Avatar's Blog

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  • What Your Financial Operating Statement Should Con

    Posted on 9/27/2004
    Loans fund faster with clear financial backup info. Your financial operating statement should have 3 columns... gross income, expenses, and net. Provide one for last year and a YTD statement for this year.
    Posted in Miscellaneous

  • How Fast Can We Fund?

    Posted on 9/26/2004
    Avatar Financial's systems are designed to provide very fast turnaround on hard money loans. Although most deals are completed within 1 month of the loan request, Avatar can fund deals even faster - often in less than 2 weeks from the time we have a completed loan app with supporting documents in hand.

    Make sure that your documentation is completely solid - include multiple photos of the property you are purchasing/re-financing as well as the property or properties that are part of the collateralization. Hard, documented evidence can make the difference between days to funding and weeks.
    Posted in Miscellaneous

  • Make Saying Yes Easy

    Posted on 9/4/2004
    When applying for a hard money or bridge loan, don't forget to include the ACTUAL purchase price of the property, rather than the estimated value of the property or the MAI apprased value. Hard money lenders like Avatar need this information. Not providing it upfront simply leads to flase conclusions on the part of the lender, and perhaps providing you with false hopes. If your loan request is clear and thoroughly presents the cost of the property, the value of the property, the dates of purchase, appraisal, etc. you will be able to rely on the initial response you get from the lender. Even if the answer is 'no', you are better off with a fast, reliable response.
    Posted in Miscellaneous