How long does it take to close a deal?2019-12-31T12:02:49-05:00

We try to work with the borrower’s needs. Every deal is different depending on if we need an appraisal or not. If we don’t, it can be 5-10 days. If we do, sometimes appraisals are running a few weeks.

How long does it take to approve a deal?2019-12-31T12:02:40-05:00

We move fast if we get what we need and a good understanding of the deal. We try to approve it and issue a term sheet within an hour or so.

Who does the processing?2019-12-31T11:57:17-05:00

Our team at Gelt Financial does, keeping you informed every step of the way.

Do I need a license to deal with Gelt?2019-12-31T11:56:24-05:00


Do you protect my points?2019-12-31T11:55:43-05:00

Prior to us issuing a term sheet we will ask the broker how many points they are charging, we put the broker and their points right on our term sheet and the title company will pay the broker directly from closing.

What types of properties won’t you do?2020-09-05T17:26:16-04:00

We do not lend on land, construction lending, farms, rural properties or assisted living facilities.

What do I need to submit a deal?2019-12-31T12:01:28-05:00

You can call us and run the deal verbally by us or email it to us. It’s best to start with a complete 1003 or Personal financial statement, credit, and summary of the loan. If it’s an income-producing property, a rent roll and income and expense statement is a big help.

Do I need to be approved with Gelt?2019-12-31T11:53:02-05:00

No, feel free to start running deals by us, because we lend on commercial and investment properties there is no formal approval process.

I need to change my contact information2019-12-31T11:49:57-05:00

Please send us your new contact information and we will update our records.

What do I do if my homeowners Insurance or taxes increased?2019-12-31T11:48:58-05:00

Please send us the new bills and we will adjust your monthly escrow if we are escrowing for the loan.

I received my insurance or real estate tax bill and Gelt is escrowing the funds to pay this2019-12-31T11:47:32-05:00

As soon as you received the bill send it to our servicing department the bills and we will pay it?

I am in bankruptcy now, can I get a loan?2020-08-29T07:53:30-04:00

We are very active in the debtor in possession chapter 11 space doing loans in bankruptcy or as exit financing.

Who services your loan?2019-04-22T15:17:53-04:00

We do, you will be dealing with the same people.

How much of a down payment do I need?2019-04-22T15:10:01-04:00

It depends on the situation, we are collateral driven and focus on the value of the collateral, as well we allow our borrowers to use other real estate they own instead of a down payment.

What if my property is in foreclosure now?2019-04-22T15:08:29-04:00

Yes, we have foreclosure buy out programs!

Can I still get a mortgage with a foreclosure on my record?2019-04-22T15:07:25-04:00

Yes, this is one part of many parts of the deal, we look at the total situation.

Can I still get a mortgage with a bankruptcy on my record?2019-04-22T15:06:15-04:00

Yes, this is one part of many parts of the deal, we look at the total situation.

What if I can’t verify my income?2019-04-22T15:04:08-04:00

That’s ok, we understand that and have programs designed for this.

I don’t have good credit, will that prevent me from getting a mortgage?2019-04-22T15:01:56-04:00

While every deal is different, being a non-bank lender, most of our borrowers have or had credit issues, therefore, we focus on the future and on the property.

Bad credit? Credit problems?2019-04-22T15:00:48-04:00

We understand credit problems and challenges we work around them and focus on the future and the property. Credit problems are understood.

How long for my closing?2019-04-22T14:59:11-04:00

We can move very fast, it really depends on your time frame and we work to meet your needs.

Why Gelt Financial compared to a bank?2020-08-29T07:56:44-04:00

Gelt is a non-bank lender and does not have the restrictions that banks have, we are creative and flexible as well move fast.

Do you lend on discount note purchases?2019-02-11T14:40:57-05:00

Yes, we do. We are opportunity lenders and have been lending on discount note purchases for years.

Do you do foreclosure bailout loans?2019-02-11T14:42:45-05:00

Yes, we do. We understand that things happen in life and are always looking to the future.

Do you do construction lending?2019-02-11T14:43:02-05:00

Sorry, we do not.

Do you lend on land?2019-02-11T14:43:17-05:00

Sorry, we do not.

Do you have a minimum credit score?2020-08-29T07:52:17-04:00

No, we are not credit score driven. We look at the complete picture.

Do you require seasoning?2019-02-11T14:45:06-05:00

No, we do not. We look at every request on an individual basis.

Are your rates higher than a bank?2020-09-05T17:19:39-04:00