The Process – From Start to Finish
At RELM, we understand that time is of the essence when it comes to real estate investments. Our streamlined bridge loan process is designed to help you close faster. Here’s a step-by-step guide to navigating the RELM Fix and Flip Loan process:
Step 1
Pre-Qualification
When you reach out to RELM, you’ll connect with a dedicated Lending Specialist to discuss your deal in detail. We’ll review key information such as the property address, purchase price, rehab budget, and after-repair value (ARV).
We’ll also ask about your real estate investment or construction experience, available capital, and the credit score of your guarantor. With these details, we can quickly analyze your deal, provide insights, and prepare a custom loan estimate.
If you’re ready to make an offer, your Lending Specialist can issue a Proof of Funds Letter—often within just a few minutes.
Step 2
Loan Application
Once your offer has been accepted, it’s time to prepare your loan application by gathering the necessary supporting documents. Along with your ratified purchase contract, you’ll typically need to provide:
-
Scope of Work detailing your construction and renovation plans
-
Government-issued ID
-
Bank statements from the past two months
-
Entity formation documents (LLC, corporation, etc.)
-
Track record of past investment or renovation experience
Submitting these items early helps streamline the approval process and keeps your project moving forward without delay.
Step 3
Processing
Once your loan application is submitted, it moves into Processing for a detailed review. During this stage, several key steps take place:
-
A property valuation is ordered — either a desktop review or an in-person appraisal, depending on the deal.
-
Preliminary title documents are requested from your selected Title Attorney.
-
Insurance coverage is verified or requested to meet lender requirements.
This stage typically takes about one week to complete and brings you one step closer to closing on your project.
Step 4
Underwriting
At this stage, all supporting documents have been received and the appraisal report has been reviewed. If the after-renovation value (ARV) remains consistent with the initial estimate, your file is ready to be submitted for underwriter review and approval.
If the property valuation comes in higher or lower than expected, a revised loan cost summary will be provided for your review before submission.
The underwriting process typically takes 24 to 48 hours, moving you one step closer to closing.
Step 5
Approval
Once your loan receives underwriter approval, it moves into the Closing stage. At this point, the Closing Attorney coordinates with the Title Company to begin preparing all required closing documents.
This step ensures that every detail — including fees, terms, and borrower information — is accurate and ready for signing.
The approval and document preparation process typically takes 24 hours or less. Once completed, the Closing Attorney will contact you directly to schedule your closing appointment.
Step 6
Closing
Once your closing documents have been reviewed and approved, you’ll wire the required funds to the Title Company in preparation for settlement.
At your closing appointment, you’ll sign the necessary documents and officially receive the keys to your property — marking the start of your project.
After closing, you’ll be provided with detailed instructions on the Draw Process, which explains how to request funds from your approved construction budget as work progresses.
