Frequently Asked Questions
No, it is not required. We understand that people have varying levels of experience from rookies to veterans and our goal is to help each one succeed.
Unlike any other lender, we can help. Often times, our in-house construction company can step in where you prior contractor stepped out. Our prices are competetive and our range of talents can handle nearly any situation. Our philosophy is if we can help you stay sucessful, you’ll write more loans with us and in turn make us more succesful!
After the appraisal report is received, we can make a decision on the loan amount right away.
Yes, an appraisal is required for every loan. All appraisals are performed by an independent third party.
We will loan up to 65% of the ARV (or higher in certain circumstances) or 100% of the project cost, whichever is lower. If the appraisal is high enough, it may allow you to get the loan with no money down.
If you are in need of additional financing or a lower budget to make your numbers work, allow us to negotiate your contractor’s estimate or give you a bid from our in-house construction company.
We offer a wide variety of loans and terms. Anything from a transactioal loan lasting a few hours to large construction projects lasting over a year.
As work is completed, you can request a draw. We will inspect to verify that the work has been completed. If it has been completed to our satisfation, then we will disburse the funds.
Another option is to use our project management services and let us pay the contractor directly. This frees you up to market your business and find deals instead of spending time on inspections, deposits and writing checks.