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Private Lending Makes Getting Funding Fast and Easy
Loan funding with traditional financing can require months from the time of the borrower’s initial loan inquiry to the date of loan funding. This slows the process for the borrower, meaning a longer wait before you are able to move in, begin renovations, break ground on new construction, open for business, or relist your updated property on the market. When it comes to real estate investments, time is money. So, don’t waste another day waiting for a slow loan request approval or regulatory waiting periods, fill out a hard money loan application today.
Get Started with a Hard Money Loan Application Today
Hard money loans differ from traditional bank loans in that the funds come from private investors. As a result, these loans and the lending process are not held to the same stringent mortgage and real estate lending regulations to which banks and credit unions must adhere. All of the paperwork and regulatory requirements placed on traditional financing slow down the process and make it more difficult to get a loan request approved.
Approvals are simpler and easier to obtain with hard money loan decisions primarily based on collateral (the property you plan to purchase or construct), rather than on your credit history, time on the job, self-employment, or past bankruptcies. Hard money loans provide un-bankable borrowers an alternative to traditional financing with better chances of getting a real estate loan request approved â€“ even if the borrower has previously received a loan application denial from a bank or credit union.
In addition to easier approvals, with hard money loans, you can expect your property loan application to process quickly and fund within days due to the less regulated private investor loan process. Read on to learn more about getting started with a hard money loan application today.
Types of Property Loan Applications Accepted
If your loan request will be secured by a lien on real property, then we will consider it. Most real estate loan applications fall under the following three categories:
Residential Loan Application
Includes applications for real estate loans which will be owner-occupied first, second, or vacation homes
Commercial Loan Application
Includes real estate loan applications for commercial properties such as single family or multi-family properties, rental homes, apartments, condominiums, investment properties, retail properties, offices, warehouse locations, or industrial sites
Construction Loan Application
Includes personal or commercial purpose construction loans
Enclose the Following Documents with Your Real Estate Loan Application
Depending on your specific financial circumstances, history, and your unique loan request, the documents required to complete your real estate loan application might vary. You can, however, speed up the loan approval process by including the following documents at the time of your application:
Complete Uniform Residential Loan Application or a Commercial Loan Application
Proof of Income, such as recent paycheck stubs, W-2 forms, or a copy of your full tax returns from the last two to three years
Copies of Recent Bank Statements
Copies of Recent Brokerage or Investment Statements
Copies of All Borrowers' Valid Government Issued IDs, such as drivers licenses or passports
Copy of the Property Purchase Agreement or Buy Sell Agreement
To find out which documents we require for your type of loan application and credit circumstances or for assistance completing an application, feel free to contact us anytime during your real estate loan application process.
Enjoy Quick Approvals and Fast Funding on Your Property Loan Application
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Loans are offered under either: California Bureau of Real Estate License 01897444 or California Finance Lender License 6054605
Mortgage Loan Originator, NMLS license no. 945582