Hard Money Funding Source

Getting Started

The first step in obtaining a hard money loan is to contact our team and provide some basic information about your real estate investing experience and the project you need funded. We’ll have a preliminary discussion about loan options and get you connected with a loan officer who will guide you through next steps.

To move forward, you’ll need to gather some documents including:

  • Property purchase contract or details if you own it already
  • Estimated rehab budget if it’s a fix and flip or renovation project
  • Recent comparable sales to support projected after-repaired or completed value
  • Your personal/business financial statements and tax returns

With these items, we can issue a quick pre-approval letter so you can move forward confidently with property acquisition.

Application Requirements

To submit a complete hard money loan application, we will need:

  • Borrower information – personal and business entities
  • Project address and description
  • Final purchase contract or property details if already owned
  • Detailed renovation budget and plans if applicable
  • Sales comps to confirm exit value estimates
  • Two years of personal and business tax returns
  • Current personal and business financial statements
  • Bank statements to verify cash reserves
  • Credit report and score for underwriting

It’s helpful to have all information organized and readily available to ensure efficient underwriting.

Underwriting & Approval

Our lending team will undertake careful underwriting to review your application in detail including:

  • Validating rehab budget, scope, and timeline if applicable
  • Conducting valuation analysis based on sales comps
  • Reviewing property inspection reports if available
  • Confirming your experience successfully completing similar projects
  • Analyzing your personal and business financials

We will likely request clarification or additional documents during underwriting. After ensuring everything meets our loan criteria, we will issue a formal term sheet outlining the approved loan terms within 7-10 business days in most cases.

After accepting the term sheet, we finalize underwriting and verification for a complete approval and commitment letter within 14 days typically.

Funding & Closing

Once approved, we move to the closing and funding process:

  • You will sign final loan documents and pay closing costs
  • We handle title work, lien filing, and securing collateral
  • Final draw disbursements occur for construction loans
  • Loan proceeds are sent to you and any vendors

Closing typically takes 7-14 days from full approval. The lender also sets up payment collection and administration.