Align Capital Corp. is proud of having a distinct and effective asset based lending process when it comes to flip and fix loans or new construction loans.
Align Capital Corp. is operated by experienced lenders who are in the business of helping real estate developers and investors succeed in their projects. To make that possible, Align Capital Corp. has designed a asset based lending process that is fast, efficient and effective. We know that these are the qualities that real estate investors look for in a lending service. We offer a reliable asset based lending service for the following:
Our Asset Based Lending Process
We offer easy and reliable way for real estate investors and private investors to get access to the money they need for their fix-and-flip or new construction process. The following is a quick breakdown of our entire process:
The Initial Contact
Once you contact Align Capital Corp., the wheels of your project start moving. Our specialists will first find out if your particular project meets our specific underwriting criteria, which gives us a better idea of what we’re getting into. We gather data on the financial background, and credit score of our clients, and ask for a summary of the proposed deal, along with the current and future value of the real estate project. It is advised that the borrower have the following information on hand when they contact us initially:
- Property address
- Purchase price
- Rehab or new construction budget
- Future expected value
- Payoff strategy (sale or refinance)
- Expected timing of exit
Once we have access to the necessary information, our agents will let you know if you will receive the project funds you need.
Underwriting
Once your loan request details clear our simple underwriting criteria, you will be asked by our agents to do the following:
- Fill out a loan application
- Provide a purchase contract for the property
- Provide a written expected work scope for the property
Once this process has been completed by the borrower our agents will schedule an appraiser who will inspect and appraise your property and ask for any additional information or documentation if needed regarding the borrower’s income or credit. We will also require information on the project’s contractor along with property title history and property insurance. All of the paperwork needs to be in our possession prior to the close.
Loan Closing
The loan closing process takes place at the title company office or at the attorney’s office. Closing transactions can be divided into two types. The property purchase and the loan settlement. Our specialists will carefully review all the documentation to ensure that the process is streamlined and stress-free for the borrower. With respect to the loan settlement, the borrower will also be required to sign other loan related documents where necessary. After all of the documents have been signed by the parties, we will disburse the loan proceeds to the borrower.
Servicing
On a new construction loan, Align Capital Corp will release the portion of the loan that’s dedicated to the construction project in stages. Each of the installments are going to be released directly to the borrower’s bank account at the successful completion of the previous stage, and upon the inspection of the work. The period between the completion of a stage and the money being wired is usually between 3 to 4 working days.
Payoff
No prepayment penalty will be charged once the loan gets paid off upon maturity by the borrower. We go the extra mile to ensure that the process is as stress-free and easy as possible for the borrower.
