FAQ

1. How does the program work?
We Fund Houses, LLC has quick and easy funding available to investors for single family residential properties. The property is the collateral for the loan. This means the loan is primarily based on the property itself, rather than stringent credit requirements you’ll get from a bank or conventional lender.  The process is quick and easy so you can focus on getting a quick payday! Our goal is to be your exclusive and reliable funding source so you can build your business without worrying about having the cash to do it.

2. What is the advantage of We Fund Houses funding vs. other hard money lenders?
First, we're investors just like you. We've bought, renovated and sold over $15,000,000 in residential properties and know that the success of your investing business hinges upon the availability of quick cash.

We hate dealing with banks, and know with our great service and funding program we can help you eliminate anyone else (banks) that tries to determine the fate of your business for you.

We also know that education is just as important to running a highly profitable business, so when you sign up for our newsletter you’ll get ongoing useful information to help you make more money, faster.  No time wasting fluff, just real hard-hitting stuff you can use now.

3. What type of properties do you loan on?
Single family, detached residential houses that can be purchased below market value, renovated and sold for a profit. In other words, if you've got a deal, we can probably fund it. We DON'T fund commercial deals, raw land or apartment buildings at this time. Single-family, residential only.

4. Does my credit matter?
NO. Though there are credit minimums, there will be a one time credit check to make sure of no recent foreclosures or recent bankruptcies.

5. What is the criteria for your loans?
We will loan up to 70% loan-to-value including points and fees which can be rolled into the loan. The repaired Value of the home must be at least $80,000. To see our property criteria, click here.

6. What are the loan costs?
See Loan Fees for all associated costs and fees

7. What is the term of the loan?
The loan term is 6 months. Additional 3 month extensions can be granted on a case by case basis. Additional points, inspection fees, and rate adjustment will apply.

8. How does the application process work?
Easily! Follow the steps on the WeFundHouses.com home page and you'll be walked through the quick process. The application will need to be fully completed in order to be processed so look at the application checklist and we'll tell you exactly what you'll need to do in order to get funding processed quickly so we can fund your deal.

9. Can I get a Pre-Approval Letter?
Yes! We can generate instant Pre-Approval letters for you. Complete the Pre-Approval section on the WeFundHouses.com home page and you'll have your letter quickly. These are great tools to get your offers accepted quicker!

10. How do I get Pre-Approved?
Simply complete the Pre-Approval section on our home page and you’ll instantly receive your Pre-Aprroval letter after submitting it.

11. Do you escrow for interest payments?
No. Many of our competitors force you to escrow your interest payments, which means you borrow more and make less!

12. How do these costs compare to conventional lenders?
Amazingly well. See the Funding Comparison on our blog to see the benefits of our fast funding programs.

13. How fast can you fund my deal?
From the time a complete application is received 5-7 business days is the norm (assuming title work is complete and ready for closing). The inspection and appraisal will be back to us within 3 business days so we can approve and fund your deal within 2-3 business days after that.

14. What paperwork do I need to submit?
(See Application Checklist)

15. Does the loan include repair money?
Yes. We know that you want to minimize your out of pocket in order to maximize your return, so all of our loans include the funds to repair your property.

16. How do I submit a draw request?
Click here for a "Draw Request". Complete the form and submit it. We do the draw inspection and will have your draw ready in 48 hours less the draw fee of $110.00.

17. How do you determine the repairs needed?
We use the repair list you submit within the application and we confirm those repair items with the inspection report.

18. What if my repair costs exceed the purchase cost?
We'll look at these on a case by case basis. Depending on your experience, an additional down payment may be required.

19. What areas do you loan in?
The entire Dallas/Ft. Worth Metroplex with all other major metro areas in Texas to follow soon.

20. What if my rehab costs exceed my original budget?
The rehab funds you receive will be determined before the loan closes. Anything over the agreed upon budget will be covered by the borrower.

21. What states do you loan in?
Texas currently.

22. Do I need an appraisal?
Yes. The appraisal will be ordered by We Fund Houses, LLC.
DO NOT ORDER THE APPRAISAL YOURSELF. It will not be accepted.

23. Do I need to use your appraiser?
Yes. We will order the appraisal. It is paid for by the borrower at the time application is submitted.

24. Are inspections required?
Yes. The inspection will be ordered by We Fund Houses, LLC. It is also paid for by the borrower at the time application is submitted.

25. Are down payments required?
No. If the loan with combined points and fees is 70% Loan-to-After Repaired Value or less, no down payment will be required. If the the combined amount exceeds 70% a down payment will be required. We will let you know the exact amount as soon as the loan is processed.

26. Do I need to be pre-approved?
Yes and it's easy!  You don't have to have a property to get Pre-Approved for funding.  In fact, you should get your funding in place well before you have a deal.  Click here to get Pre-Approved now, so you can get your offers accepted faster!

27. How many loans will you fund at a time?
We have no set limit. Our goal is to be your exclusive funding source so you can grow your business to the level of success you desire. Our experience with you as our valued customer will help determine how quickly we can fund an increasing number of deals for you.

28. Do you loan on commercial properties?
No.

29. Do you loan on apartment buildings?
No.

30. Is a survey required?
No, however if the title insurance requires it a survey will be necessary.

31. Do you re-finance properties?
No.

32. Are extensions granted?
Yes. 3 month extensions may be granted on a case by case basis, provided all payments have been made on time and all repairs have been completed.  Additional fees will apply.

33. Are loans available for rentals?
Yes, but the property may not be occupied during the loan term.

34. What if the house needs significant foundation repair?
If the foundation repair costs exceed $5,000 a structural engineering report will be required.

35. What if the house has mold?
If the property has a significant amount of mold damage - a mold inspection may be required.

36. Will you loan money for an add-on or complete renovation?
Yes, however this may be dependent upon investor experience and will require the necessary plans, and permits. An additional down payment may be necessary as well.

37. Are there any size limitations or maximum repaired value limitations?
The property must be a minimum of 800 square feet and a minimum Repaired Value of $80,000. If the repaired value exceeds $375,000, we may require a second appraisal at the borrower's cost.

38. Can the property be tenant occupied?
No, not during the term of the loan.

39. What are the insurance requirements?
Click here for insurance Requirements.