Q: How do I apply for a loan?
A: Fill out the internet request form and or call 1-800-752-9533 to speak with a loan advisor who will take you through the simple process.
Q: Is there a lot of paperwork?
A: There’s minimal paperwork! We’ll make an appointment to meet you at your property and discuss your needs. If we determine there’s enough equity for your loan, you’ll get an immediate approval outlining rate and terms.
Q: What if I don’t know the value of my property?
We usually have a good idea of current market values, but if we think an appraisal is necessary to determine value, we’ll order one with a commitment to loan you 40% of the appraised value.
Q: What is your loan to value?
Since we are more conservative than institutional lenders because we don’t require any of the paperwork a bank needs to approve a loan, our loan to value is a maximum of 55%
- No tax returns
- No loan committee approval
All we need is enough equity in your property.
Q: How long will it take to get the loan?
We can close a loan in as little as 10 days, if an appraisal isn’t necessary and the title to your property is clear.
Q: How are you able to close a loan so fast?
We can do it because our money comes from private investors whose trust in us over the years allows us to make quick loan decisions.
Q: Where do I go for escrow services?
Fidelity has an in house escrow service, allowing us to expedite your loan.
Q: Who services the loan?
Fidelity also services the loans in house. We never sell our paper!
Q: If I pay off my loan before it matures, is there a penalty?
No. There are no pre-payment penalties.
Q: If my property is owned by a trust or a LLC, can I still get a loan?
Yes. We write loans to individuals, partnerships, corporations, LLCs, LPs, Trusts, etc. As long as there is equity in the property, we can make a loan.
Q: Are there any fees to apply for a loan?
No. We’ll gladly visit your property with you at no obligation.