Personal Financial Statement (PFS)

What Does It Mean?

A Personal Financial Statement (PFS) is a standardized form on which a borrower lists his or her assets, liabilities, and income. It allows the lender to get an overall sense of the borrower’s financial position and capacity to manage a loan. While each lender may have minor differences in their form, nearly all of the information requested on a PFS will be identical across lenders.

How Does It Affect My Hard Money Loan?

Most lenders will ask for a current PFS during the underwriting process, and most will want the information to be current as of the date of application (or within a short period of the application date). Since all personal financial statements contain basically the same information, you’ll save time by periodically updating your statement and having it ready to go. That way, you won’t have to spend time preparing it when your lender is ready.

Where Can I Find the Form?

LYNK Capital’s Personal Financial Statement for both fix and flip and new construction projects can be found here.

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