How It Works
From first contact to funded deal — faster than you think.
Most deals close in 5 business days. Here’s exactly how we do it.
5 Steps to Funded
Every NextRes deal follows the same streamlined path. No surprises, no bureaucracy — just capital.
Submit Your Deal
Fill out our short online application. No full loan package required upfront — just the basics: property address, purchase price, estimated ARV (for fix-and-flip), desired loan amount, and a brief description of your strategy. Our application is designed to take 10–15 minutes, not hours. We ask only what we need to give you a meaningful initial response. If we need more information, your loan officer will reach out directly — not a call center, not a bot.
What to provide
- Property address
- Purchase or refinance amount
- Target loan amount
- Exit strategy (flip, hold, refinance)
What happens next
- 10–15 minute online application
- Confirmation within 1 business hour
- No commitment, no credit pull
- Secure document portal access
Speak with a Loan Officer
Within 4 business hours of your application, a dedicated NextRes loan officer will call you. No call centers. No transfers. One person who owns your deal from start to finish. This isn't a perfunctory call — it's a real underwriting conversation. Your loan officer will review your deal structure, ask follow-up questions, discuss how we're thinking about valuation and risk, and walk you through our rate range and program options. You'll end the call knowing exactly where you stand.
You discuss
- Deal overview and property details
- Exit strategy and timeline
- Any special circumstances
- Questions about our programs
You receive
- Verbal indication of interest
- Rate range and program fit
- Required docs list
- Dedicated direct phone number
Receive Your Term Sheet
Within 24 hours of your initial call, you receive a formal term sheet outlining rate, LTV, term, fees, and conditions. Our term sheets are clear, complete, and designed to avoid surprises at closing. No vague ranges or conditional language designed to keep you guessing. What we quote is what we stand behind — subject only to property verification and standard closing conditions. You review and sign electronically, pay the appraisal deposit (credited at closing), and we move into underwriting immediately.
Your action items
- Review term sheet thoroughly
- Sign electronically via DocuSign
- Pay appraisal deposit (credited at closing)
- Confirm property access for appraiser
What we deliver
- Clear, complete term sheet
- No hidden fees or surprises
- DocuSign execution in minutes
- Appraisal ordered same day
In-House Underwriting
Our in-house underwriting team — no outsourced processors — reviews your deal. We order the appraisal, review title, and verify the property condition. For most deals, underwriting is complete within 2–3 business days. Because we control this process internally, we can move fast and communicate clearly. When we need something, we ask once and process it the same day. Our underwriters are also authorized decision-makers — no loan committee delays, no waiting for a committee that meets once a week.
Documents needed
- 2 months bank statements
- Entity docs (LLC/Corp) if applicable
- Government-issued photo ID
- Insurance binder (at closing)
What we don't require
- No tax returns required
- No W-2s or pay stubs
- No employment history
- No debt-to-income ratio review
Close & Fund
You sign at the closing table. Wire arrives same day or next morning. Our servicing team is in place from day one. For fix-and-flip and construction loans, draw requests are processed within 48 hours of request — no waiting weeks for an inspector to schedule. We wire directly to title or escrow and confirm receipt with your loan officer. After closing, you'll have full access to your borrower portal to manage your loan, submit draw requests, upload documents, and communicate with your servicing team.
At closing
- Sign closing documents
- Confirm wire instructions
- Receive funding confirmation
- Access borrower portal
After closing
- Same-day or next-morning wire
- Draw requests within 48 hrs
- Dedicated servicing team
- 24/7 borrower portal access
NextRes vs. Traditional Lenders
Time-to-close matters. Here’s how we compare.
What We DON’T Require
Unlike traditional lenders, NextRes underwrites the asset — not your personal income history. This is how we move fast and help more investors win more deals.
Traditional lenders require:
- Tax returns (last 2 years)
- W-2 income verification
- Employment history
- Debt-to-income ratio calculation
- Lengthy appraisal waiting periods (3–6 weeks)
- Bank statements for 12+ months
- Full personal financial statements
NextRes only needs:
- Property information and address
- 2 months bank statements
- Entity docs (LLC or Corp)
- Government-issued photo ID
- Clear exit strategy
- That’s it.
Frequently Asked About Our Process
What happens if I can't provide all documents immediately?
Your loan officer will work with you on timing. Most deals can be conditionally approved before all documents are in — we move forward as fast as you can provide items. We'll never hold your file open waiting for something we can work around.
Can I submit multiple deals at once?
Absolutely. Many of our repeat borrowers run 3–5 deals simultaneously with NextRes. Each deal gets its own dedicated loan officer, and we have the capital to fund all of them without delay. Contact your AE or our broker desk to discuss concurrent deal structures.
Do I need an LLC or entity to borrow?
For most of our loan products, we require a business entity (LLC, corporation, or partnership) as the borrower. This is standard in private lending and protects both parties. If you don't have an entity, we can recommend formation services that can have you ready in 24–48 hours.
What if the property doesn't appraise at the purchase price?
This happens, and we handle it like professionals. Your loan officer will call you immediately with the appraisal results and discuss your options: renegotiate the purchase price, bring additional equity to close, or walk away (appraisal deposit may be refunded depending on circumstances). We don't waste your time — we give you real options.
How are draw requests handled for rehab loans?
Draw requests are submitted through your borrower portal and processed within 48 business hours. For amounts over $50,000, we conduct a quick property inspection (typically scheduled within 24 hours). Funds are wired directly to you or your contractor. We process draws against a pre-approved draw schedule based on your renovation scope.
What if I need to close faster than 5 days?
We've closed in as few as 3 business days for repeat borrowers with clean files and full documentation ready at submission. For new borrowers, provide your complete document package on day one, respond same-day to any questions, and confirm your title company is ready. Tell your loan officer your deadline — we will do everything possible to meet it.
Ready to Fund Your Next Deal?
Get a free rate quote in minutes. No commitment required. Our team is standing by.