.
- Personal financial statement’s are used by lenders to evaluate
whether a borrower has the net worth and liquidity to pay back a
loan in the event that they were to default on their
- A majority of lenders will require your net worth to be equal
to or greater than the loan amount and for your liquidity to be
enough to cover 9-12 months of debt service payments post
- Scheduled Real Estate Owned (SREO): a list of all properties a
borrower has an ownership claim in.
- Banks will put more emphasis on the net worth of a borrower and
less emphasis on the SREO.
- Fannie Mae and Freddie Mac will put equal emphasis on your net
worth and SREO.
Expert Pro Tip: “Check out our resources to help you
fill out your PFS!”
To register to invest with us:
Rand CRE's Facebook:
Rand CRE's Linkedin:
Rand CRE's Instagram: https://www.instagram.com/randcre