Little Guy Loans Makes It Easy to Get Approved for Your Next Deal
We have a quick and easy 5 step process that helps you get approved and on your way to completing your next rehab! We've outlined our process and how it works below.
Step 1 - Fill out Our Application
Ready to dive into your rehab project? Great! Start by completing our Loan Application. Our team will swiftly review your application and let you know what loan terms we can offer based on your unique situation.
If a hard money loan isn't the right fit for you, don't worry, we'll let you know upfront.
Step 2 - Gather Your Docs
Once preliminarily approved, we'll need a bit more info. Gather up documents like your sales contract, driver's license, and details on proposed repairs. We'll also need any appraisals or inspection reports for the property. Don't worry, we'll guide you through the process every step of the way!
Step 3 - Value and Title
With all your documents in hand, we'll kick off the valuation and abstract process. We'll order the title opinion and, if needed, schedule a property inspection. The costs will be transparent, and our team will keep you informed throughout the entire process!
Step 4 - Insurance & Close the Deal
Assuming everything checks out, it's time to close the deal! You'll need to provide evidence of property insurance, and if it's a rehab project, consider a Builder's Risk Policy. We'll work with you to ensure a smooth closing process.
Step 5 - Rehab Time!
If your loan includes rehab work, we'll set up a construction escrow and arrange for periodic property inspections for project draws. Once each phase is complete, we'll release the necessary funds. Just give us a call, and we'll take care of the rest!
Step 6 - Time to Cash Out!
Within the agreed loan term, it's time to cash out. Sell or refinance the property, ensuring we receive full payoff of the loan. And guess what? With your first successful deal, future approvals just got easier. Little Guy Loans is here to make your real estate dreams a reality!
