FAQs

Q: What are the terms of your loans?

Frequently Asked Questions

A: For our Fix/Flip, New Construction and Bridge our typical term is 12-18 months depending on the project size. For our DSCR rental loans the term is 30 years with varying options for repayment penalty and ARM's with interest only periods if they are desired.

Q: How fast can you close?

A: For our Fix/Flip, New Constrution and Bridge we will close typically in 2-3 weeks but can close faster with appraisal, tital, and other necessary docs in hand. Our Rental DSCR can close in 4-5 weeks. We can close quicker with above average responce times, great organization, and preperation.

Q: What are you interest rates?

A: Depending on the loan product and duration the rates will vary based on experience, credit, and the overall deal. For our Fix/Flip, New Construction, and Bridge rates are currently between 10-12%. Rental DSCR are between 7.5-9.5%

Q: Do you charge points (aka origination fee) like a typical mortgage and when do I pay them?

A: We charge 2-3 points on most deal and are dependent on the experience, credit, and loan type. The points are paid up front at closing with your other associated closing costs.

Q: What other fees do you charge for your loans?

A: Our lender's legal fee is $1000 and the commitment free is $995 and a $40 wire fee. For each draw request the draw inspection fee is $250.

Q: Do you offer extensions if my loan goes beyond the loan maturity date?

A: We hire a vetted third part AMC or appraiser for all our properties we are lending on. If you have a requested appraiser we can get their license, examples of appraisals, and see if we can get them on our list of approved appraisers for futuer appraisals.

Q: Can I use my own appraiser for the valuation on my property?

A: We will work with you if you need additional time and the loan is current and up to date with payments and the insurance is current. We offer on a case by case basis 30 day, 3 month, and 6 month extensions depending on the situation. When extending the loan it is subject to a 1-2 point extension fee.

Q: What is short-term funding in real estate, and how does it differ from taditional financing?

A: Short-term funding in real estate typically involves securing capital for a brief period, often used for quick transactions or projects. It differs from traditional financing in terms of the shorter repayment and may be more flexible in terms of approval and disbursement.

Q: How quickly can I access short-term funding for my real estate needs?

A: With our streamlined process, you can often access short-term funding within 24-48 hours, allowing for swift execution of your real estate projects.

Q: Can short-term funding be used for both residential and commercial real estate ventures?

A: Absolutely, short-term funding can be applied to a range of real estate projects, including residential and commercial properties, offering flexibility to investors with diverse portfolios.

Q: How does short-term funding help in real estate transactions?

A: Short-term provides the liquidity to seize time-sensitive opportunities, enabling investors to act swiftly without being hindered by the lenghy approval processes associated with traditional financing.