Conventional mortgages usually take between 45 days to 90 days overlap to fund, since institutional lenders need to obtain an appraisal of the property’s value, perform a detailed examination of the borrower’s credit history, and thoroughly evaluate the borrower’s current financial status.  After that it then needs to go through the banks approval centre.  In some cases our borrowers would miss an entire building season.

On the other hand, Arres can usually complete a transaction within seven to ten days, given proper documentation and the expedited focus of Arres trained loan approval committee.  Since the property itself is the main criteria used to determine loan eligibility, less information on the borrower is required which results in a much quicker approval process.  Further, the private mortgage lender can make a decision within 24 hours of receiving information, whereas institutional mortgage money must be approved by a loan committee that may meet only once or twice a month.