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How quickly can I get a hard money loan?

We strive to approve loans in as little as 24-48 hours and be ready to settle within seven days in order to meet your needs. Of course, we cannot guarantee specific time periods as there may be delays getting the appraisal of the property, doing the title work, and preparing  loan documents.

Can I get a pre-approval letter?

Yes, provided our underwriter has enough information to provide a preliminary approval.

What are the lender fees?

It depends. Hard money loans generally cost 3-5 points, but may be higher or lower based upon the loan program.  You will also have to pay for typical costs like title report, property appraisal, and document preparation fees. Any required fees will be disclosed to you.

Will you lend on a primary residence?

No. Allview Funding is not licensed and does not lend on primary residences.

What are the loan terms?

It depends. Every hard money deal is different and remain flexible to try and fund good deals. Generally, you will be required to pay 3-5 points upfront and an interest rate anywhere from 12-15%.

Are there pre-payment penalties?

It depends. We may require minimum guaranteed interest periods and you will always be advised of any such pre-payment penalty or guaranteed interest period.

What documents do I need to get started?

The first step is to complete a loan application. Following our review and preliminary approval,we will tell you what documents you need to provide. If you have any documents like an appraisal that may help with identifying the value of the property, you may provide that upfront.

Do you need to check the title?

Yes. We will require you to pay for a title search of the property.

Do I have to put my own money in the deal?

It depends. We will generally lend you up to 65% of the property value.  This may not entirely cover the purchase and you will need to find the remainder of the purchase price.

Do I need an appraisal?

Yes. We will obtain the appraisal(s) and require you to pay the appraisal fees which are non-refundable.

Where do you lend?

We lend in Maryland, Virginia, Washington D.C. and South Carolina

How do I get a hard money loan?

You will need to fill out our application and provide some information about you and the property. We will evaluate the current and ARV of the property, examine the title to verify that we will hold a first lien position, and verify you are capable of meeting your obligations under the loan.

Can I get a hard money loan with a low credit score?

It depends. We will consider your credit score within the context of other data points, including but not limited to, the collateral, loan amount, purpose of the loan (e.g., flipping vs long term rental property) and borrower's experience level.

Do I need to provide personal income statements?

It depends. Once your loan application is reviewed, you will be told by the underwriter which documents you will need to provide.

Are you a licensed lender?

We are not a licensed mortgage lender and do not lend money to consumers on primary/principal residences. We are a commercial/investment lender.

What type of properties do you fund on?

We lend on residential investment properties and some commercial.

Do you lend on purchase price or appraised value?

Allview Funding typically lends based upon on appraised ARV (after-repaired-value).

Can I roll closing costs into the loan?

Closing costs will have to be paid by you at closing. However, we may consider allowing you to roll points into the loan.

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