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Our Lending Process

Looking for a quick response to see if GCMAC can fund your loan?

Click below and tell us a little about your loan scenario. Most submissions are responded to within an hour during business hours.

 

 

 

Are you ready for a complete loan submission?

Once GCMAC has expressed interest in your loan, you will be asked to submit a COMPLETE Real Estate Information Form and Credit Authorization Form (Note: GCMAC does NOT have a minimum credit score requirement, but credit is pulled to view public records and other information) with additional detailed information. This fillable PDF may be printed and faxed/scanned back or completed online, saved on your computer and emailed back as an attachment.

Note: The Real Estate Information Form may be emailed back or faxed, but due to privacy laws, the credit authorization form must be faxed to us. Our fax number is (210) 979-0989.

 

 

Complete list of items that may be needed to approve your loan:

  • Completed Real Estate Information Form above.
  • Signed Borrower Authorization (to pull credit).
  • Commitment Letter, Estimate of closing costs and Escrow Analysis forms signed by borrower(s).
  • Copy of driver's license and social security card.
  • Copy of Escrowed Earnest Money Contract for subject property (if purchase).
  • Payoff information (if refinance).
  • Name and number of insurance agent (12 month policy to be paid at closing).
  • Fee for BPO (broker price opinion) $250-$500 per tract (varies on location/property type/if rush).
  • Entity Information (all loans must close in the name of an LLC, Inc, etc. with a personal guarantee from borrower(s)).
  • Copy of recent survey of property (not a plat).
  • Lender site inspection.
  • Detailed repair list for property (for rehab/flip loans).
  • Brief bio (for rehab/flip loans).

Most loans can fund within 2-3 days of GCMAC having all of the above items back/completed. While some loans can and do fund in less than a week, most require about 2 weeks to fund.

NOTE REAGARDING BPOs (real estate Broker Price Opinions): Our broker price opinions are based on "as-is" (and after repaired if a rehab/flip loan) quick sale values. GCMAC's definition of a quick sale is what our real estate broker believes a property can be sold for in a short 60-90 day market/exposure time. Traditional appraisals assume much longer marketing/exposure times and thus reflect higher values than a BPO.

*All rates, terms, fees and guidelines are subject to change without notice.