the Rfpl loan process…
See the RFPL Difference. Hard Money Loans Made Easy.
RushFire’s Private Lending (RFPL) hard-money loan process is designed to be simple, quick, and easy. In our pursuit of becoming the go-to private money lender, we set out to be different from our competitors. Our goal is to make you feel comfortable before, during and after the entire loan process. Above all else, we want you to know this is a partnership and not just a transaction. If you’re not ready to get started, and want to know more about our loan process, we’ve set it all out for you here.
RushFire Private Lending…financing entrepreneurs.
We focus on quickly processing your loan request so you can get your deal closed. We are not a bank! We do our own property evaluations so there is usually no appraisal required. We show you our loan terms before we have you fill out an application so you can decide to proceed or not. We make sure you’re not surprised by disclosing any fees and expenses ahead of time. Our lending terms are flexible and transparent. We strive to find the best solution for you and your real estate goals.
A basic 4-Step process:
Click, call, text or email…contact us in a way the works for you.
Give us a call, shoot us a text, send an email, or apply online using one of our easily-accessed forms.
We follow up quickly, to get to know you and your financing needs.
A RushFire Loan Associate will contact you within 24 hours. We understand your deal needs are urgent and as a business owner, we know time is money, and we will not waste any of yours.
During the phone call, we introduce you to who RushFire is and what we do. We learn about your business, your opportunity, and share the framework of the loan product we envision for you and your opportunity, so that we both can decide if we are a good fit for each other and want to move forward to the next phase.
You provide us with your information.
If we mutually agree to move ahead, we’ll send you a formal application with details from our conversation filled in, to save you time. When we receive your application, we’ll check your credit and background and schedule an on-site visit of the property you’re buying.
You get to see your loan terms before we approve them.
If all checks out, we’ll send you a term sheet with the loan terms we’re considering. We do this to be transparent and to avoid surprising you. If you like the terms, we’ll move forward with a formal approval and then we’re on the path to closing your deal.
We close your loan quickly so you can get to work.
Once you give us the “go ahead” by signing our Letter of Intent, we:
- instruct the title company to complete the title commitment to assure you have a clear title
- pull the loan documents together
- work out the details of the construction budget and draw request schedule
- get the insurance coverage bound for the deal
- schedule the closing
We book the loan and you’re good to go.
Make interest only payments until your project is sold and then you pay off your loan. We provide you online payment methods so you can stay on track and on the go.
You pay off your loan and on to the next opportunity with RushFire Private Lending.
There’s no penalties for paying off your loan early. RFPL’s goal is to be the hard-money lender of choice, and convenience is a critical part of our goal. Pay off the loan, and on to the next opportunity to build your real-estate portfolio and long-term wealth.