The complete process from application through funding.
The Process is Simple! Below are the steps to get a loan submitted, approved, finalized, and funded:
1)Submit Applications (here's how)
- Using the Lending Portal (here's how)
- Using the online application link without logging into your lending portal (here's how)
Loan decisions will be emailed to the sales rep who submits the applications and will be updated on the application status in the lending portal.
2) Changing Loan Plans or Decreasing Loan Amount (here's how)
- Edit the loan amount in your lending portal on the contract prep page
3) Sending and Signing Loan Documents (here's how)
- You must send loan documents from the lending portal for electronic signing or printed copies to sign when the loan is accepted or if changes are made to the loan.
- Use the lending portal for instant signing in the home, or the applicant can sign via auto email signature request.
4) Stipulations (here's how)
- Any stipulations can be viewed in the lending portal and emailed to stips@purefinancegroup.com
- Once received, a Loan Underwriter will promptly review the documents, clear the stipulations, and notify you when they are cleared (here's how)
5) Completion Certificates (here's how)
completion certificates may or may not be required depending on your account
- if your account requires completion certificates, you must send and sign the completion certificates from your lending portal
6)Funding (here's how)
- Once the project has been completed, you may request funding for the job.
Only your account admins can request funding
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- Pure Finance Group will fund you via ACH within24-48 hours of your funding request.
- You will receive a notification of funding
- Funding Report emailed at 5pm EST with all deals funded that day
*Things To Note*
Approval Expirations
Once an application is approved, the expiration date will be listed on your decision notification, within the Decision Lender portal, and you can view all upcoming expiring deals in your expiration pipeline. If a deal has expired before being funded, you must recommit the job through your lending portal. This will trigger a new credit pull to be done on the applicant(s), and you will receive a renewed loan decision.
Change Orders
If there is a change to the loan (amount, plan, applicant information, down payments, etc) new loan documents will need to be sent to the applicant.