FAQs
Where do I send my Loan Application?
Please email, fax or mail your application to us, unless you fill one out online.
E-mail Address : dwilliams@reddoorfunding.com
Fax Number : 713-271-7365
Mailing Address : 110 Avenue B, Suite 100, Stafford, TX 77477
If you have any questions, you can reach us at : (832)539-1099
Can I get a loan if I am a sole proprietor, corporation, partnership, LLC or trust?
Yes, however all loans must be personally guaranteed.
Can I finance closing costs and fees?
Potentially, yes. If the purchase price plus repairs are under 70% of the ARV closing costs can be rolled in. Up to 70%.
Is an appraisal required?
Yes, we require one of our approved appraisers to do an appraisal. We will schedule the appraisal for you and require the appraisal to be paid in advance.
Can I pay for appraisals online?
Yes, there is a button on the Home page labeled “Make a Payment”
Is a survey required?
We typically only require a survey on properties that are in metes and bounds areas, have a pool, or have an addition.
What type of insurance do I have to carry?
At closing, we will require a one year, paid in advance or at closing Builders’ Risk certificate of insurance with a vacancy clause. Also, Windstorm coverage will be required for properties located in Brazoria and Galveston Counties as well as certain locations in East Harris County. Flood Insurance will be required for any property located in the flood zone.
How much is the draw inspection and how long does it take?
The draw inspection fee is $175.00. The Draw Request Form must be turned in by Tuesday and checks are cut on Friday of the same week.
Can I make interest payments online?
Yes, there is a button on the Home page labeled “Make a Payment”
If we are looking for an investment property, can you assist us in finding a property?
Yes, our sister company usually has Wholesale properties for sale that would make ideal investment properties. We also work closely with local Wholesalers that always have properties for sale.
