Our Lending Process
AAPL Member · Direct Lender Since 2016 · NMLS #1979189
The reason hard money has a reputation for speed isn’t magic — it’s that the process is built around the asset, so there’s far less to verify and far fewer hands the file passes through. Knowing the steps in advance is the single best thing you can do to close fast, because most delays come from a borrower being surprised by a request they could have prepared for. Here’s exactly how a deal moves through Tidal Loans, from first contact to funded wire. We’ve run this process as a direct lender since 2016.
Step 1 — Application and Deal Submission
It starts with the deal, not a credit application. You tell us about the property, the strategy, your numbers, and your exit — through our estimator or a quick call. We’re looking at the fundamentals: the purchase price and value, the rehab budget and after-repair value on a flip, or the rent and coverage ratio on a DSCR rental. This is also where we confirm the product fits — our requirements page covers what each one needs.
Step 2 — Term Sheet
If the deal makes sense, we issue a term sheet: your loan amount, leverage, rate, points, term, and conditions, in writing. Because we’re a direct lender, this comes from the people who actually decide and fund — it’s a real indication of terms, not a broker’s guess. You review it, ask questions, and we adjust the structure to fit your priorities (lower points for a longer hold, lower rate to protect monthly carry, and so on) before you proceed.
Step 3 — Underwriting and Documentation
Once you accept the term sheet, we underwrite the deal and collect a light document package — the purchase contract or proof of ownership, your rehab scope and budget for a renovation, entity documents, proof of funds for your down payment and reserves, and a property insurance binder. Notably, there are no tax returns, W-2s, or pay stubs, because we don’t underwrite your income. Our loan document checklist lists everything up front so you can have it ready — the borrowers who close fastest are the ones who do.
Step 4 — Valuation
We confirm the property’s value — and, on a rehab, its after-repair value — through an appraisal or, in some cases, an in-house valuation, supported by your comps. This is the backbone of an asset-based loan, so it’s where we focus, and it’s often the step that sets your true timeline. A clean comps package that supports your numbers keeps this moving.
Step 5 — Closing and Funding
With underwriting and valuation complete, we move to closing at a title company or attorney, where you sign and we fund. On a purchase you close in your entity; on a refinance we pay off the existing loan and, for a cash-out, wire you the difference. For a construction or rehab loan, the rehab portion is then released through draws as the work is completed and verified. From there, you execute your project and exit through the plan we mapped at the start.
The Process at a Glance
The Process at a Glance
Frequently Asked Questions
With the deal. You submit the property, your numbers, and your exit through our estimator or a call — not a long credit application. We assess the fundamentals and confirm which product fits before anything else.
A written summary of your proposed loan — amount, leverage, rate, points, term, and conditions. Because we’re a direct lender, it comes from the people who actually fund the loan, so it’s a real indication of terms you can rely on, not a broker’s estimate.
A light, property-focused package: the purchase contract or proof of ownership, your rehab scope and budget on a renovation, entity documents, proof of funds, and an insurance binder. No tax returns, W-2s, or pay stubs. Our loan document checklist lists it all.
Because we underwrite the asset, not your income, there’s far less to verify and the file passes through fewer hands — no income documentation, no debt-to-income analysis, and no outside committee. The main timeline driver is usually the property valuation.
Have your documents ready before you apply and bring a clean comps package that supports your numbers. Most delays come from missing paperwork or valuation surprises, both of which you can prevent with preparation.
Ready to start your application?
Submit your deal and we’ll tell you exactly where it stands at every step. See the funding timeline for how long each stage takes.