A simple process, from request to payoff
No bank-style paperwork. Here is what to expect when you finance a project with Secure Investors.
Submit your loan request
Send us the details through our online form or give us a call: property address, purchase price, planned repairs and your estimate of the after-repaired value.
Underwriting & loan offer
We review the property and the deal, along with your credit report. If approved, we issue a loan offer with terms tailored to your project. A commitment fee is due when you accept the offer.
Move to closing
Closing is usually within 7 to 10 days of approval. An appraisal may be required in some cases through our approved appraisers, and builders risk hazard insurance is required. Plan to bring cash to closing for closing costs and lender fees.
Close and start your rehab
Funds for repairs are withheld from the loan proceeds at closing and held in your repair escrow. You begin work according to the agreed scope of work.
Inspections & draws
We conduct mandatory progress inspections every 3 to 5 weeks to check on the timeliness of the work. When repairs are complete and pass inspection, we release the funds. Draws are available for larger projects.
Sell or refinance
Pay off your loan when you sell or refinance. There is no prepayment penalty.
How repair funds work
Funds for rehab and repair are withheld from the loan proceeds at closing of the purchase and funded upon completion of repairs and satisfactory inspection by our inspector.
Repairs must be completed in accordance with the agreed scope of work before inspection and funding. There will be no funds advanced for repairs prior to completion of work.
Keeping projects on schedule
Secure Investors conducts progress inspections on your property. These inspections are mandatory and check the timeliness of the work being done on the home. They occur every 3 to 5 weeks.
You must place a lock box on the home with a code we will provide. You need not attend the regular inspection, but you may want to be present for a draw inspection.
Frequently asked questions
Who can borrow from Secure Investors?
We lend to real estate investors on single-family residential investment properties. We do not make owner-occupied loans.
Do you require income or employment verification?
No. There is no employment verification and no income verification, so you do not need to provide W-2s, pay stubs or tax returns. Our underwriting is based primarily on the property being purchased.
Is there a minimum credit score?
There is no minimum credit score requirement. We do review your credit report prior to loan review.
How quickly can you close?
Closing is usually within 7 to 10 days of approval.
What loan amounts do you offer?
Loan amounts range from $50,000 to $500,000.
How much can I borrow against the property?
Loan-to-value is generally 50% to 70% of the After Repaired Value (ARV), depending on the deal.
Which areas do you serve?
We provide financing in Maryland, Washington DC and Virginia.
What are your interest rates and fees?
Pricing is customized to each loan based on factors such as the property, the equity in the deal and the borrower’s credit. Call us at (410) 277-9585 or send a loan request for a current quote.
Do I have to make monthly payments?
On six-month loans there is no monthly payment and interest accrues, although a partial payment is required in Maryland and DC. Twelve-month loans require a monthly payment.
Will I need to bring cash to closing?
In most cases, yes. Borrowers may be required to bring cash to closing to cover closing costs and lender fees at a minimum.
Can I get cash out at closing for repairs?
No. Funds for rehab and repairs are withheld from the loan proceeds at closing and released through the repair escrow once work is completed and inspected.
When are repair funds released?
Repairs must be completed in accordance with the agreed scope of work and pass inspection before funding. No funds are advanced for repairs before the work is completed. Draws are available for larger projects.
Do I need to be at the property inspections?
You do not need to attend the regular progress inspection, but you may want to be present for a draw inspection. You must place a lock box on the home with a code we provide.
Is there a prepayment penalty?
No. You can pay off your loan early without a prepayment penalty.
Do you make second mortgage loans?
No. We only lend in first position.
Ready to fund your next deal?
Tell us about your property and we will get back to you quickly. Prefer to talk it through? Give us a call.