How We Operate

At Action Loan, our lending process is easy and straightforward. Here are the steps that we follow to get you the hard money that you need.

STEP 1:

Call our office (502-585-5200) to discuss your loan options. Within the first two minutes, we can determine whether a loan is right for you.  You will speak directly with the owner that will make the decision about your loan!

STEP 2:

Once we tell you, “Yes!” you will fax (502-585-1366) or email ([email protected]) the following documentation:

• A complete standard credit and loan application: Download credit application here (PDF) (To view the files, you must have AdobeReader version 6 or higher installed on your computer. You can download a free Adobe PDR Reader at www.adobe.com.)
• A copy of the Purchase and Sale Agreement, if your loan is for a purchase transaction.
• Proof of income to satisfy the loan (tax returns, paystubs, or bank statements).
• Homeowner’s insurance.

STEP 3:

We order an inspection of your property from a local inspector. You pay for the inspection upfront. Please DO NOT order an appraisal. We cannot accept any appraisal that we did not order.

• We order an appraisal, paid for by the buyer.
• We have a property inspector look at the roof, plumbing, phase 1, etc.
• We will personally walk through the property
• The buyer will pay for a title report that we will select and order.

STEP 4:

Once the inspection report and title work are complete, the closing documents will be prepared and the loan closing will be set up with an attorney or title company. This process typically takes between three (3) to seven (7) days. All taxes and liens must be paid off prior to or at closing.

STEP 5:

The loan closes and money is distributed to you.