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Borrower FAQs

Questions? We’re here to help

How do you determine rates, leverage, and loan terms?

Rates, leverage amounts, and terms are dependent on the location and type of property. Get prequalified today and speak to one of our Loan Officers to get specific deal terms for your situation.

If my project takes longer than expected, can you extend the loan term?
We strive to stay flexible and partner with you through your project. If you need to extend the term of your loan, we will discuss terms of any extension but we are happy to work with you so you succeed.
Do you lend to first-time flippers?
Yes! We love helping first-time flippers. We are here to help with any questions you have including property valuations, budget reviews, and profitability calculations. Our goal is to work with you to help you succeed.
How do you determine the after-repair value (“ARV”)?

In most cases, the ARV is determined by an appraiser or an internal evaluation. The appraiser will need the scope of work to determine the ARV assuming all repairs are completed.

How do repair draws work?

The full loan commitment amount is set aside for you upon origination and held in escrow by Pine Financial Group. Draws are made and funds are released upon completion of certain milestones to ensure that the scope of work documented during underwriting is being completed. In most cases, the first repair draw is advanced at close.

What if the repair costs incurred differ from the budgeted amount?

If costs incurred are less than the budgeted amount, you will be credited with all unused repair money upon completion of the project. If repairs costs are more than the anticipated budget, you will be required to make all repairs indicated on the repair estimate submitted during underwriting out of pocket. The last repair draw will not be funded until all repairs have been made.

Do you pull credit? If so, when?

We understand that credit inquiries may impact your credit score. We do not pull credit when you apply for pre-qualification. Rather, we wait until you have a contract on a property and we are going to complete a deal together.