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United Funding Investments
Makes The Lending Process Easy!
Quick Funding
Make it easy for you
- Direct Lenders
- Full Application Privacy
- Pre-qualified in 15 mins
- Commitment letter in 24 hours
- Ready to fund in 5 days
Follow These Four Easy Steps To Get Through The Loan Process
Application
After our initial phone conversation with you, we will send you an Initial Loan Application.
This application will tell us information about you and your current income and expenses and your assets and liabilities. We will quickly review this after your completion and will likely issue a Letter of Intent or Loan Commitment based upon the facts on your application.
Documents needed
After we have reviewed your Application and issued you a Letter of Intent, we will need additional documentation to support the items you have listed on your Loan Application.
These items could include:
1. Proof of your income and current mortgages or other expenses
2. Verification of residency or citizenship
3. Detailed information of the property on which you want the loan
4. Credit reports
5. Application fee, either refundable or applied to the closing costs
6. Information on other assets you have listed on the Application
Escrow and Title
After review of the backup documents and your Application, we will open an escrow for the loan with an insured and reputed company, order preliminary title insurance, and order an appraisal (if necessary).
Insurance & Closing
Assuming there are no issues with the title and the valuation of the property, we will request proof of insurances or order new insurance policies, request the escrow company to prepare an estimated closing/settlement statement and begin preparation of loan documents and prepare for funding and closing of the loan.
* Sell or Refinance
Within the pre-determined loan term, you must sell or refinance the property to make certain the lender receives a full payoff of this loan. If you would like a new loan, you are welcome to use your pre-approval from your prior loan with us to receive another loan commitment. Your approval process will be easier, as you will no longer need to re-apply the next time.
* Construction/Rehab Draws
If your hard money loan is a rehab/construction loan, you will most likely have to establish a construction escrow with the Lender. Our lenders generally require 3-4 draws. At each completion phase, you must call us to have a property inspection arranged. Once approval is obtained and/or mechanic’s lien waiver executed, the lender will release the draw. The final draw is NEVER released until the project is completed. You will be responsible for construction draw inspection fees, which generally range from $100.00 – $150.00. These fees must be paid either at time of inspection, or sometimes up-front at settlement.
Within the pre-determined loan term, you must sell or refinance the property to make certain the lender receives a full payoff of this loan. If you would like a new loan, you are welcome to use your pre-approval from your prior loan with us to receive another loan commitment. Your approval process will be easier, as you will no longer need to re-apply the next time.
* Construction/Rehab Draws
If your hard money loan is a rehab/construction loan, you will most likely have to establish a construction escrow with the Lender. Our lenders generally require 3-4 draws. At each completion phase, you must call us to have a property inspection arranged. Once approval is obtained and/or mechanic’s lien waiver executed, the lender will release the draw. The final draw is NEVER released until the project is completed. You will be responsible for construction draw inspection fees, which generally range from $100.00 – $150.00. These fees must be paid either at time of inspection, or sometimes up-front at settlement.
