FAQs
Where is Dunmor based?
Dunmor is headquartered in Los Angeles, California. We lend nationwide and have team members across the United States.
Who are Dunmor’s clients?
We help landlords, part-time real estate investors, developers, and real estate funds.
Are you hard money?
Dunmor is a direct national non-bank lender specializing in loans for professional real estate investors. Our rates are more affordable than hard money loans and slightly higher than traditional bank loans. We simplify the borrowing process by requiring fewer documents than banks but slightly more than hard money lenders, offering a balance of cost and convenience.
What is a Fix and Flip loan?
A fix-and-flip loan is a short-term mortgage designed to help investors buy and renovate a property quickly. Typically lasting 12 to 24 months, it covers both the purchase and repair costs until the property is sold or refinanced.
Do you fund the repair costs?
Yes, we specialize in fix and flip loans, and we typically fund 100% of the repair costs.
How are construction draws handled?
Borrowers request a draw, and within 48 hours, a third-party inspector assesses the completed work. After the inspection, funds are released and wired to the borrower’s account.
Do you work with first time investors?
We currently work exclusively with investors who have completed at least one prior investment. For your first investment, we recommend consulting with a local lender, bank, or credit union.
How do I qualify for a loan
Start by applying online or talking with one of our loan officers. If approved, you’ll get a personalized rate in minutes. Answer a few questions about your experience and the property you want to finance, and we’ll give you personalized loan options. We don’t offer pre-approvals, but you’ll receive a pre-qualification summary after submitting your application.
What is the minimum credit score for a loan?
Our current minimum FICO score is 650 and 660 for rental products.
What types of properties does Dunmor lend on?
Dunmor offers bridge and rental property loans for 2–4-unit properties, attached/detached PUDs, and single-family homes. We are expanding and will soon include more property types. Currently, we do not finance mobile homes, or rural properties with 4 or more acres.
Do you require appraisals
Yes, Dunmor does require appraisals. All Appraisals are performed via a third-party AMC
What are your maximum and minimum loan amounts?
Our minimum loan amount is typically $100k and our maximum loan amount is typically $4 million
What is your maximum loan-to-value?
Our current max LTV on bridge loans is 75% and DSCR currently stands at 80% LTV
How fast can Dunmor close on a loan?
We pride ourselves on quick closings and can comfortably close in 10-14 business days.
