Frequently Asked Questions
Everything you need to know about our lending process
At Suncrest Capital, we can close your loan on average in as little as 10-14 business days, ensuring you get the funds you need without delay. These timelines vary by product and are heavily reliant on the investor's organization and responsiveness.
To request a draw, log into your Borrower Account and select the "Draw Request" tab. Draws are reimbursed after completion and third-party inspection. Our draw process is straightforward. Once the necessary documentation is submitted, funds are typically released within 1-3 business days.
Our loans range from $50,000 to $2,000,000, depending on the specific loan product and your qualifications.
No, we do not lend on mobile homes, RV parks, or manufactured homes. We focus on site-built residential properties that are being used as real estate investment properties. We never loan money to owner-occupants or individuals.
We do not offer loans in Nevada, Arizona, North Dakota, and South Dakota. No Monthly Payment Option States only in AL, AR, CA, CO, CT, DE, DC, FL, GA, IL (excluding Cook County), IN, KS, MD (excluding Baltimore County), MA, MN, MO, NH, NJ (excluding Trenton and Newark), NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI.
To request an extension, simply contact our customer service team before your loan term expires. We'll collect some paperwork and evaluate your project. We need you to have a plan.
Payment schedules vary by loan product. Typically, your first payment is due on the first day of the month following the month you close. Always be sure to read your loan documents carefully.
To request a payoff amount, please contact our customer service team with your loan details, and we will provide the necessary information promptly. Look for the link that says draws and payoffs.
No. Appraisal fees are due prior to the appraisal being conducted.
We require property insurance covering at least 100% of the full replacement cost. Additional coverage like general liability, flood, and windstorm insurance may also be necessary.
We lend on 1-4 unit residential properties and up to 8 units for DSCR loans. Ineligible properties include commercial, manufactured homes, raw land, and rural properties.
Our customer service team can be reached via phone at (800) 204-6018 or through our online contact form on the Suncrest Capital website.
Required documentation includes entity documents, property valuation/appraisal reports, signed purchase agreement, scope of work on our template, and borrower identification. Specific requirements may vary based on the loan product.