Monarch Funding strives to make the loan process as simple, quick and painless as possible for our borrowers. We can typically close in 7-10 days from application, with no credit checks, employment verification, or outside appraisal required for most loans.
Day 1: Pre-Qualification: Upon request, we send a pre-qualification letter, otherwise known as "proof of funds".
Day 2: Application: Fill out a simple application. In addition, you will need to submit at least 3 comparable properties that have sold in the last 6 months to justify your projected ARV. This can be generated by your real estate agent if you need assistance.
Day 3: Inspection: We set up a time to physically inspect the property with you, usually within 24-48 hours of receiving the application.
Day 4: Offer: Within 24-48 hours, we contact you regarding a loan offer, and issue a formal commitment letter.
Days 5-6: Draw Schedule: You send a scope of work for repairs to be completed. We create a draw schedule to release the repair funds during the project (This must be completed at least 48 hours prior to closing)
Day 7: Closing: We move to close! This is typically within 7-10 days depending on your settlement company.
Monarch Funding, LLC keeps it simple so you can focus on other aspects of your real estate business.
* Close Fast!
* Often without any out-of-pocket funds!
* Outpace your Competition
* Multiple Deals Can Be Funded