Common Questions & Loan Details
What are the typical loan terms?
We offer flexible terms tailored to your specific project needs, typically ranging from 6 to 24 months for bridge loans and longer for rental products.
How fast can I get funding?
Closing times vary by product, but we pride ourselves on speed. Fix-and-flip loans can often close in as little as 7-10 business days.
What documents are required?
General requirements include property details, an entity structure (LLC), and basic experience documentation for flip projects.
Do you fund out-of-state?
We lend in most major markets. Please contact our team to confirm current availability in your specific location. Where we lend.
What is a point?
A point is a loan fee charged at closing or funding. One point equals 1% of the total loan amount. For example, on a $200,000 loan, one point would cost $2,000.
What documents are required?
The Fix and Flip program requires a minimum credit score of 600.
The New Construction program requires a minimum credit score of 680.
Do you charge prepayment penalties?
No, we do not have prepayment penalties.
Can I borrow if I am not a U.S. citizen?
Yes. New Door Funding provides loan options for both U.S. citizens and foreign nationals.