Investment Property Loan Exchange Simplifies the Shopping Process!
Complete the 5 Minutes to 3 Proposals
It starts with a few questions to determine your property location and product request. You will know right away if IP Loan Exchange has options for you.
Next are the “Critical Areas of Lender Compatibility”. We will ask you to rank the most important factors for you. This enables IP Loan Exchange to match you with lenders who can perform in the areas most important to you.
Then, a short questionnaire about your loan request, including information on the borrower and property.
Lastly, you will be asked the timeframe you would be ready to move forward if you get a proposal you like.
Once completed, press the “I want proposals” button.
Based on your timeframe in step 1, IP Loan Exchange will review the request and coordinate with Up to 3 Lenders to deliver a proposal for your review. Most proposals with a readiness timeframe of 7 days or less will be processed as priority and completed by the next business day. For those with timeframes longer than 7 days, the normal processing is 3-5 business days.
With the proposals you will receive a link to schedule a Proposal Review and Selection Call, at your convenience. If you like one of the offers and want to move forward prior to the Proposal Review and Selection Call, you will be asked to email your selection and execute the IP Loan Exchange Loan Arrangement Agreement.
Once Step 3 is completed, the lender will be revealed to you. You will then receive the credit application and loan submission checklist via email. You will also be provided a secure site to upload the documents once they have been gathered. IP Loan Exchange and the Lender will be available to answer any questions.
The loan application will be submitted in full for review by the lender. You will receive a request for an appraisal fee and in some cases a background check fee. This will come directly from the lender and in most cases offers the ability to provide a credit card number.
The Loan Processing and Underwriting generally requires a few follow up items which will be communicated to you generally through email. Upload those to the secure portal as soon as possible or call if you have questions.
Once all the documentation is gathered, the full package goes through a final review by the underwriter and is moved to “Clear to Close.”
Loan Closing & Funding
The Lender will coordinate with you and the title company to schedule the closing, determine the final figures, prepare documents, and coordinates a wire transfer of the funds required to close. In some cases, the lender may use a mobile notary. If so, the loan generally funds the next business day.
You submit your next 3 deals and tell all your Investor Friends to try IP Loan Exchange.