Frequently Asked Questions

  • What makes First Equity different?
  • We have a background in construction, lending and real estate investing and we have been in your shoes. We understand the importance of getting a deal approved quickly and efficiently. We also understand the importance of creating a construction draw schedule and releasing and funding draws in a timely manner.
  • What are your terms?
  • Generally speaking our rates are 10-13% with 1-3 points charged at closing. For more details, please contact us or see our programs page.
  • Where do you lend?
  • Currently First Equity Funding lends in New Jersey, New York, Pennsylvania, Connecticut, and 36 other states.
  • How long does it take for you to approve loans?
  • We have approved loans in as quickly as 3-5 days however we feel a normal approval time from initial application to funding is about 2-3 weeks. Some loans can take longer to be approved but this delay is usually caused by incomplete applications, insufficient documentation, etc.
  • Who creates the construction draw schedule?
  • We work directly with the investor and contractor to customize each draw schedule so it makes sense for all parties.
  • How quickly are construction draws released?
  • We try to complete draw inspections with 24-48 hours of the request. Once inspection is complete we try to disburse funds within 24 hours.
  • What documents are needed for loan approval?
  • Please go to the apply now section for full details.
  • Do you work with brokers?
  • Yes, please go to the brokers section of our site.
  • How Do Hard Money Loans Work?