How the Process Works
1. Start With a Quick Call
Call us at 703-350-4339. We need to have a brief conversation about your project first. You can describe the project, and we can tell you whether it meets the criteria for our loans.
If it appears to be a fit, we can start the lending process. Once we determine by phone that you are a good candidate for a hard money loan, it is very likely that we will be able to fund your project as long as the documents you provide match what you told us.
2. Complete the Application
Complete and submit the loan application on this page. Once submitted, your initial application will be reviewed by our pre-approval team, and you will be told what loan terms can be offered in your particular situation.
You can also download the PDF loan application and fill it out manually.
3. Provide Documents and Appraisal Information
We will ask you to provide additional information and documentation, including but not limited to:
- Copy of sales contract and any deposit checks
- Copy of driver’s license
- Detailed repair list and draw schedule, including material and labor costs
- Contractor estimates or contracts, if applicable
- Copies of appraisals or inspection reports
- Entity borrower documentation, if applicable
- Addresses of any cross-collateral property
- Appraisal information, if needed
4. Commitment Letter and Settlement
After successful appraisal and document review, we issue a firm commitment letter. You can use this commitment letter to schedule settlement with a title company.
Loan funds are made available through a closing or settlement after required insurance documentation has been provided. If rehab work is involved, a Builder’s Risk Policy or contractor insurance documentation may be required.
5. Rehab Draws, Sale, Refinance, or Extension
If your loan includes rehab or construction funds, you may need to establish a construction escrow. Draws are generally released after inspection and approval. The final draw is not released until the project is completed.
Within the loan term, you must sell or refinance the property. If you need an extension, contact us at least 30 days in advance so we can review the situation.