Question 1

What is a hard money loan?

Accepted Answer

A hard money loan is a short-term, asset-based loan typically used by real estate investors. Unlike traditional bank loans that focus heavily on credit scores and income verification, hard money loans are primarily secured by the property itself. This allows for faster approvals and closings, making them ideal for time-sensitive real estate transactions like fix-and-flip projects.

Question 2

What is a private money loan?

Accepted Answer

Private money is highly flexible, relationship-driven capital provided by friends, family, or local investors who back you based on trust and your track record. Private money terms (rates, repayment schedules, collateral) can be tailored through personal agreements, making it an ideal choice when you need adaptable financing and a partner who believes in your vision.

Question 3

What types of properties qualify for funding?

Accepted Answer

We finance various property types including single-family homes, condos, townhomes, multi-family properties (2-4 units), and small commercial properties. We focus on properties with good investment potential and clear exit strategies.

Question 4

How fast can I get approved and funded?

Accepted Answer

Our streamlined process allows for same-day pre-approvals and closings in as little as 3 days. The exact timeline depends on factors like property evaluation, title work, and borrower responsiveness with required documentation. Most deals close within 7 days from application to funding.

Question 5

What are your typical loan terms and rates?

Accepted Answer

Our loans typically range from 6-12 months depending on the project type. Interest rates are as low as 12% APR and vary based on loan-to-value ratio, property type, borrower experience, and project scope. We offer competitive rates with transparent fee structures and no prepayment penalties on most loans.

Question 6

Do you require perfect credit or extensive income documentation?

Accepted Answer

No. While we do review credit as part of our evaluation, we don't require perfect credit scores. Our primary focus is on the property's value and your exit strategy. We also don't require extensive income documentation like traditional banks, making our process much faster for real estate investors.

Question 7

What is the maximum loan amount you provide?

Accepted Answer

Loan amounts typically range from $50,000 to $2,000,000, depending on the property value and project scope. We can finance up to 90% of the purchase price and 100% of renovation costs for qualified borrowers and properties.

Question 8

Do you provide renovation funding?

Accepted Answer

Yes, we offer comprehensive renovation financing. We can provide funds for both the property purchase and renovation costs. Renovation funds are typically released through a draw schedule based on completed work phases. The funds are released within two business days of the draw request.

Question 9

How do I pay my commitment fee?

Accepted Answer

How do I pay my commitment fee?

Question 10

How do I get started with the application process?

Accepted Answer

Getting started is simple. Click our 'Burrow' button to complete our online application, or call us at 740-247-7600 to speak directly with a lending specialist. We'll need basic information about you and your property, and we can typically provide a pre-approval within hours.

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