100% Financing For Rehab Flips

Acceptable Property Type: Single Family Homes, 2-4 Units Properties, Condos and Townhomes only. No Commercial, Condo Conversions, or Ground up Construction.
Lien Position: 1st Position Only.
Term: 6 Months.
Loan To Value: Up to 65% of the After Repaired Value.
Rehab Funds: 100% of Rehab Funds Required to complete the project.
Guarantee: PG required, but the deal may be funded in a business entity.
Rate: 13.99% to 16.99%
Minimum Loan Amount: 25K Maximum Loan Amount: 500K (Higher on a Case by Case.)
Collateral Documentation Checklist:
1.) Interior and Exterior Photos of the Subject Property.
2.) A Preliminary Title Report.
3.) A General Contractors Bid and Scope of work to be completed on the subject property.
Work must be completed on a draw schedule of 1-4 draws.
4.) A Broker Pricing Opinion showing the "As-Is" Value along with showing the After Repaired Value.
An "As-Is" and A.R.V. Appraisal may also be utilized in place of a BPO.
5.) The purchase contract.
Must be executed by both parties.
6.) A home inspection report.

Personal Documentation Checklist:
The following items are required to approve you personally for funding:
1.) A Credit Report less than 30 days old from the date of submission.
2.) Paystubs or proof of current income.
3.) 2 Years of tax returns.
4.) 3 months of bank statements.
5.) Current asset statements.
6.) Your Real Estate Resume.
7.) A State ID or Driver's License.
8.) A social security card or birth certificate.

Q & A:
Q: #1 - Can the Interest Reserves be funded in the Loan?
A: No. You must have the ability to service the debt, or the property must be generating income that may service the debt.
Q: #2- Will your investors fund 100% of the rehab required for a subject property?
A: Yes. As long as the acquisition and rehab do not exceed the program guidelines of 60% - 65% of the A.R.V.
Q: #3 What does A.R.V. mean?
A: A.R.V. stands for After Repaired Value of the subject property. It is the method that we utilize to determine the value of a subject property.
Q: #4 Will your investors fund back taxes and/or homeowners association fees?
A: No. These must be paid out of your pocket.

Q: #5 - How quickly can you fund a loan?
A: With-in 2 business weeks to 4 business weeks depending on the amount of business that we currently have.
Q: #6 - Are there any upfront fees?
A: No. We do not charge any upfront fees until we have processed and placed your loan with one of our investors. In order for us to deliver terms, we do require that you pay for our processing and pre-underwriting services. These may not be funded at the time of closing. Typically we charge anywhere from $995 to $1595. Upon receipt of the processing and underwriting fees, we will then deliver terms. If we cannot accept your file, there are no fees that are due.
Q: #7 - What states do you lend in?
A: Currently we lend in the following states:
Florida
California
Texas
Oklahoma

Q: #8 - Can I get Pre-Approved before I have picked a property and receive Proof of Funds?

A: Yes. We can pre-approve you as a borrower, along with issue proof of funds letters!

Q: #9 - Can I choose any home inspector to complete the home inspection?

A: No. You must choose a home inspector that is licensed and certified in the state the subject property is located in.

Q: #10 - What is the minimum credit score that I must have in order to receive funding from your investors?

A: A 640 Mid Score is required, but that will reduce the Loan To Value that our investors will fund to 50% - 55% A.R.V.

Q: #11 - Will you fund a deal that is in an area that has a lot of foreclosure inventory?

A: Possibly. It really depends on the collateral and the look of area. If it is in the middle of all board ups, then most likely we will not fund the deal.

Q: #12 - Do you require an Appraisal?

A: No. You must have a Real Estate Broker provide you with a current As-Is Value, along with supporting comparative sales, and a After Repaired Value with the supporting comparative sales. If a Broker will not complete this for you, then you will be required to get a full appraisal of the subject property.

Q: #13 - If the preliminary title shows liens against the subject property that will not be paid by the Seller, will I have to pay those off, or will the investors?

A: You would have to pay any liens by utility companies or others that are not paid off by the seller with the purchase of the property. Our investors will not fund those.

Q: #14 - Do I have to hold title personally, or can you fund in a business entities name?

A: You must personally guarantee the subject property, but you may fund the property with in the business entities name.

Q: #15 - What further charges are there in funding the deal?

A: 5% Origination Fees - Minimum of $2,500.00, no matter the loan size.
Investors Processing & Underwriting
Title Charges
Misc. Charges