Frequently Asked Questions
Clear answers to help you move forward with confidence.
Answers to Common Questions
What are terms & fees to consider?
- -Extensions Available
- -Loan Package: $750
- -Appraisal: $450-$550
- -Inspection:$300-$350
- -Title Policy Required
- -Insurance Policy Required
- -Extensions Available
What is a hard money loan?
A hard money loan is a loan acquired through a private lender instead of through a traditional bank. Hard money loans are typically asset based, which means our primary focus when determining a loan amout is based mostly on the value of the collateral itself.
Do you offer 2nd lien position loans?
No, we only lend in 1st lien position.
What is the min credit score requirement?
We base our approvals on the quality of the property, the experience of the borrower, and the overall likelihood that the project will be successful. While we do review credit history, it is not the primary component of our decisions, and many borrowers with damaged credit are able to be approved.
What loan docs are required?
A typical loan can be funded in 5-7 days.
What is the collateral on the loan?
The subject property you are requesting a loan for will be used as the collateral and personal gurantee