What is the first step in getting started?
Simply reach out to us with some basic information regarding your deal. We generally will need to know the property address, purchase price, and construction budget (if applicable). We’re always here and happy to answer any questions along the way.
What is the general process from start to finish?
After we review your deal, we will issue you a term sheet usually within the same day. From there, we will collect a few basic diligence items such as photo ID, entity documents, and property insurance. Our law firm will then draft the loan documents and once all documents are signed, your deal will be funded.
What if the property isn’t under contract yet?
That is totally fine! We are happy to provide preliminary information or to provide you with a proof of funds letter that will help you secure your deal and compete with other cash offers.
What documentation is necessary?
We like to keep our required documents nice and simple. We will collect your photo ID, entity documents, property insurance, purchase and sale agreement (if applicable) and construction budget (if applicable).
Are bank statements, W-2s, or tax returns necessary?
Nope. Bank statements, W-2s, and tax returns are not necessary.
How does property insurance work?
We will provide you with our insurance requirements which you can pass along to your insurance provider or broker. Our insurance requirements are very standard and almost all brokers will be able to accommodate. We would also be more than happy to make recommendations to insurance brokers.
Is there a minimum FICO or income requirement?
Nope. No minimum FICO or income requirement.
How should I make payments and how often?
Payments will be due every month on the first of every month. We provide the option to have your payments automatically pulled via ACH (recommended), or we will provide you with instructions to submit payments manually.
Will I receive statements?
Yes. Statements will be automatically sent to you every month and will also be available in your borrower portal.
How can I keep track of my loan and documents?
Malve Capital has created an easy to use borrower portal in which loan details and documents can be tracked 24/7.
How are construction draws handled?
These can be requested through the borrower portal, via email, or via phone. We will send out an inspector, and within 24 hours we should have the inspection report back which will allow us to issue a draw directly to your bank account.
Why does Malve require minimal documentation?
We are committed to making the process quick and easy. We have our own capital and we do not rely on Wall Street. We make our own decisions and believe it is in everyone’s best interest to keep things easy and simple.
Why is Malve better than using a bank?
We can close faster and easier. We do not have any minimum income or FICO requirements which provides flexibility. We have our own capital and we make decisions in-house rather than based on the requirements of Wall Street.
How is Malve better than other private lenders?
We keep things simple from start to finish, and we’re committed to our customers. We have the flexibility of doing deals that other lenders cannot and we always ensure your deal closes on time and without any hassle. It’s no surprise that our customers come back to us for recurring business.