FAQs
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Your Burning Questions – Answered!
Find the answer to any questions you may have about our company and our loans down below. Can’t find it?
Mission Real Estate Funding is a direct lender and consultancy with over 15 years of experience granting tailored real estate loans, funding programs, and business solutions.
We have our headquarters in the Melville, NY. However, our online services extend far and wide across the US. We are a Nationwide lender!
Our clients are both individual and organization-based investors, landowners, developers, builders, and real estate funds.
We provide working capital, asset-based loans, bridge loans for the acquisition, rehab, and resale of new construction projects, fix and flip projects, rental real estate, mixed-use property, and multifamily property.
We are commercial lenders who don’t dabble in personal loans for:
- Buying an Owner-Occupied property.
- Paying college tuition.
- Going on vacation.
- Buying A Car.
We issue loans anywhere between $75K and $20M.
As private lenders, we facilitate asset-based financing. Equity in real estate and a min FICO score is all we need to work with you.
We typically issue both short-term and long-term loans, lasting anywhere from 12 months (Fix and Flip) to 30 years (Rental Real Estate).
Our mortgage services don’t apply to individuals wanting to acquire a primary and private residence. We only do specialized loans for real estate investors, developers, and builders.
We consider experience depending on the type, term, and amount of loan you’re seeking. We don’t require prior experience for fix & flip and rental loans, but we want to see it on an application for new construction loans. It would be prudent to get in touch with our advisors before filling the application.
At present, we’re licensed to grant funds in every state except Alaska & Hawaii.
- 1–4-unit properties for residential and/or commercial use.
- Strip malls, department stores, and retail shops.
- All other commercial and residential establishments.
Documentation requirement is different for every loan. While we do everything possible to keep things simple, our officers might have to make additional checks in certain cases. Thus, you must study your loan program on our website, gather the relevant documentation, and then start your application process to save time for unforeseeable circumstances.
Fix and flip loans are short-term bridge loans you take out whenever you need to acquire a distressed property for rehab and resale purposes. You’re generally required to pay off this loan within a year of receiving it.
Rental loans are the polar opposite of fix and flip loans. They are long-term mortgages you take out on an investment property. Rental loans are usually underwritten against the property you’re planning to acquire and put up for rent.
Credit score requirements may vary by loan type. However, we generally expect our clients to have a minimum credit score of 620 for experienced investors and 680 for new investors.
Although the process takes anywhere between one and two weeks on our end, your response time, from applying to closing, plays a huge role. After receiving your application, our officers make it a point to send you a term sheet within 24 hours. From there on, we need to order an appraisal and collect documents. The sooner you provide us with the required information and documentation, the sooner you can close the loan and have the funds transferred to your account.
Are you ready to apply for a private money loan online?
For further assistance, feel free to reach out via the contact form below.
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Email
[email protected] -
Phone
(212) 461-4633 -
Address
25 Melville Park Road, Suit 103, Melville, New York 11747
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