FAQs

1. When you are ready to request reimbursement for work completed, you can email our designated draws team requesting a draw. (Draws@insulacap.com)
2. You can do a snap/self inspection or send this order to a third-party inspector
   1. Along with this we will ask for a list of the line items that have been completed to date, by percentage.
      1. Example– Flooring- 100% Complete,  Drywall- 50% for material on site, etc.
   2. Two Options are as follows:
      1. If Inspector: Please allow the inspection company 48 hours to reach out to Point of Contact to schedule. 
      2. If Snap: A new snap link is sent for each draw requested. The pics must be taken throughthe app, on location.
         1. The app is called Tru-pic. The link will automatically take you to where to down load the True pic app. 
3. Once you have followed the prompts in the app, completed taking your photos and Hit “Submit” you are done.
4. The report is drawn up and reviewed. If all is in line, the wire typically goes out within 12-36 hours of the photo’s being sent back.

No, you only pay interest on the funds that have been disbursed. Construction holdback amounts remain in reserve until they are drawn, and you will begin paying interest on those amounts only after they are released.

Closing costs typically include loan origination fees, title insurance, property insurance and legal fees. The exact amount depends on your specific loan terms and property location. We provide a clear breakdown of all costs upfront, ensuring full transparency before you close.

Funding can occur as quickly as 5–10 business days, depending on how promptly you provide the required documentation. For urgent deals, we strive to expedite the process even further.

Yes, refinancing is an excellent option once your renovations are complete especially if you are looking to hold the property as a rental. Refinancing can help you secure a lower interest rate or access equity from the improved property value. Insula offers a full array of refinance options. 

Yes, we finance rural properties, although certain restrictions may apply based on the location and project specifics. Reach out with your property details for a tailored evaluation.

No experience is required! We specialize in lending to both first-time investors and lifelong professional investors. We can provide the support and resources you need to succeed with your next deal regardless of your experience level. 

Qualification focuses on the property’s value, the strength of the deal, and your individual profile. We consider factors such as your credit history, financial documentation, and project details. While experience will strengthen your application, it’s not required, as we work with first-time investors.

Yes, extensions are available if needed, subject to approval. We assess your project’s progress and work with you to ensure you have the time needed to succeed.

You can request a revision to your scope. You cannot include work that has already been completed. We will not allow Roof/Siding/Kitchen/Baths to be downgraded in most cases as these are huge factors in assuring you obtain the appraised after rehab value. 

We will not increase your budget post funding. This is not possible for a number of reasons, beginning with it not lining up with the way the loan was underwritten.