Parapet Capital Partners, LLC

Direct Lender for Home Acquisition & Renovation Financing

How Does Parapet Capital Partners Help You to Get Your Loan Closed?

 

We personally perform all of the following processes required to get your loan closed:

 

·         Analyze your loan package, including the income, credit, and asset documentation provided by you.

 

·         Title ordering and coordinating.

 

·         Verifying payoff and reinstatements of loans as needed.

 

·         Advising you on the available programs.

  

·         Ordering real estate appraisals.

 

·         Creating loan documents and managing the loan closing.

 

 

 

 

A brief step-by-step overview of how we will approve, close, and fund your loan...

 

A well documented and detailed loan package is the key to approving your loan.  We will run a credit report, and ask you for tax returns, financial statements, bank and investment statements along with a variety of other documents that provide proof of assets and liabilities.  The documents required are unique to the type of loan and to each borrower’s personal financial situation.  What separates Parapet from other private money lenders is that we intimately know which documents are required to approve your loan.

 

A preliminary title report is an offer to insure your transaction by the title company and includes a summary of the existing liens, judgments, easements and other encumbrances on your property.  It may be updated several times as well as immediately before closing.  Title companies extend an offer to insure your transaction subject to the information in this report.  Title insurance is a mandatory requirement.  We will discuss with you any detrimental or unexpected items that may prevent your loan from funding.

 

Ordering payoffs and reinstatements for a loan is trickier than it sounds.  A payoff is a document from a lienholder specifying the exact amount to payoff the lien entirely where a reinstatement is a statement from the lienholder (typically a mortgage or trust deed) which gives an exact amount to bring a delinquent loan current.  Depending on the type of lien, the payoff may be obtainable in a few days, or it make take several weeks.  In a conventional transaction, this function is typically handled by escrow.  But a good lender knows that last minute problems often arise because of inaccuracies in these documents and we will obtain these documents on your behalf to make sure they are accurate.  Your loan is very loan-to-value sensitive and an unexpectedly high payoff can derail the loan at the last moment.  

 

Informing you of the available products based upon your specific needs and circumstances.

  

Ordering and reviewing a property valuation will make or break a deal because we rely heavily on the collateral as security for the loan.  We will require an appraisal report performed by a licensed appraiser.

 

Coordinating title and escrow, we will order a title report for the purposes of title insurance, and the escrow party will obtain any payoffs needed on the subject property and handle the disbursement of funds.

 

Providing the loan funds at closing so you may begin your process of rehabbing the property.

 

Final documents and closing of all required final deeds/mortgages and loan documents.  The actual closing and signing of loan documents process varies by state, but generally our  attorney will coordinate the signing.  The signing location and supervising entity will also vary based on the type of transaction.

Contact Us Today for a No Obligation Consultation

 

 

info@parapetcapital.com

 

 

(646) 845-9292

 

or

 

Apply Online Now