How to Get Written Loan Terms in 24 Hours (And Close in Under 10 Days)

When a real estate deal is moving quickly, waiting days just to find out whether financing is possible can put an investor at a disadvantage. That is why getting written loan terms in 24 hours can be valuable when you are working with a time-sensitive acquisition, refinance, renovation, or other investment property opportunity.

Boston Trust Corp provides direct private financing for Massachusetts real estate investors. The company underwrites loans in-house, issues written terms within 24 hours, and reports that most loans close in approximately 3 to 10 days. Actual timing depends on the property, the transaction, and completion of underwriting and due diligence.

A fast closing doesn't happen simply because a borrower asks for it. The process usually moves faster when the investor presents a clear deal from the start and is ready to respond quickly as the lender reviews the property.

Here is what investors should know if timing matters on their next deal.

Start With a Clear Deal Story

The first step toward getting written loan terms quickly is giving the lender enough information to understand what you are trying to accomplish.

You do not need to turn the first conversation into a complicated presentation. What matters is clearly explaining the property, the numbers, and your plan.

Start with the basics:

• What property are you buying or refinancing?

• What is the purchase price or current value?

• How much financing do you need?

• What will the loan be used for?

• Does the property need repairs or construction?

• How long do you expect to hold the property?

• How do you plan to repay or refinance the loan?

The lender needs to understand both the property and the loan's purpose.

For example, an investor buying a multifamily property that needs light renovations will have a different financing plan than someone purchasing land for a ground-up construction project.

Someone replacing maturing debt also has different needs from an investor buying a fix-and-flip property.

Being specific helps the lender determine whether the deal fits its lending criteria and which loan structure makes sense.

Boston Trust Corp uses a one-page application that starts with the property address and the deal's story. Borrowers can then speak directly with a decision-maker, and the company says most borrowers get a preliminary answer in that first conversation. Formal written terms can follow within 24 hours when the deal fits the lending criteria.

That direct communication can be especially useful when a transaction doesn't fit neatly into a conventional lending box.

If you know you may need fast financing, do not wait until the day before a deadline to organize the deal. Have the property information, requested loan amount, project plan, and exit strategy ready before contacting the lender.

The clearer the deal is at the beginning, the easier it is for everyone to determine what happens next.

Know What Happens After You Receive Written Loan Terms

Receiving written loan terms in 24 hours is an important step, but it is not the same thing as having a funded loan.

The written term sheet gives the borrower a clearer picture of how the lender proposes to structure the transaction. From there, the lender still needs to complete the necessary review before closing.

Boston Trust Corp's current process includes reviewing title, valuation, and public records before funding. The company lends from its own balance sheet and makes lending decisions in-house rather than sending the transaction to an outside funding source or committee. 

For an investor, this is where responsiveness becomes especially important.

If the lender or closing professionals need additional property information, access for an inspection, title information, entity documents, insurance details, or clarification about the transaction, delays in providing those items can affect the closing schedule.

It also helps to review the written terms carefully when you receive them.

Make sure you understand the proposed loan amount, term, fees, repayment structure, and any other conditions connected to the transaction. If something is unclear, ask about it early instead of waiting until closing.

Your exit strategy also matters.

If you are using a short-term bridge or hard money loan, the lender will want to understand what happens at the end of the loan. You may plan to sell the property, refinance into longer-term financing, complete a renovation and then refinance, or use another clearly defined exit.

A strong deal is not simply one that can close quickly. It is one where the financing works with the larger investment plan.

Boston Trust Corp offers hard money, bridge, construction, fix-and-flip, and investment property financing throughout Massachusetts. Loan structures vary by property and project, so exact requirements depend on the transaction. 

If you are working against a specific closing date, tell the lender immediately. Knowing the deadline from the start helps everyone involved understand how quickly the remaining steps need to happen.

Prepare Early if You Need to Close in 3 to 10 Days

Fast real estate financing works best when the borrower, lender, attorneys, and other parties are all moving toward the same closing date.

Boston Trust Corp says most of its qualifying loans close in about 3 to 10 days, with funds wired at closing. The company also notes that timing depends on the transaction and that every loan remains subject to underwriting and credit approval.

That means investors should treat a fast closing as a process that requires preparation, not as an automatic guarantee.

If you know the deal is time-sensitive, confirm the closing date with everyone involved as early as possible.

Make sure title work is moving forward. Respond quickly when information is requested. If the property needs an inspection or valuation, make it easy to arrange access. If you are purchasing through an LLC or another business entity, have the appropriate documents available.

Construction and renovation projects may require additional information about the scope of work, budget, permits, and draw schedule.

For fix-and-flip financing, for example, Boston Trust Corp structures loans around the acquisition and renovation plan, releasing rehab funds through inspected draws as work is completed. Construction financing similarly uses inspected draws tied to the project schedule. 

The closing timeline can also depend on factors outside the lender's direct control. A title issue, property access problem, incomplete documentation, or unexpected transaction issue can slow things down.

That is why preparation matters.

If you are trying to close quickly, focus on the parts of the process you can control. Give the lender accurate information from the start. Keep communication open. Review requests as soon as they arrive. Make sure everyone knows the deadline.

Speed should not mean skipping important review. It should mean removing unnecessary waiting from the process.

For an investor competing for a property or dealing with a firm payoff deadline, several saved days can make a meaningful difference.

Frequently Asked Questions

Can I Really Get Written Loan Terms Within 24 Hours?

Boston Trust Corp states that qualifying borrowers can receive a formal written term sheet within 24 hours after the deal is reviewed. The exact loan structure still depends on the property, requested financing, underwriting, and the individual transaction.

How Fast Can a Hard Money Loan Close?

Boston Trust Corp reports that most of its hard money loans close in approximately 3 to 10 days. Timing can vary depending on title, valuation, due diligence, property information, and other parts of the transaction.

What Information Should I Have Ready Before Contacting a Lender?

Start with the property address, purchase price or current value, requested loan amount, reason for the loan, project plan, and expected exit strategy. If renovations or construction are involved, having an estimated budget and scope of work ready can also help.

Does Getting a Term Sheet Mean the Loan Is Approved?

No. A term sheet outlines proposed financing terms, but the loan still needs to complete underwriting and due diligence. Boston Trust Corp states that all financing is subject to underwriting and credit approval. 

What Types of Deals Can Use Fast Private Financing?

Depending on the transaction, private financing may be used for acquisitions, bridge loans, maturing debt, investment properties, fix-and-flip projects, renovations, and construction projects. The appropriate structure depends on the property, timeline, and exit plan.

Get Your Deal Ready Before the Clock Starts

Getting written loan terms in 24 hours and moving toward a fast closing starts with preparation. Know the property, understand how much financing you need, have a clear business plan, and be ready to explain how you expect to exit the loan.

If you are working on a Massachusetts real estate deal with a tight timeline, contact us to discuss the property and your financing needs. You can call 617-752-7000, apply with your deal information, or request written terms for review. Boston Trust Corp lends directly from its own balance sheet, with written terms available within 24 hours and most qualifying loans closing in approximately 3 to 10 days.