FAQ - Hill Lending Hub

Frequently Asked Questions

Do your lenders require experience?

I have lenders that offer financing for avid investors and first time investors.

Do you offer fix and flip loans?

No.

What’s the main difference between conventional and private lending?

Conventional financing (banks) require certain levels of income, DTI, and employment to qualify. The private lending sector (non-qm), relies simply on the borrowers credit score and the cash flow of the property. In other words, private lending is more suitable for self-employed and avid investors.

How long are the financing options?

All my lenders offer 30-year terms.

How long does the mortgage approval process take?

The mortgage approval process typically takes 30 to 45 days. However, it can vary based on factors such as the complexity of the loan, responsiveness of the borrower in providing required documents, and the current volume of loan applications.

Do your lenders report the loans to the credit bureaus?

No. Because of this, investors are able to grow their portfolios quicker and not have any set backs regarding credit or mortgage DTI issues.

Does the property need to be occupied to qualify?

No.

Is there a seasoning period?

No.

What’s the minimum required credit score?

620

What’s the minimum property value?

$100k for single assets and $40k per door for commercial properties.

What’s the maximum LTV?

75% for cash-out refinance

80% for purchase

Can I close in an LLC?

Yes

Can I close in a trust?

Yes

Do you do portfolio loans?

Yes

What are the portfolio loan requirements?

Minimum value of $50k per property with a minimum of 2 properties bundled together in the deal.

How long is the financing process?

Typically 3-4 weeks.