Step 1: Click on the menu link entitled "Contact Us", and email or call requesting contact. We are available 7 days a week, 8 am to 6 pm.
Step 2: We will contact you within 24 hours to discuss your real estate investment opportunity. We cannot commit to giving you the loan at this point. It only takes a few days for us to do our due diligence, but the clock on that "few days" doesn't start ticking until we've received ALL of the information that we require from you.
Step 3: Once you get the property under contract, let us know and we will email you a simple loan application.
Step 4: You will fill out the loan application and email it back to us, along with the purchase and sale contract, the seller's property disclosure and the CMA (comparative market analysis) estimating the after-repair value. At this time you will also need to provide an estimated rehab budget and consent to a credit check.
Step 5: If your loan application is not complete (and associated documents received) or we need more info, we will work with you to fill in the missing details.
Step 6: Once we are satisfied that we have all the required information, only then do we start our due diligence. If we don't receive all of those documents in a timely manner, and if time to closing is running short, we'll decline your loan application merely due to the short deadline. It is important for you to respond very promptly (preferably within a few hours) to emails, texts and phone calls during this process.
Step 7: If your loan meets our criteria then we will email you a loan commitment letter that spells out the terms of our loan offer. If you decide to accept our offer you will sign the letter and email it back to us. Until we have a fully executed loan commitment letter, there is no contractual obligation on your part or our part. Don't interpret anything that happens in verbal discussions as loan commitments - they are not.
Step 8: We notify our title and settlement company of the upcoming transaction and they coordinate the real estate closing with you, the seller and the real estate agents.