Step 1 : Submit Application
What do I need to submit?
Borrower Details: Personal Financial Statement, Previous 2 Years Tax Returns, Bank Statements, Credit Authorization, Photo ID
Project Details: Purchase Agreement, Leases, Line Item Renovation Budget, Contractor/ Sub Contractor Bids, Plans
Step 2 : Approval
How long to get approved?
Upon approval, a commitment letter will be issued outlining the terms of the loan. Typically, a commitment letter can be issued in as little as 48 hours from receipt of a complete application.
Step 3 : Appraisal & Construction Feasibility
With an executed commitment letter and deposit, an appraisal will be ordered. If the project requires construction, a construction pre-funding analysis will be conducted by a third party building inspector.
Step 4 : Funding
How long to close?
We understand that time is of the essence and will work to insure a smooth and efficient closing process.