Where do you lend?
Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Washington DC, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas, Tennessee, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
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How quickly can you close?
Most bridge loans close within 2 weeks. Our rental loans generally close within 4 weeks. That said, the second loan a borrower or broker submits will tend to close more quickly, since documents have already been received.
Do I need good credit to close a loan?
No, most of our loan programs are asset-based loans. That said, there are often minimum scores well below bank standards. We also make exceptions to these minimums.
Do I need cash to close a purchase?
Most lenders, including us, usually require cash as a form of “skin in the game”. Evidently, we make exceptions to this frequently.
How much experience do I need?
We will finance a loan with a borrower that has no experience. Of course, more experience means better pricing.
Are origination points financed?
Yes. In fact, the only upfront fee is generally the valuation report (whether a BPO or appraisal).
How do I start?
Submit the preliminary application online. It is one-minute long. Based on this, we will get back to you within the same day to let you know if we can finance your deal. It’s that easy.
Do you require initial paperwork?
No. Only after receiving your online application, we will reach out to you with required items. These often include bank statements, tax returns, scope of work, company documents, and so on. Much of this won’t be necessary the second time around!
What sort of terms do you offer?
We have detailed terms on our Programs page. They are some of the most competitive mortgages out there.
Will you lend to an individual?
Generally, no. These are all business-purpose loans and non-owner occupied. That said, we have done so in the past in select states that allow for business-purpose loans to be in an individual name.
Are personal guarantees required?
Usually, yes. Some exceptions have often been made, however.
Do you lend on owner-occupied properties?
No, we do not.
Will you finance a 2nd lien position on a property?
No, we only specialize on 1st lien mortgages. We are happy to point you in the right direction, however.
Do you offer construction financing?
Yes, but only to experienced developers.
Are you a direct lender?
We do lend directly. When we cannot do a deal, we will refer it to a preferred partner of ours, so that you can still get great terms.
When can I expect a preliminary approval?
Within 24 hours after the online application has been submitted.
Will you finance closing costs?
Yes, we generally finance all closing costs.
What income requirements do you have?
We don’t have minimum requirements. While credit checks and bank statements are asked, these are generally asset-based loans. For rental loans, we require a certain debt service coverage on the property itself.
Will you refinance a property so I can rehab it?
Yes, and we will generally finance up to 100% of the rehab costs as well.
What properties do you not lend on?
Mobile homes, primary residences, and raw land. Everything else is fair game, provided it is real estate-based.