Welcome to Frequently Asked Questions

Application timeline

This is a sample timeline and our goal is to fund as quickly as possible. If anything can be completed faster we will strive to make that happen.

What does your $550 evaluation include?



1.	Interior / Exterior Repair Report
a.	Identify the current condition of the property

b.	Identify the items that should be repaired in order to make it saleable in FHA condition

c.	Identify the Estimated days to repair items listed.

d.	Identify the market time price, 90 day sales price and average days on market for area

Sample Repair Report

2.	Virtual Drive–By Report – Evaluator who does virtual drive by on the property. Walking the streets as well as a bird's eye view. Reviewing the area and comparable sold's. He will then analyze the reports and provide feedback on the property.
a.	Rural/Agriculture

b.	Near Commercial Corridor

c.	Near Busy Street/Freeway/Highway

d.	Less than 900 Square Feet

e.	Less than 2 Bed

f.	Single Family

g.	Near or On Rail Road Tracks

h.	Recreational or Cabin

i.	Notes Section – Any suggestions for your property

j.	Findings – Will identify whether you will be denied, need to provide 30% down or whether we suggest you move forward with the loan

Sample Virtual Drive Report

3.	Repair Report
a.	Unbiased opinion of the repairs needed on the home

b.	Cost estimates for the work to be completed with Repairs and labor costs

c.	Grand Total of all repairs costs needed

Sample Property Value Report

Questions Search

You can enter any word or phrase to find answers to any questions you may have. It will search and give you every answer or question that involved the Keywords you have typed.

In fact if you have a question that is not answered on the web site simply complete the form (Click Here) and we will not only answer your question but we will mail you a $100 Wal-Mart Rebate Card as our way of saying thanks. So take a few minutes and go over the details below.

You can search by keyword below for your specific Question.

We only fund investors. If you are a homeowner looking for financing we cannot help you!

FAQ Categories

PROOF OF FUNDS

Do you require a 6 months reserves in the bank before processing the loan?

No, we do not require reserves. However, when you are doing your due diligence on the property, if we find that we offer the loan to you and the difference in what we offer versus what you are buying the property for would require you to put some money down, then we would request a proof of funds.

How do I get a proof of funds?

You can go to our website www.dohardmoney.com under the Loan Terms and Fees tab there is a Proof of Funds section. Just proceed through the process and you can print the letter to submit with your offer.

What type of financing is this?

This is a cash or private financing. This process is quicker versus traditional financing. If everyone is cooperating the way we anticipate, the process should take 7-10 business days from the time of a fully executed purchase contract to docs. To view a timeline of the process please click HERE.

Will a Bank accept your Proof of Funds letter?

We have used the same proof of funds for years. Banks, Sellers, Agents and everyone in between has seen our Proof of Funds letter and approved it. Any seller is welcome to call us to confirm that we will provide funding. Every time you get a Proof of Funds letter off the web site it updates or system so we are prepared if a Seller or Bank ever calls us.

I need a proof of funds for another property how do I get it?

You can go to our website http://www.dohardmoney.com under the Loan Terms and Fees tab there is a Proof of Funds section. Just proceed through the process and you can print the letter to submit with your offer.

What if the seller calls you to verify the proof of funds?

We have not had any problems with our Proof of Funds letter. Very few times do the sellers ever contact us. Every time you request a letter it updates our computer system as to the property address and amounts so if the seller calls us we can find your details even if we have never spoken on the phone. Should the seller call we would tell them as long as the property meets our criteria and percentage we will lend then we will be funding the transaction.

How can you issue me proof of funds without taking to me first?

It is not about you. It is about the property. We are concerned about the property and not you as the borrower as long as you don`t have any open bankruptcies or bankruptcies discharged in the last 12 months, open unpaid judgments, open unpaid state and/or federal tax liens or other public records that could affect title. You can get a Proof of Funds letter any time day or night. Just go to our web site and you can download the letter. Every time you request a letter it updates our computer system as to the property address and amounts so if the seller calls us we can find your details even if we have never spoken on the phone. You don`t have to call us until you have a property under contract. Everything we do is on our web site, our loan terms, what we charge, what we will lend on and what we won`t and even getting a Proof of Funds letter. There is no need to contact our office via phone UNTIL you have a property under contract. Even then the first step will be to submit your application online. You can see there is no better hard money lender set up for real estate investors

A seller wants a proof of funds what do I do?

We want to provide you everything you need to be successful. We recognize that Banks and Sellers want to know that you can get the money to buy the property. Since DoHardMoney.com lends primarily based on the value of the property and does not have credit score, income, or tax return verification requirements our evaluation comes down to just the value of the property. As with any lender we are not going to send an evaluator to the property until the property is under contract. So we are willing to give you a Proof of Funds on virtually any property that meets our criteria, condition upon us getting the evaluations done on the property. By completing the below details a Proof of Funds letter will be generated. You can give this to the bank or seller for properties you are trying to purchase. You can receive as many Proof of Funds letters as you need. Just complete the below details and a proof of funds letter will be generated. To get a proof of funds you go to our to the following link http://www.dohardmoney.com/products/proof-of-funds You will put some details in and you will get a signed Proof of Funds letter instantaneously.

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