Loan Process

Go to the “Pricing Matrix” tab and see if your loan meets our criteria and general pricing for your scenario. Each loan is priced on a deal by deal basis, but the matrix gives you a general idea of the costs to do a loan. If the loan is truly non-conforming then contact us directly.

The process for submitting and getting a Hard Money loan approved is simple. The following items are needed to get a loan approval:

Click here to download a Loan Application form (Email completed form to mike@cplenders.com)
Completed 1003 (Unsigned OK)
Color Appraisal
Credit Report

Once your loan is submitted it takes us 24-36 hours for a desk review of the appraisal to get an approval on the value of the property. Once the loan is approved, disclosures are issued within 24 hours. Once disclosures are signed, the loan is then sold to a private investor for funding and closing. The typical time frame for a loan to close is 10-14 days from when the loan is submitted.

As a regulation under the Truth in Lending Act, California Private Lenders, Inc. will not issue final loan documents without a lender in place.

Along with signed disclosures, the following items must be submitted to escrow:
Evidence of property insurance
Mortgage statements or coupons on all loans against the property
All information related to judgments any other liens against the property
A copy of the Broker’s License from the referring agent

That’s it. We take care of the rest. We want to keep the paperwork to a minimum. Our main concern is whether or not the property has the equity to meet our LTV guidelines. If a file is submitted properly the loan can close in as little as 10 days from the date of submission.