Frequently
Asked Questions
What
is Loan to Value?
Loan to value (LTV)
is a number obtained by dividing the Loan Amount by The Value of the Property.
For
example, if your property is worth $250,000 and you want to borrow
$25,000, then your loan’s LTV is 20%. The lower the loan to value the easier
your loan is to fund and the better the terms.
Who actually
lends the money for my loan?
We work with a
pool of investors that normally individually fund the loan. In case of
large loans, several investors may pool together to fund the loan.
How
long does it take to fund the loan?
The
amount of time that it takes to fund a loan depends on the location and
type of loan, how complete the loan application and documents are and the
loan amount. Typically the whole process takes ten to fifteen days. In the case of institutional loans, the time perios is more in the range of 45 to 60 days.
What
is Title Insurance?
Simply put,
it is the insurance a property owner obtains (sometimes required by lenders)
at the time of purchase or refinanace, to ensure the proper transfer of Clean Title.
Generally we do not require title insurance unless there is something
questionable that we find in our in-house title research.
Are
there any fees that I will have to pay in advance or out of my own pocket?
No,
we never charge any fees up front. No appraisal fee, no application fee,
no due dilligence fee. If we do not fund the loan, there are no fees charged except in the case of a long-term mortgage and the lenders require you pay for an appraisal, unless you have one less than 30 days old by an appraisor they approve of.
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More
Information ABOUT
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Equity Loan Program.
Real Estate Purchase Loan Program.
Construction Loan Program.
Custom Equity Loan Program.
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