Many of our clients say that Gap Equity Loans meets their financial needs better than traditional banks.
How do we do it?
We are “A Better Choice” for our clients because we focus on three core factors: Speed, Flexibility, and Approval.
Speed of Equity Loans
Our access to Private Lenders willing and able to quickly fund a loan is a huge factor in our success. This makes the difference between winning and losing on an opportunity. Many private lending services compete for qualified borrowers, so speed in closing is very important.
In most cases, we can close and fund a loan within 7 – 10 business days. Compare that to the typical 30 – 45 business days with traditional banks, and you can see why our clients choose us. Real estate developers, homeowners, real estate investors, business owners choose us.
Flexibility of Equity Loans
The second core factor that makes Gap Equity Loans a better choice is flexibility in terms offered. We work with our Private Lenders to structure the loan repayment and collateral (equity) release terms, so they are mutually beneficial to both parties.
If you have obtained a loan from a traditional bank, you know that usually are not that flexible. They process loans in a “one size fits all” manner which obviously doesn’t work for all borrowers.
We set up loans based on a percentage of the quick-sale value, known as LTV (loan to value), of the property used as collateral for the loan. The maximum loan to value ratios are typically 50%.
Approval of Equity Loans
Sometimes traditional banks will deny loan requests due to a self-employed borrower, a short work history, lack of income history, bad credit, and much more.
In addition, foreigners must generally have permanent residency without conditions before traditional banks will even consider them for mortgages. If you have any questions about the types of Costa Rican residency or need to get started with the process, please consult our sister company Costa Rica Immigration Experts.
We work with borrowers to get quick approvals on their loan requests. Our private lenders usually can look past those issues as long as the borrower can repay the loan and that he or she has sufficient capital invested in the collateral property.
In closing, we hope that you now see what our previous and continuing clients know…
Gap Equity Loans Are A Better Choice Than Traditional Bank Loans.