1.How quickly can I get approved?
Most loan applications receive preliminary approval within 24 hours. For hard money loans, we can often fund within 3–10 days from application. DSCR and commercial loans typically take 2-3 weeks for full approval and funding.
2. What credit score do I need?
Credit requirements vary by loan type. Hard money loans are primarily asset-based, so credit scores are less critical (typically 600+ acceptable). DSCR loans usually require a minimum of 660, while commercial loans may have higher requirements. Contact us to discuss your specific situation.
3. Do you work with first-time investors?
Yes! We work with investors at all experience levels. While some loan products may require previous investment experience, we offer programs suitable for first-time real estate investors. Our team will help guide you through the process.
4. What states do you lend in?
We provide financing in most states across the United States. Contact us to confirm availability in your specific location and discuss any state-specific requirements.
1. What is a Hard Money Loan?
2. How quickly can I get approved for a Hard Money Loan?
Hard money loans are approved much faster than traditional loans. You can typically get approval and funding within a few days, allowing you to act quickly on real estate opportunities.
3. What are the requirements for getting a Hard Money Loan?
Hard money loans require fewer documents than traditional loans. The primary requirement is the value of the property being financed. Lenders focus on the property’s potential rather than your credit score.
4. Can I use a Hard Money Loan for any type of property?
Yes, hard money loans can be used for residential, commercial, and investment properties, including those in need of repairs or renovations.
5. What is the typical loan term for a Hard Money Loan?
Hard money loans are typically short-term, ranging from 6 months to 3 years. They are ideal for projects like property flips, renovations, or bridging the gap until you secure long-term financing.
1. What is DSCR and how is it calculated?
DSCR stands for Debt Service Coverage Ratio. It’s calculated by dividing the property’s monthly rental income by the monthly debt payment (mortgage principal, interest, taxes, insurance, and HOA fees). A DSCR of 1.0 or higher is typically required, meaning the property generates enough income to cover the debt.
2. Do I need to provide tax returns for a DSCR loan?
No! One of the main benefits of DSCR loans is that they don’t require personal income verification or tax returns. The loan is qualified based solely on the property’s rental income and your credit profile.
3. Can I use projected rental income?
Yes, for properties that are not currently rented, we can use a rental appraisal or market rent analysis to determine the expected rental income for DSCR calculation purposes.
4. Is there a limit to how many DSCR loans I can have?
No! Unlike conventional mortgages, DSCR loans don’t have a maximum property limit. You can finance as many investment properties as you qualify for based on each property’s individual cash flow.
1. What types of commercial properties do you finance?
We finance a wide range of commercial properties including office buildings, retail centers, industrial/warehouse facilities, multi-family properties (5+ units), mixed-use buildings, self-storage facilities, and hotels. Contact us to discuss your specific property type.
2. When should I use a bridge loan?
Bridge loans are ideal when you need temporary financing to ‘bridge’ a gap. Common scenarios include: purchasing a new property before selling an existing one, accessing equity quickly for a time-sensitive opportunity, or securing temporary financing while arranging permanent financing.
3. What are typical commercial loan terms?
Commercial loans typically offer terms of 5, 7, 10, or 25 years, with amortization periods that may extend beyond the loan term. Interest rates and terms depend on factors like property type, location, cash flow, and borrower strength.
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