FAQs
Frequently Asked Questions
Applying for a Loan
By design, everything you need to provide us should be able to be uploaded to our secure server direct.
There are a few typical documents required by the majority of Hard Money Lenders in the market. The following is a snapshot of that list although the list may not be all inclusive for your specific lending situation.
- Copy of the executed agreement with full legal description.
- Entity documents pertinent to and provided by all parties individually involved in the transaction.
- Proposed Budget
- Bank Info
- Loan Guaranty Info
- Summary Overview
- Insurance
- Title Info
- Exit Strategy
Being that most of our Loans fund within two weeks of formal application the preapprovals are quick and short term. Usually requiring a response within either hours or a couple of days.
We typically broker your application to a minimum of three of our resources who are familiar with your type of loan request and in turn provide you with the best offer opportunity available. We do so to be efficient and save you time and money in the process.
The tries and true answer here is that anyone who is a member of the applying LLC and has a 30% ownership position or greater must submit their information on the application. Other than that most others are approved on the quality of the deal submitted however in some rare instances a co-applicant maybe required but we will let you know if that is ever the case as soon as we process your application and obtain responses from our lending partners.
They are appropriate for any real estate transaction one can think of especially in instances where the borrower may be short of funding and needs the funding quickly.
Yes, relative to obtaining all supplied docs to process and do so.
Absolutely, these type loans are perfect for those who want to build and hold them as income properties.
Loan Approval
Assuming all documents required are provided we can usually obtain a response from our partners within 24-72 hours.
By design, everything you need to provide us should be able to be uploaded to our secure server direct.
By design, everything you need to provide us should be able to be uploaded to our secure server direct.
You can theoretically have as many open as you have potential transactions and/or contracts for funding in process.
Yes, not all hard money lenders lend in every state for every type of transaction and it is our mission to place your application with those who fund your type of deal in your state as quickly and competitively as possible.