FAQs

FAST! In order to settle we must, at a minimum, inspect the property, meet the borrower and get title insurance. Our return customers close even faster than first time borrowers.

Typically, we are able to inspect and disburse funds in three to five business days or less.

We lend on property in Philadelphia and the surrounding areas. Generally we want the property to be within a one hour drive of Center City Philadelphia.

We charge one mortgage placement fee which is tiered depending on the amount of the loan. Normal title and closing fees are required. There are no hidden costs. We prepare a loan proposal outlining all loan related details so that you have all of the information in advance. Call us for current rate and terms.

We offer interest-only and amortizing loans. All short term and all fixed rate.

There is no middle man. We make all of the decisions. Here are the steps:

  • Once we have a signed application (no application fee required) we run a credit report (for first time borrowers).
  • In some cases we ask for additional financial and property information
  • Meet borrower
  • Property analysis – comparable sales and value
  • Inspect property – we require a $300 non-refundable deposit at the time of inspection which is credited back at settlement if the loan closes.
  • We then provide a loan proposal

It depends. For an established customer, we will provide a pre-approval letter in exchange for a $100 non-refundable deposit. If the loan closes the fee is credited at settlement.

No! There are no hidden charges and no prepayment penalties.

Yes, we lend to corporations, LLC’s, partnerships, and individuals. That said, personal guarantees are required on all loans.

Communication is key! Call us and we will try to work with you.

We disburse the draw money based on a pre-closing agreement between lender and borrower. We will release the money in stages based upon the completion of the work. We pay out in arrears upon completion of the various stages and base your monthly payments only on the funds disbursed. There is a $125 inspection fee for each draw.

For Example : $20,000 in renovation funding (4 draws)

1. 25% completion – $5000 draw

2. 50% completion – $5000 draw

3. 75% completion – $5000 draw

4. 100% completion – $5000 draw

Typically, a maximum of $1MM per investor, but once we build a relationship, we are open to lending more!

We offer various ratios from 50%-100+%. It all depends on the borrower and the scenario. We try to work with you!

First position is required on all acquired real estate. Secondary positions, depending on first mortgage balance, are possible when property is serving as additional collateral or being refinanced.

Depending on the complexity and size of the loan, we may request a percentage holdback on draws. Holdback will be released upon 100% completion.

We don’t have a minimum credit score, but good credit is required. We analyze credit on a case-by-case basis.