Frequently asked questions

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Here are a few of the most common questions you may have about Glorius.
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  • What requirements does GLORIUS have for posting listings or loan requests on the platform?

    For initial purchases or refinancing investments, our prerequisites are:

    • Minimum loan amount of $30,000
    • LTV (Loan to Value) below 80% - a minimum down payment of 20%
    • Loan duration of 3 to 60 months
    • 1-4 residential units, multi-family units, commercial properties, vacant lots not being used for personal, family, or household use.
  • How much does it cost to place a loan request on your platform?

    It is FREE! There is no cost to place a request or listing on the GLORIUS site. Borrowers will only pay for an appraisal, closing costs, origination points, and monthly interest once a deal has been negotiated and accepted.

  • How do you guarantee the security of my personal information?

    GLORIUS will treat all personal information confidentially and will not pass any personal data on to any third party or any other organization. Any identifying information you submit (e.g. your name and email address) that is stored for research purposes will only be stored for a period of time and will then eventually be deleted entirely from our systems. Any data we do retain will be entirely anonymous and any information identifying you personally will be removed.

  • What type of information will I be required to provide to GLORIUS?

    Valid Passport
    Purchase Contract or Warranty Deed
    Payoff statement/letter of demand for any refinance
    Borrower’s attorney or escrow company information
    Articles of incorporation/articles of association, if applicable

  • How long does the loan process normally take?

    This depends on how attractive your posting is. A larger down payment and flexibility regarding interest rate and/or points could mean that you find the right financing partner in just a few hours. However, it may take longer if your profile contains loan features that are less appealing to potential lenders. Our GLORImatch system is also available to match you automatically with lenders.

    Once a match has been found and negotiations are confirmed, the closing process will commence. On average, the appraisal will take 4 to 5 days to complete. During this time, the title insurance, property-owner insurance and survey will be ordered. Total turnaround time for closing a loan can be as few as 5 days. However, 10 business days is the average.

  • Can I withdraw my request after it is launched onto the platform?

    You can withdraw your match request at any time if you have not yet started direct negotiations with an investor. However, we strongly advise you to leave your request on the platform as we only permit a certain number of withdrawals per user.

  • Why should I use GLORIUS instead of a traditional financing route?

    At GLORIUS, we are able to complete the entire financing arrangement process in just 5-10 days. We work with individual and private investors, so GLORIUS gives you the opportunity of finding precisely the right lender to meet your specific needs. We enable both parties to jointly define the parameters of the loan, such as interest rate, points, loan to value, term and conditions, and more, including both hard and soft costs. We offer great flexibility in selecting the type of loan that best matches your needs. We remove any concerns about complex documentation, time-consuming approval processes or restrictive guidelines. Our focus remains on the property as security.

  • Can you assist if I have undeveloped land and wish to build on it?

    Yes. We offer financing for vacant land, including residential and commercial zoning.

  • Is there a pre-payment penalty?

    Pre-payment penalties are part of your negotiating with the lender.
    You can take all factors into consideration and decide what works best for your situation

  • Does GLORIUS handle projects in all states?

    GLORIUS currently only handles projects in Florida. However, GLORIUS is constantly growing and will be offering the same great service in several other states in the near future.

  • What are escrow payments and why are they collected?

    An escrow payment is a common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and/or interest portion of a mortgage payment. Typically lenders collect these payments to ensure that the yearly taxes and insurances are paid. When you obtain your loan, an escrow account is set up to collect the property taxes and insurance in equal monthly payments over a 12 month period. The tax bill and renewal insurance are then paid by the mortgage holder and not the property owner. The account is reviewed annually and all overages are refunded back to the borrower, however any shortage will need to be collected. Once the loan is paid off, the escrow accounts are released and the home owner is then responsible to pay the taxes and insurance yearly.

  • What am I investing in? Do I actually now own a piece of property?

    By choosing to invest through GLORIUS, you will be offering a first lien mortgage to a borrower seeking financing to purchase or refinance certain real estate property. You will be the sole mortgage holder and hold the promissory note on the property. Although, you will not own any part of the property, your loan will be secured by the borrower’s property and, if there is a default of payments on the loan, you will have the option to foreclose on the property in order to recoup your investment.

  • What interest rates are available?

