private money chicago

Our Process

  1. Application and borrower pre-qualification
  2. Property valuation—pre and post repair—Select Funding will use our best resources to verify present and future value of proposed project prior to ordering an actual appraisal
  3. Borrower evaluation—documentation and credit report. Underwriting is based on borrower’s ability to refinance loan upon completion of construction.
  4. Appraisal
  5. Loan committee approval
  6. Loan funding—Borrower submits phased rehab plan
  7. Construction process-construction is done in phases. Phases are inspected as completed, generally within 24-36 hours. Funds are wired within hours after each phase is inspected and approved.
  8. Project completion and exit.