Frequently Asked Questions


Your down payment will vary for each project depending on the purchase price, construction budget, and ARV, as well as the loan option you select with our team. We require you to fund the difference between our total loan amount and the total project costs, plus the origination fee and closing costs charged by the title company.

We do not roll in the origination fee and closing costs into our loans so at a minimum, those will always be due at closing.

We do not issue blanket pre-approval letters as we want to look at each project before we agree to provide financing. 

Once under-written, we will issue property-specific commitment letters for each project you ask us to look at provided we believe it is profitable for you.

We cover 100% of the construction’s costs in all our loans. Depending on which loan option you select, the construction loan will operate as either a reimbursement or an advance. Once the loan has closed and priority pictures are taken, you can begin work.

For a reimbursed construction loan, you will begin funding the cost of construction after closing. As you’re ready to be reimbursed for what you have spent thus far, you will share receipts and lien waivers with our team. We will cross-check our most recent inspection report to ensure progress has been made and will then reimburse you for what you’ve spent. This process will repeat itself until the last draw as the project is wrapped up.

For an advanced construction loan, we will wire over funds for you to use toward construction costs as soon as you’re approved to begin work. Once you’ve spent those dollars, you will share receipts and lien waivers demonstrating where that money was allocated. Similar to a reimbursement loan, we will cross-check our most recent inspection report to ensure progress has been made and will then advance the next set of funds so you can continue moving your project forward without the use of your own dollars.

Our inspector is out every two weeks to collect updated inspection reports so as you request a draw, we have an up-to-date status on the project therefore removing the need for a site visit. Upon collecting all the necessary draw information, the next set of funds should be ready in 48 hours. Regardless of the construction loan setup, all funds will be disbursed through the title company that closed the loan.
We use comparable sales as close to the subject project as possible within a reasonable timeframe.

We do all these analyses in-house and can typically evaluate a project within 48 hours of receiving all project details via our Submit Your Deal form. We do not require a professional appraisal to validate our ARV which not only expedites the timeline to extend a confident offer or move forward with closing, but also saves you the cost of that service.
If exploring our rehab loan, you will have 8 months from closing to complete, sell or refinance, and pay off our loan.

If exploring our new construction loan, you will have 11 months from closing to complete, list, sell, and pay off our loan.
If you find that you are going over budget on your construction, you will need to provide the additional funds needed to complete the project as soon as the funding deficiency is known.

If you are under budget, you will be able to draw the funds with the last advance on the project. If you do not draw on all the constructions funds allocated within the loan, no interest ever accrues on that leftover amount.
We have automatic extensions built into each loan. We will allow up to two three-month extensions, providing you with up to 14 months to complete the project for rehab loans and 17 months to complete the build for new construction loans. Depending on your loan selection, a 1% - 1.5% extension fee will be due at each extension.

During the extension period, you will be required to make monthly interest-only payments, but you will not be required to pay the interest that accrued during the original term of the loan.
Yes. If exploring second mortgages, also known as subordinate or gap financing, you are required to tell us ahead of time so we can ensure the closing documents properly reflect all that you are planning for with the project.
Do you have additional questions?

If you have additional questions, please reach out to us at 952.300.8462, email us at, or fill out our contact us form!