Avatar's Blog
» Which Hard Money Loans Get Funded and Which Don't?
Avatar Financial Group field more than 20 - 30 inquiries for hard money loans each day, not including inquiries submitted in error (inquiries for loans that are not really hard money loans).
Here are a few tips about which loans get funded and which don't:
First and foremost, the loans that are submitted with a complete loan package waiting to be sent are already in the lead, right out of the gate. Many people submit loan requests without having a loan package at the ready. This means that when we send an email reply indicating we are interested in seeing the loan package, they have no idea what we need or how to gather the documents. Have 2 yrs tax returns, 2 yrs financials for you and/or your business at the ready.
Have 20 photos, inside, outside, and the neighborhood ready to email at a moment's notice. Loan apps submitted with photos get funded at a rate of better than 2:1. Want better odds? Get some photos - then head for the web forms.
