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 a proration of the original loan fee charged daily from the initial maturity date through the final day of payoff. The amount is charged as follows: .00547 times the original loan fee, per day, or 1/182.5 times the original loan fee, per day. 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.