    The interest rate of each mortgage may vary. These rates can range from 4% to 18%. Since each mortgage is unique, you as the investor will be able to negotiate directly with the borrower the rate of interest and other such terms, using our state-of- the-art GLORIUS negotiating tool.

  • What are the fees?

    There are NONE. GLORIUS does not charge fees to investors for using our system. All costs are paid by the borrowers at the time of closing.

  • What is the duration of my loan?

    Your loan will be extended for the term you negotiate. Mortgage terms generally range from 3 months to 5 years.

  • Can I get my principal back at any time?

    Your principal (the amount initially lent by you) is paid back either at the end of the mortgage term or when the borrower repays the mortgage, whichever is sooner.

  • How are you able to offer higher interest rates?

    GLORIUS offers mortgages to real-estate investors for real-estate projects, such as refinance, property rehabilitation, bridge loans, and investment purchases. While not all borrowers are foreign nationals (non-US citizens), GLORIUS focus is to this niche market. Typically, foreign nationals have a more difficult time obtaining mortgages, and associated rates are commonly higher than those attached to mortgages for US citizens. Since you, as the lender, can negotiate directly with the client, you can use the GLORIUS rating system as an additional tool for your negotiations since this system will automatically determines a risk category for the transaction.

  • Why would borrowers borrow at such high rates?

    It is likely that borrowers are paying similar rates, if not even higher, to other loan providers. With GLORIUS, however, clients benefit from our rapid, efficient, and transparent handling, the ease of use of our system, and our ability to provide financing, even if clients are not U.S. citizens.

  • When will my loan investment generate a return?

    You will see the first return at the closing, based on the points and interest charges upfront. Subsequently, you will receive monthly or quarterly interest (calculated from the first to last day of the month) which is paid with each payment. Then on the mortgage’s maturity date, or upon full repayment of the mortgage by the borrower, whichever takes place sooner, you will receive a balloon payment amounting to the remaining principal and the outstanding interest.

  • Is there a minimum loan amount?

    Yes. The minimum loan amount permitted is currently $30,000 per loan, unless an investment opportunity that requires a lower investment amount is available.

  • What impact would mortgage and/or loan interest rate rises have on GLORIUS?

    Interest rate rises could dampen the real-estate market, increasing mortgage loan costs for borrowers, especially non-US citizens. We cannot predict if or when mortgage rates will rise, nor the extent to which rate increases could affect the opportunities for real-estate rehabilitation and refinancing. GLORIUS believes that our ability to serve a wide range of borrowers and provide our investors with ongoing lending opportunities would continue. We will continue to constantly monitor the economic cycle and all Federal Reserve movements as this relates to our business.

  • Are these loans risky?

    Although we would characterize these types of loan as less risky than other investment types, such as those based on the stock market, there is still a risk involved. No guarantee can be given when investing in real estate. The real estate market undergoes economic cycles and it is difficult to estimate how and when changes in economic conditions will occur. We strongle advise loan investors to carry out their own due dilligence of each deal as well as to examine the lender agreement, the GLORIUS terms of use, and the closing documents such as the mortgage and note.

  • Why are you not offering equity deals like other platforms?

    GLORIUS is not offering equity deals because we believe real-estate debt to be the best type of real-estate investment available. Real-estate debt offers a first lien position on property, which we believe provides more security. In addition, most investors opt for a short-term debt (5 years or less) which better protects against a possible downturn in real-estate.

  • Does GLORIUS retain any position in the loan?

    GLORIUS does not retain any position in the loan. We let investors choose the properties and borrowers that they feel the most confident in.

  • What happens to my investment if something happens to GLORIUS?

    Since each investor funds 100% of the first mortgage to each borrower, either you personally or your company are the sole mortgagor. GLORIUS therefore has no position on the mortgage loans. As a result, these mortgages are more secure than those arranged through crowdfunding or via companies that prefund or have a position on the loan offered.

  • What happens to my investment if a borrower defaults on a loan?

    While GLORIUS makes considerable efforts to minimize the risk of mortgage loan defaults, all loans have an inherent amount of risk. However, there is less risk of losing all of your investment with GLORIUS loans since your loans will be secured by real-estate property.

