Montegra Capital Resources is a hard money lender in Colorado, not a loan broker. Our representatives have direct control over both funds and decisions. Because of this, Montegra is able to streamline our hard money lending process so that borrowers get the funds they need more quickly. You deal directly with the decision maker rather than a middle man or a loan committee.
Our process is focused around Montegra’s five values: Speed, Flexibility, Fair Pricing, Minimal Red Tape, and No Surprises.
Montegra’s Hard Money Lending Process:
Step 2: Explain your loan request and provide any necessary supplemental material.
Step 3: If the loan meets Montegra’s hard money lending requirements, then a Term Sheet is issued. This Term Sheet is a detailed outline of how the loan will be structured, including pricing and all requirements. Montegra will deliver the Term Sheet within 24 hours of receipt of all required materials.
Step 4: Once you approve the Term Sheet, a more detailed Commitment Letter is prepared and sent to the borrower – usually within 48 hours.
Step 5: Montegra will begin our simplified underwriting process as soon as the signed Commitment Letter is received. This process normally takes no more than two weeks.
Step 6: Montegra prepares the loan documents and the loan closes within one to two weeks of the underwriting approval. The entire process from application to closing usually takes only 2 to 4 weeks.
Our hard money lending process has been developed over 45 years of continued business in the private capital lending industry. Montegra continues to seek out opportunities to offer creative and flexible real estate financing and to serve the needs of our borrowers in the shifting climates of business and commercial real estate lending. Our Smart Buyer Loan Program, which allows borrowers to access additional capital when they are purchasing a property for less than market value, is just one example of the ways in which Montegra strives to make hard money lending easier and more beneficial for our borrowers.