[{"data":1,"prerenderedAt":50},["ShallowReactive",2],{"faq-loan-application":3},{"id":4,"title":5,"authorSlug":6,"body":7,"description":14,"extension":15,"heading":16,"intro":17,"items":18,"loanType":43,"meta":44,"navigation":45,"path":46,"seo":47,"stem":48,"__hash__":49},"faqs\u002Ffaqs\u002Floan-application.md","Loan Application FAQ | Documents, Prequalification & Timeline","tim-mushen",{"type":8,"value":9,"toc":10},"minimark",[],{"title":11,"searchDepth":12,"depth":12,"links":13},"",2,[],"Learn what documents you need, how fast the process is, and what can disqualify you from a hard money loan with Veristone Capital.","md","Loan Application and Prequalification Questions From Borrowers","Getting started with a hard money loan is faster and more straightforward than conventional financing, but there are still documents and steps involved. Below are the most common questions we get from borrowers applying for a loan with Veristone Capital.",[19,22,25,28,31,34,37,40],{"question":20,"answer":21},"What documents do I need to apply for a hard money loan?","At a minimum, you will need a government-issued ID, a completed loan application, a purchase contract or property details, and a summary of your real estate experience. Depending on the loan type, we may also ask for bank statements, an entity operating agreement, and a scope of work for any planned renovations.",{"question":23,"answer":24},"How do I get prequalified with Veristone Capital?","Contact us with your deal details, including the property address, purchase price, estimated value, and your planned exit strategy. We can typically give you a preliminary answer on the same day. Prequalification helps you move confidently when you find the right property.",{"question":26,"answer":27},"How long does the loan application process take?","Most borrowers can complete the application in one day. Once we have everything we need, Veristone Capital can issue a term sheet within 24 to 48 hours. From there, closing can happen in as few as 5 to 10 business days depending on the deal.",{"question":29,"answer":30},"What credit score do I need for a hard money loan?","Hard money loans are primarily asset-based, so credit score requirements are more flexible than conventional lending. We do review credit as part of our underwriting, but a lower score will not automatically disqualify you. The property value, your equity in the deal, and your exit strategy carry more weight.",{"question":32,"answer":33},"Can I apply for a loan through an LLC or other entity?","Yes. Most of our borrowers hold investment properties in LLCs, and we regularly lend to entities. You will need to provide the entity's operating agreement and documentation showing you are authorized to sign on its behalf. Borrowing through an entity does not slow down the process.",{"question":35,"answer":36},"What can disqualify a borrower from getting a hard money loan?","The most common reasons we pass on a deal are insufficient equity in the property, no clear exit strategy, or recent foreclosures and bankruptcies. We also look at the borrower's track record and whether the deal makes financial sense. Being upfront about your situation helps us work through potential issues early.",{"question":38,"answer":39},"How can I strengthen my loan application?","Come prepared with a clear exit strategy, solid deal numbers, and your documents organized. Having skin in the game through a meaningful down payment or equity position matters. Repeat borrowers with a history of successful projects tend to get the best rates and fastest closings.",{"question":41,"answer":42},"What is the difference between prequalification and loan approval?","Prequalification is an initial review based on the information you provide. It gives you a general idea of what terms to expect but is not a commitment to lend. Loan approval happens after full underwriting, which includes a property appraisal or valuation, title review, and verification of your documents. Approval is when you receive a formal commitment.","loan-application",{},true,"\u002Ffaqs\u002Floan-application",{"title":5,"description":14},"faqs\u002Floan-application","FOMCzejTVN-vqnXbLqof8qD7-jR5bK-xZ7njfH2kauA",1792596708883]