FAQs
What if I have a low credit score?
While most lenders do have a minimum credit score to qualify for their programs, there are some lenders that may be
What can hold up funding?
Below are typically the biggest challenges to a quick-close:
- Clearing Title – opening escrow and ordering title is crucial to do as soon as possible. Some title reports take at least 5-days to obtain.
- Inaccurate information provided by borrower or failure to provide requested documents/information.
- Property Insurance.
What is the typical turnaround time from application to funding?
After receiving all required documentation (including any necessary third-party reports), most deals can fund and close within five (5) business days.
What do I need to provide to get started?
For all loan types, we typically begin with:
- Complete a QUICK APPLICATION.
(Visit our Loan Programs page for more info.)
Depending on the loan type, we may also request, Fix & Flip: Scope of work, track record – DSCR: Rent roll or leases – Construction: Scope of work, track record, plans + permits – Land: Brief explanation of your future plans for the land
Do I have to provide tax returns?
Most commercial lenders DO require the last two years of federal tax returns.
Some residential lenders, depending on the loan type and purpose, will not require tax returns but will require bank statements, leases, etc. …
In short, be prepared to provide some sort of verifiable financial documentation.