    Servicing options are chosen by the lender at time of closing. Generally there is a third party servicer who will determine the appropriate action to take in the event of a default. Possible courses of action may include extending the term of the mortgage loan or incentivizing the original borrower to relinquish ownership of the property. The third party servicer will also be equipped to handle foreclosure at reduced legal fees with potentially faster turn around times. In the event of a foreclosure, you may potentially lose some of your initial capital if the net capital returned from a foreclosure/liquidation process is less than the mortgage funded.

  • Is this similar to a CD (certificate of deposit)?

    No, this is not like a CD as the amount invested is not secured or guaranteed by the FDIC. It can, however, be compared in some way to a certificate of deposit simply in terms of its relatively short duration and the fact that it is secured.

  • How do your products differ from a REIT?

    REITs (real estate investment trusts) are investment vehicles that pool various real-estate assets, including properties and mortgage notes. REIT managers receive a management fee, in addition to a range of other performance-based fees and charges. REITs can be traded publicly or privately. Unlike these mortgage REITs, a GLORIUS mortgage amounts to a single project loan, rather than a pool of loans. You retain full visibility of the loan as well as due diligence concerning the property, market, and borrower.

  • How does GLORIUS underwrite the mortgages?

    GLORIUS does not underwrite mortgage loans. GLORIUS offers a state of the art automated rating system to help investors evaluate borrowers’ credentials. However, you the investor choose which investment, loan to value, and borrower you wish to offer financing to.

  • How is the interest rate calculated?

    GLORIUS does not offer the interest rate. As the investor, it is up to you to decide what level of return you want. A interest calculator is provided in the negotiation screen.

  • Is my investment secured?

    Yes, your investment is secured by the borrower’s real estate property through a first mortgage lien recorded in the county of the subject property.

  • What information is disclosed by GLORIUS?

    GLORIUS takes privacy seriously. Therefore, GLORIUS only discloses information that is already publicly available OR is necessary to facilitate your loan closing.

  • Why should I invest in real-estate mortgages?

    Real estate is an attractive asset for many reasons:

    1. Stability in the market
    2. Appreciation
    3. Tax benefits
    4. Passive income
    5. Inflation hedges
  • What is the difference between debt and equity investments?

    A typical real-estate transaction involves the buyer purchasing the property through a combination of equity and debt. An equity investment acquires an ownership stake in the property. Although there is a potential upside if the property appreciates and the cash flow is strong, the investment also contains a greater element of risk. A debt investment refers to the loan used for purchase. This investment ensures a fixed income derived from the interest on the mortgage and is secured by the property value.

  • What is peer-to-peer lending?

    Peer-to-peer lending is a direct exchange between a borrower and a lender. Lenders, also called investors, are matched with borrowers. The exchange of funds happens through the title company/attorney at the point of closing, but the investor lends his or her personal money to the borrower, and is able to see the borrower, his or her project, expected returns, etc., in advance in order to establish whether this borrower is the right fit in terms of the investor’s goals, portfolio, etc.

  • What happens after closing? How do I receive the monthly mortgage payments?

    Before closing, the lender will be required to either choose their own servicing options or GLORIUS can refer a thrid party servicing partner. A servicing company is generally used to collect and ensure payments as well as handle any loan modifications, loss mitigation options, or arranging foreclosure proceedings.

  • When do I send my money to fund the loan?

    With GLORIUS you hold your own funds until a deal is made and closing is approaching! Why let someone else earn your interest? Our GLORIUS customer service team will be there to assist you through the process once you and the borrower have come to agreement on the rate and terms. They will provide you the date to send the funds by and the wiring instructions to the title company or attorney who will be securing the funds until the closing is funded.

  • What are escrow payments and why would I collect them with the mortgage payment?

    An escrow payment is a common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and/or interest portion of a mortgage payment. Typically lenders collect these payments to ensure that the yearly taxes and insurances are paid. This will insure the borrower has property insurance coverage (in case of a loss, the lender can make a claim for the mortgage amount) and that the taxes are paid to avoid a tax lien on the property. When the loan is closed, your servicer will set up an escrow account to collect the property taxes and insurance in equal monthly payments over a 12 month period. The tax bill and renewal insurance are then paid from the escrow account and not the property owner. The account is reviewed annually and all overages are refunded back to the borrower, however any shortage will need to be collected. Once the loan is paid off, the escrow accounts are released and the home owner is then responsible to pay the taxes and insurance yearly.