FAQs

Yes, we are. We work with all our borrowers from application through funding of the loan, which creates a seamless and consistent experience.

YouLand handles payment administration and collection. Moving forward, we may transfer ownership of your loan to an investor who will provide servicing. We have a large roster of reputable servicers and mortgage investors including major US banks, government-sponsored entities, publicly-traded mortgage companies, and specialized servicing firms. We collect third-party reviews and survey our borrowers post-transfer to ensure the permanent servicers are quality partners. In the event that your loan is transferred to a new servicer, YouLand will send you a notification with details on where to send future payments.

We currently offer home loans in California, Oregon, Washington, Texas and Colorado, but we’re growing all the time. We plan to expand to several dozen states by the end of 2023.

We are working diligently with federal agencies and partners to roll out alternatives to in-person appraisals where we can. These measures may vary based on the loan, so your Mortgage Expert can help you discuss your options.

A bridge loan is a short-term loan program to be utilized until permeant financing is secured or a property is sold. It is very popular for real estate investors when comes to purchasing properties to fix and flip. Bridge loans help buyers to increase their odds of winning bidding wars since they're essentially as strong as full cash offers.

No income verification required,

Minimum FICO 640,

Fast closing time frame (5 days upon receipt of all documents)

No. You can pay off your loan in advance at any time.

YouLand guarantees the most competitive bridge loan rates, starting from 9.990%.

25%. The lowest is up to 20%, but the rate will be about 1% higher.

Up to 18 months.

Yes, for up to 6 months. There is an additional fee for a 3-month extension at 1% of the loan amount and an additional fee for a 6-month extension at 2%.

1.5% of the loan amount. (Standard fee for YouLand loans)

An appraisal is required, but with YouLand, an appraisal report can be provided after the loan is completed to ensure loan speed.

Yes, but the down payment requirement will be higher, usually around 25%-30%.

Investment properties only.

As soon as 5 days upon receipt of all required documents.

A rental loan is loan program designated to purchase or refinance rental properties only.

Yes, a rental loan is one of the non-income-searching loans, where the rent of the house is used as a proof of the loan and no W-2 or tax check is required.

Yes, a Single Family Comparable Rent Form (Form1007) and a Uniform Residential Appraisal Form (Form1004) are required. The report must be approved by YouLand, and the cost of the appraisal will be paid by the borrower, which is around $600-$800.

A rental loan is for rental properties, not primary residences. Rental loans also do not require personal debt to income ratios. The primary considerations are the current market rents and expenses related to the subject property only. Rental loan programs are more flexible and are easier to qualify for compared to other loan programs.

80% LTV for purchases and 75% LTV for refinances.

Proof of good mortgage history for the past 12 months OR,

Proof of good rental history for the past 12 months,

Minimum FICO 575.

Yes, the DSCR requirement of YouLand is extremely flexible and we can do it for less than 1%. If the rental income is not enough to cover the repayment, then the borrower should show proof of a deposit above the annual difference. For example, if the rental income is 3,000 per month, but the monthly payment is 4,000, the loan can be approved with a certificate of deposit or bank certificate that is higher than 12,000.

If you choose not to pay off the loan early for 3 years, but pay off early within 3 years, you will have to pay a penalty of 3% of the loan amount in the first year, 2% of the loan amount in the second year, and 1% of the loan amount in the third year. If you choose the 2 year no prepayment plan and repay early within 2 years, you will pay a penalty of 2% of the loan amount in the first year and 1% of the loan amount in the second year. If you choose a plan with no early repayment within 1 year, but repay early within 1 year, you will pay a penalty of 1% of the loan amount.

You can also choose a loan with no early repayment penalty, but the rate will be higher. It is recommended that if you do not have plans to buy or sell a home at present, you can choose a longer term plan without early repayment, which will result in a lower rate.

If you are buying a home, you do not need to provide the tenant's rental contract and proof of rent payment, but you must provide an appraisal report and proof as follows:

A. For first time buyers, the borrower's previous rental contract for other housing, along with a copy of at least two months' rent and bank verification.

B. For non-first time buyers, proof of the previous loan for the property.

In case of refinancing, the tenant's rental contract and proof of rent payment for at least 2 months are required.

As soon as 30 days upon receipt of a full loan package.

We give you what you need to start making offers on your home. Buying a home is a big deal. Whenever you're ready to place an offer, you can be confident that the buyer knows you are serious by getting pre-approval for a mortgage.

YouLand offers a verified pre-approval instantly.

A verified pre-approval provides a comprehensive assessment of your finances without requiring a hard credit check to show you and potential sellers what you can afford. We verify your income, debt, credit score and real estate ownership. We turn around pre-approval instantly after we receive your information.

A verified pre-approval only requires a soft credit check, so it will not affect your credit. We will always ask for your permission before checking your credit.

Pre-approval letters expire after 120 days. If your financial situation changes before then, you may need an updated letter.