Frequently Asked Questions

We are often asked the following questions. So we’ve compiled a brief list to help you find the answers you need.

How to Get Started on a Loan

Getting started on a loan can be stressful. We’ve done out best to list out the process here for you.

We’ve also provided a checklist for loans which you can access by clicking here.

The rest of the process: step by step

  1. You gather and provide us the items needed on the checklist and contact us for a 10 minute call.
  2. We pull credit, issue disclosures for signing, submit file for approval, and order the appraisal.
  3. After all conditions are met, the documents get signed and loan funds and records.

Questions on Loan Processing

Once you’ve acquired a loan, there can be a lot of work to do to make sure it doesn’t go off the rails. Don’t worry! We can help!

Here is what we need. Please make sure to review the checklist that we’ve provided. Follow this link to go there – “mortgage checklist.” Once we have all the items on the checklist, the borrower will need to supply updated bank statements and pay stubs, as we will need the most current ones.

The borrower will need to:

  1. You acknowledge ASAP (as soon as possible) the emailed disclosures and appraisal – no need to print or sign.
  2. Keep us updated with pay stubs, bank statements, and any changes.
  3. Provide us a signed and dated LOE (letter of explanation):
    1. All large deposits.
    2. Past addresses.
    3. Any past credit items on your credit report.
    4. Credit Inquiries.
    5. Use of funds for the cash out, if applicable.
  4. You contact the insurance company of your choice to confirm your coverage with the new loan.

Commercial Loans:

What we typically need for a commercial loan is the following:

  1. Three years of federal income taxes and K-1’s.
  2. Business debt schedule.
  3. P&L + balance sheet – interim.
  4. Copy of note or loan statements, if applicable.
  5. Brief description of property, type of business.
  6. Insurance.

Other Loans:

We have other loans that you might be interested in. All of them are designed to help out people with unique and special requirements.

  1. Asset based loans on quality stocks.
  2. Bank statement loans (12 months & 24 months).
  3.  Partial OWC (owner will carry) loans, as a second deed of trust, on a purchase.
  4. Co-signer loans.
  5. Credit card receipt loans.
  6. Construction, fix-up loans
  7. SBA commercial loans.
  8. Apartment loans.
  9. FICO loans.
  10. Private financing.