We Make Lending Quick & Easy

6 Step Lending Process

Complete our online Loan Application. Once it has been submitted, we will quickly review your application and contact you about the loan terms we can offer based on your specific situation. Then we may issue a “Letter of Intent” based on the facts of your application.

If we cannot approve you as a candidate based off your application, you will be informed.

Step 1: Application

If your application has been preliminarily approved, you will be asked to provide (but not limited to) the following documents:

•Copy of the Contract for Purchase

•Copy of borrower’s Driver’s License

•Detailed list of proposed repairs with a draw schedule

•Copies of appraisals and inspection reports you have of the Property

•If you are an entity borrower, you will need to provide copies of all your corporate documentation (Articles of Formation & Operating Agreement)

•If applicable, addresses of any cross-collateral property

•Upon preliminary approval, we require payment of a $400 deposit to continue with the valuation/underwriting process. This amount will be credited at closing.

Step 2: Documents

Upon receipt of all requested documentation & payment of the deposit, title to the property will be ordered & examined. A physical inspection of the property will be done by REAL Texas Capital and/or a third party.

If required, a licensed appraisal and/or property inspection will be ordered. The appraiser or inspector will contact you directly to set up a day & time for inspection. They will also inform you of the cost of the inspection(s) when scheduling the appointment.

Payment for the appraisal and/or property inspection must be completed by the time of inspection and is non-refundable.

Step 3: Valuation & Title

If there are no issues (inspection/appraisal/title), the loan title will be made available through a closing/settlement with a title company after you have provided evidence of General Liability Property Insurance in the amount equal to the total loan amount.

If you are planning rehab work, you may be required to obtain a Builder’s Risk Policy. If the work is being done by a contractor, they must provide a copy of their General Liability Insurance and Proof of Workman’s Comp Insurance.

You will be responsible for all closing & insurance costs. If you are in the negotiation process, we encourage you to get the seller to contribute as much as possible toward closing costs. It will help keep your costs as low as possible.

Step 4: Insurance & Closing

If the hard money loan is a rehab/construction loan, you will most likely have to establish a construction draw schedule with the us. Depending on the size of the project, we typically have 3-5 draws.

At each phase completion, it is required that you call us to have a property inspection arranged. Once approved and/or mechanic’s lien waiver is executed, the draw will be released.

The final draw will not be released until the project is completed.

Step 5: Construction/Rehab Draws

Within the predetermined loan term, you must sell or refinance the property for us to receive a full payoff of the loan. If your exit strategy is to sell, we can show you how to maximize your profits with a flat fee listing strategy.

You may use your pre-approval from your first successful deal to receive other loan commitments.

Your next approval process will be even easier because you do not need to re-apply the next time you find a great real estate deal.

We are here to help you build up your wealth through real estate with creative financing! Be sure to Contact Us to get started.

Step 6: Sell or Refinance