Frequently Asked Questions
Why use a broker instead of a lender?
Unlike lenders, who have just their own loan programs, brokers have access to many different lenders programs at their disposal.
Why alternative financing instead of traditional financing?
Unlike traditional financing, alternative financing does not require the borrower to produce an array of documentation. The loan decision is placed primarily on the property and equity.
I have good credit. Why do I need alternative financing?
Even with good credit, maybe you a having trouble qualifying for the loan due to lack of income for an example.
I have good credit and good income. Why would I want to use alternative financing?
Ans: Sometimes the property itself does not qualify for traditional lending.
Does the loan process take as long as traditional lending?
Ans: No, it does not. Many loans can be processed and funded within 10-15 business days.
When I apply for a loan I seem to get lost in the process due to size and number of loan personnel. Why does this happen?
You will never have this problem with us. We are a 2 person team that follows the processing, underwriting and funding of your loan. This is one of our specialties.
What about confidentiality? I live in a small town. Will a lot of other personal friends or family know that I am borrowing money?
Ans: Absolutely not. We respect your privacy. The information you provide will go no further then you, us and the lender.
Does a refinance affect the real estate taxes on the property?
No, it does not. The tax amount will stay the same.
Is an appraisal necessary?
It depends entirely on the lender. Many investors do not require an appraisal. They do their independent research and often drive-by the property.