A Look at the Typical Loan Process
Our goal is to close loans as quickly and efficiently as possible. The typical timeframe to close a loan, from start to finish, is 21 days. While we are constantly working to optimize this process, it is entirely dependent on the cooperation of the Borrower, Title Company/Attorney Office, Evaluation Company, and the Lender. Collectively, we are all working together to achieve the end goal - funding your loan.
Typical steps in the process:
Complete the Loan Application
Pay the Loan Application Fee
Submit the Rehab Bid
Order the Evaluation/Appraisal
Receive Conditional Loan Approval
Ensure all Documents Requested are Submitted
Submit Loan Package to the Underwriter
Order Title and Insurance
Collect any Additional Documents Requested
Re-submit to Underwriter
Receive Loan Approval
Complete Legal Review
Assign Funds to Deal
Closing Documents are Drafted
Closer Confirms Closing Details
Clear to Close
Final HUD Statement Created
Borrower Reviews HUD
Closing
Funds Released!
If you are ready to start the application process now, please complete the form located here: Private Money Request.