They say location is everything when it comes to real estate, but so is time, especially when time is money! When it comes to fixing and flipping homes, time can mean a lot of money, too, especially when the clock is ticking on getting the cash you need to secure a hot new investment property. Good news: 5 Arch Funding helps experienced flippers secure direct loans quickly, easily, and safely so that they can continue to expand their property portfolios.
As an experienced real estate investor, you know that any delay in securing capital can jeopardize the purchase of a property. According to the September 2015 REALTORS® Confidence Index, a survey that assesses the strength of the real estate market, only 64% of contracts were settled on time during the third quarter of 2015, with 30% experiencing delays (most because of delayed appraisals and home inspections) and 6% terminated completely. That’s why 5 Arch Funding expedites its loan process, working with the most qualified professionals in escrow, underwriting, and insurance so you can close quickly and start renovating your newest investment.
To apply for a direct loan from 5 Arch Funding, investors need to complete a short application and loan submission form. While applicants are approved on a case-by-case basis, 5 Arch Funding typically funds loans for investors with prior experience flipping or investing in properties. Here’s what the three-part loan process looks like for a fix and flip investor:
1 – Loan Inquiry: Within 24 hours of receiving your inquiry about a loan from 5 Arch Funding, an account executive will contact you to discuss your capital needs and investment goals.
2 – Prescreen: Within 48 hours, you will have made a verbal agreement regarding the loan with the account executive who will send your application to the underwriting department. Upon verification of the property’s investment valuation and your track record as an investor, you’ll receive a term sheet to sign.
3 – Underwriting: Once you sign the term sheet, the underwriting department will secure the title, escrow, appraisal, and insurance. Your fix and lip loan will be funded in just three to five business days.
While the loan process with 5 Arch Funding can definitely be the speediest one you’ll experience as a real estate investor, it’s up to you as the investor to keep the process moving along. Applicants who are lacking the proper documentation will delay the loan process. It’s important to stay in touch with your loan officer at 5 Arch Funding to ensure that you have submitted all the documents and information you need to close on the loan and purchase the property.
While time is of the essence when it comes to securing capital for investment property, timing is not. You can apply for a quick loan from 5 Arch Funding at any time of the year; the loan process is as speedy in January as it is in June.
Move Forward With Your Next Investment Property:
Apply For a Direct Loan With 5 Arch Funding