Frequently Asked Questions

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Q. How long does the lending process take?

It varies based on the complexity of the deal, but 95% of our deals are completed within 15 business days, and most of those within 10 business days.

Q. What do I need to do to start the lending process? 

1-It is in your BEST INTEREST to have an LLC created (if you do not, we can create one for you for an additional fee. Please note, this will extend the timing of your deal).  2-Complete the New Client List, Application, and Retention Agreement - all listed on our Apply page. 

Q. Do I have to pay any upfront fees? 

The only fee that needs to be paid upfront is the appraisal fee. That appraisal fee starts at $760 USD, but can be more depending on the size of the property (i.e. commercial properties). 

Q. What if I do not have the money for a down payment? 

If you do not have the funds needed for the down payment, we can look into qualifications for an unsecured line of credit (credit and income qualifications do apply). 

Q. Will my credit be pulled? 

What’s requested upfront is a self-pulled tri-merge (soft pull to save points and inquiries). 

Q. What minimum credit score do I need?  

Credit score truly depends on the type of deal you are pursuing. Fix and flips typically require a 680 score, but, as with everything else, even those rules are flexible (depending on leverage of the deal).

Q. Where do you fund? 

We fund in all 50 states. 

Q. Do you fund in rural areas? 

Yes (case by case basis). 

Q. What is the minimum/maximum dollar amount you fund?

Our minimum is $100,000 for residential and $500,000 for commercial. There is no maximum. 

Q. What is your fee? 

This varies based off of the deal. Please call or send a message so we can discuss your scenario. 

Please reach out to M Steele Investments directly for any additional questions. We look forward to hearing from you.