Frequently asked questions

I have a bad credit score. Can I still get one of your loans?

While a low credit score will factor into our underwriting, it will not stop us from making you a loan.



How much money will I need for a down-payment?

Each loan is unique, but the less you pay compared to market value, the less money you will need to put down. Here are some general guidelines - First-time borrower 10% of loan amount - Tried-and-true repeat-clients 0% down



Do you charge interest on the unfunded loan balance?

No. You only pay interest for the time you're using the money.



Is there an early-payment penalty?

No. The quicker you pay, the happier we are.



Do you charge for loan apps, credit reports, or inspections?

No. No. No.



What if I need an extension on my loan?

We can process an extension for up to 3 months on a case-by-case basis. The extension fee is $16.67 per day or $500 per month. Before we'll be able to process an extension, you'll need to pay the accrued interest on the loan through the date of the extension.



Do I have to make any monthly payments?

No. The full principal and interest will be paid at closing. The only exceptions are extensions; in which case you will need to pay the full amount of the accrued interest as of the date of your requested extension.