What Happens After You Submit Your Loan Application?

Applying for a loan is a big step. But what happens after you hit "submit" on your application? At Alvear Lending, we believe in transparency. Whether you're funding a fix-and-flip, ground-up construction, a rental property, or need a bridge loan, here's what you can expect from start to finish.

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Step 1: Application Review (Day 0-1)

Once you submit your application, our team gets to work—fast. We review your deal details, scope of work, and experience. This includes:

• Reviewing the property address and type

• Looking at your credit and background

• Assessing the deal structure (purchase price, rehab budget, loan amount, etc.)

  
  

We usually get back to you within 24 hours.

Step 2: Soft Quote (Day 1-2)

If the deal looks viable, we send you a soft quote. This gives you a rough idea of the terms: rate, leverage, and loan amount. It’s not a commitment yet—just a starting point. Once you confirm you're good with the quote, we move on to full underwriting.

Step 3: Docs & Underwriting (Day 2-5)

Next, we collect all the necessary documentation. Depending on your loan type, this could include:

• Purchase contract

• Rehab or construction budget

• Bank statements

• Entity docs (if closing in an LLC)

• Rent rolls or leases (for rentals)

  
  

We also order third-party reports:

• Appraisal

• Title

• Insurance

  
  

While these come in, our institutional partners underwrite the loan. We might ask for clarifications or updated documents during this stage.

Step 4: Final Terms (Day 5-10)

Once everything checks out, we issue final terms. These will include:

• Final loan amount and rate

• Estimated closing date

• Any funding conditions (like permits or escrow requirements)

  
  

You’ll review and sign off. If needed, we coordinate a quick call to walk you through the numbers.

Step 5: Closing (Day 10-14+)

With everything approved, we head to closing. Here's what happens:

• Closing docs are sent to the title company

• You wire your down payment and fees

• We fund the loan, and you get the keys (or start your rehab/construction)

  
  

For rental or DSCR loans, we'll also confirm lease terms and ensure the property cash flows based on lender guidelines.

What If There Are Delays?

Sometimes, appraisals take longer. Or title uncovers an issue. We stay in touch throughout and help resolve problems fast. Communication is key—you won't be left in the dark.

The Alvear Lending Difference

We act as your lending partner, not just a broker. That means:

• Fast responses

• Real humans who understand your deal

• Creative solutions when deals get tricky

  
  

Our goal is to make funding seamless—so you can focus on building, flipping, or holding.

Why Choose Alvear Lending?

Choosing the right lending partner is crucial. At Alvear Lending, we prioritize your needs. Our team is dedicated to providing personalized service. We understand that every deal is unique. That's why we tailor our approach to fit your specific situation.

We also leverage technology to streamline the process. This means less paperwork and faster approvals. You can track your application status online. We keep you updated every step of the way.

Understanding Loan Types

It's essential to understand the different types of loans available. Each has its benefits and requirements. Here’s a quick overview:

Fix-and-Flip Loans

These loans are designed for investors looking to purchase, renovate, and sell properties quickly. They typically have short terms and higher interest rates. However, they can provide quick access to capital.

Ground-Up Construction Loans

If you're building from the ground up, these loans are for you. They cover the costs of construction and can be tailored to your project's needs. You'll need a detailed plan and budget to qualify.

Rental Property Loans

These loans are ideal for investors looking to buy and hold rental properties. They often come with favorable terms, especially if the property has existing tenants. Cash flow is a critical factor in this type of loan.

Bridge Loans

Bridge loans are short-term loans that help you "bridge" the gap between buying a new property and selling an existing one. They can be a great option when timing is crucial.

Tips for a Smooth Loan Process

To ensure a smooth loan process, keep these tips in mind:

1. Be Prepared: Gather all necessary documents before applying. This includes financial statements, tax returns, and property details.

   
   

2. Communicate: Stay in touch with your loan officer. Ask questions if you're unsure about anything.

   
   

3. Stay Flexible: Sometimes, things don’t go as planned. Be open to adjustments and alternative solutions.

   
   

4. Understand Your Financials: Know your credit score and financial situation. This will help you understand what loan options are available to you.

   
   

5. Plan for Closing Costs: Don't forget to budget for closing costs. These can add up, so it's essential to factor them into your overall budget.

   
   

Final Thoughts

Navigating the loan process can be daunting. But with Alvear Lending, you have a partner by your side. We’re committed to making the experience as smooth as possible. Our team is here to guide you through every step.

Ready to take the next step? Book a call with our team and let’s talk about your next deal.

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