HOW IT WORKS

BORROWER CRITERIA

  • No Minimum Value​

  • No Maximum Value

  • Residential

    • Single Family 2-4 Unit​

  • Townhomes OK

    • No Condos​

    • No Manufactured

  • No Owner Occupied's

  • Commercial

    • Case-by-case basis​

PROPERTY CRITERIA

  • No Minimum Credit

  • No Minimum Liquid Assets

  • No Minimum Income

  • Recent Bankruptcy OK

  • Must Provide:

    • Most recent pay stub​

    • Last 2 years' tax returns

    • Completed Loan App

  • LLC's / Corps / Individuals

Watch the "Loan Fees Explained"
video below

LOAN TERMS

  • Rehab Loan Terms

  • No Minimum Loan Amount

  • No Maximum Loan Amount

  • No Max / Min Repair Cost

  • 1st Position Lien Only

  • Up to 80% Loan to ARV

    • After Repaired Value​

  • 0% - 20% Refundable Deposit

    • Based on ARV​

    • Deposit decreases the more loans you've done with us

    • Most 1st-time borrowers put 10% down (refundable)

  • 6 Month Term

    • Up to 3 Month Extensions

  • Construction Funds​​​ =

    • Loan Amount, minus purchase price, minus our charges, minus​ other closing costs (realtor, taxes, gov. fees, title fees)

WHAT IT COSTS

YOU PAY TO OTHERS

  • Appraisal

    • $600 +/-

    • Paid at closing​ or at the time of loan denial if the sale falls through.

    • We will request and save your checking account number on file before ordering the appraisal and will only charge your card if the sale falls through.

  • Hazard Insurance

    • Amounts vary​

    • Paid at closing

  • Title Charges

    • $900 +/-

    • Includes Mortagee's Policy

    • Paid at closing

  • Tax Prorations​

    • Amounts vary

    • Paid at closing

  • Recording / Transfer Fees

    • $150 +/-​

    • Paid at closing

  • Realtor's Commission

    • Amounts vary​

    • Paid at closing

  • Purchase Price

    • Amounts vary​

    • Paid at closing

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Firm numbers will be provided to you in writing prior to closing.

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All of the above costs are paid at closing out of the loan proceeds, no out-of-pocket charges to you.

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You're welcome to shop prices and choose your own vendors for all of the above, except for the appraisal.

FREE SERVICES

  • FREE Application

  • FREE Credit Check

  • FREE Document Prep

  • FREE Draws

  • FREE Inspections

  • FREE Loan Early-Payment

  • FREE Interest on Un-Used $

  • FREE Daily Service

PROFIT CALCULATOR
YOU PAY TO US

  • Transaction Fee

    • 2% of Loan Amount​

    • $3,200 Minimum

    • Paid at closing out of loan

  • Notary & Wire Fee

    • $27 Flat Fee​

    • Paid at closing out of loan

  • 12% Interest

    • No monthly payments​

    • No interest on unfunded balance

    • Paid at closing of sale​​

  • Extension Fee*

    • *Usually not necessary​

    • All accrued interest at the time of extension must be paid by check

    • $16.16 fee per day or a proration of the transaction fee charged daily, calculated as 1/182.5 or .00547 times the transaction fee.

    • 3 month maximum

    • Fee paid at closing of sale

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No hidden fees, junk fees, doc prep fees or service fees.

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You will be provided with a written statement of all costs prior to closing.

WHAT OUR CLIENTS ARE SAYING