Frequently Asked Questions
Have questions? We’ve got answers. Browse through the most commonly asked questions below to learn more about our services, process, and what to expect. If you can’t find what you’re looking for, feel free to reach out!
Private money loans are a specific type of asset-based loan that is typically secured by real estate. At HeliosOne Capital, loans are backed by non-owner occupied residential real estate or commercial real estate. Also note that we do not report to credit bureaus.
HeliosOne Capital offers faster funding, flexible underwriting, and asset-based evaluation without the strict debt-to-income limits, W2 tax return demands, or lengthy approval cycles of traditional bank institutions.
An appraisal is required for all loans to allow us to fully understand the collateral which we are providing a loan against. We leverage various Appraisal Companies to ensure we get the best appraiser assigned to each specific property’s needs.
- When you are ready to request reimbursement for work completed, you can email us or request a draw directly via your borrower portal.
- We allow for a snap/self inspection or can request a third-party inspection. Along with this we will ask for a list of the line items that have been completed to date, by percentage. Example: Flooring – 100% Complete, Drywall – 50% for material on site, etc.
Two Options are as follows:
- If Inspector: Please allow the inspection company 48 hours to reach out to Point of Contact to schedule.
- If Snap: A new snap link is sent for each draw requested. The pics must be taken through the TruePic app, on location.
- Once you have followed the prompts in the app, completed taking your photos and hit "Submit", you are done.
- The report is drawn up and reviewed. If all is in line, the wire typically goes out within 12-36 hours of the photos being sent back.
For loan amounts >120K+, you only pay interest on the funds that have been disbursed.
Construction holdback amounts remain in reserve until they are drawn, and you will begin paying interest on those amounts only after they are released.
To find out more about our broker/referral fee program, feel free to reach out to our team at info@helios1cap.com.