Hard Money Basics
How Fast Can a Hard Money Loan Actually Close?
No jargon and no sales pitch. This is how we explain it at the Averlend desk, with the math that matters.
Hard Money Basics
The short version, then the substance.
Key Takeaways
- The honest range
- What a clean file looks like
- How to be the fast borrower
The honest range. Days, not weeks, on a clean file. The variables are title, insurance, and how fast you deliver your documents. The lender side of an Averlend file is usually ready before the borrower side is.
What a clean file looks like. Clear title, a real purchase contract, insurance quoted, entity documents in hand, and numbers that check out on the first pass. Files like that have closed in under a week start to finish.
How to be the fast borrower. Open title early, order insurance the day you go under contract, and send complete information once instead of partial information four times. Speed is a two-player game, and the prepared borrower wins it.
The South Texas angle. Averlend underwrites this every week in San Antonio and across Bexar County. If you are working a deal in Alamo Heights or anywhere else in the metro, the theory above comes with a local desk attached: see our San Antonio lending page or send the deal directly.
Questions
Quick answers from the Averlend desk.
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