Before The Loan Questions
- Do I need good credit?
We do not use credit to qualify you for our loans.
- Do I have to have my name on the title to apply for the loan?
You must be on the deed to execute the loan. All legal owners are required to sign and execute the documents.
- How much will payments be?
You can get an idea of your payment by using our online payment calculator.
- How do I apply for a property tax loan?
It's quick & simple. You can apply online or call 817-689-9534.
- What information do I need when I call?
When you call you will be asked for basic information about the property and yourself.
- How long will it take to approve a loan?
Most of our borrowers are approved the same day. We can approve you over the phone.
- After we are approved how soon until we can close the loan? How long does it take to close the loan?
It is up to you. Let us know what time is best for you to close the loan. Our closings are generally no more than 30 minutes.
- Are there any upfront costs to an FYP loan?
No, our fee is rolled into the loan, so you have no upfront costs.
- What are your fees?
Our fee for residential properties is $500 and $1,000 for commercial.
After the Loan Questions
- When will the property taxes be paid?
After closing, the taxes are paid within the next two business days.
- How do I know that the taxes are paid?
You can view your tax account online in many counties, or by request we can mail you a copy of the receipt.
- How will I make my monthly payments?
You will receive a monthly statement and can either mail in payment, or set up a bill payment through your financial institution.
- When is my payment due; will I be charged a late fee for payments made after this
date?
All payments are due on the 1st of each month. A late fee of $25 will be charged for payments received after the 8th of each month. The first time a late fee applies we will waive the fee.
- Will my property be foreclosed upon if I am late or miss a payment?
We do not want to foreclose on your property. We're in the business of making tax loans, not owning property. We will make every effort to keep you in your property.
- May I prepay my loan?
Yes, the loan may be paid in full or part at any time without any pre-payment penalties. We encourage you to prepay; it will save you money in the long run.