How fast can you approve a deal?
Within 24 hours of receiving the following items: (1) online loan submission form, (2) ratified sales contract, (3) repair list, (4) color pictures of both exterior and interior, and (5) either of the following: comps/ CMA/ or appraisal.

How fast can you close?
Once we have approved a deal and borrower wishes to move forward, we issue a Commitment Letter which details our loan terms and conditions. Borrower has to sign it and return to us. Upon our receipt of said letter, we can typically close within 7 to 10 days (barring any unforeseen issues with title and/or property inspection). The final stage of our due diligence process is obtaining clear title. Once that happens, we are usually 48 hours from settlement.

Are you direct lenders?
Yes. We are direct hard money lenders. We are not brokers.

Why do you need pictures?
Color pictures give us an idea of property's condition. From these pictures we can generally tell: (1) if property needs repairs, (2) how much it needs in repairs, (3) if repair estimate provided from borrower is in line with what needs to be done.

Where do you lend?
All of Washington DC

MARYLAND: Montgomery County & Ocean City

VIRGINIA: Fairfax County, Arlington County, Prince Williams County and Loudoun County
DELAWARE: Beachfront areas only. Rehoboth Beach, Bethany Beach, Dewey Beach
NORTH CAROLINA: Beachfront areas only. Corolla, Kitty Hawk, Nags Head, Cape Hatteras

Do you lend on "as is" value or future value?
Both. If a property does not need repairs, we will lend up to 50% of the "as is" value. If property does need repairs, we will lend up to 50% of ARV (after repair value).

How do you calculate property value?
As a general rule of thumb, we base most of our loans on a 90-day sale value. The principal question we ask ourselves is, "If property had to be sold in 90 days or less, what price would accomplish this objective?". To answer this question accurately, we look at sold comparables, DOM (days on market) and active listings. Most successful real estate investors we know approach real estate values in generally the same way.

Can I buy a property with "no money out of pocket"?
Our strong preference is that a borrower has some money in the deal (the "skin in the game" analogy). We would like the borrower to at least pay points and closing costs so we are not taking on all the risk. However, in certain cases, where LTV is significantly lower than 50%, we may consider rolling some costs into the loan.

Do you lend for second trusts?
No, we lend in first lien position only.