Updated almost 9 years ago on .
Real Estate & Lending Partner (REMOTE)
Here at Oracle Loans we believe in providing unique lending solutions to help both you and your clients prosper. With that said, we're excited to announce new brokers/partners are now eligible to enroll with us and start offering clients our diverse Line of Credit options. Whether you're an established lending organization, small brokerage, an individual Loan Officer, or other industry professional; we know this program can help you and your clients achieve financial success. Additionally, no licensing is required to become an Approved Partner.
Real Estate Investor Lines of Credit
Startup Business Lines of Credit
Unsecured Small Business Lines of Credit
The programs offer unlimited use of funds (and many other perks) which has proven to be a deal-saver due to great flexibility. Most commonly, the Line of Credit can be used for:
REAL ESTATE TRANSACTIONS
- Down Payment
- Fix & Flip
- Property Acquisition
- Settlement Costs
- Renovation / Rehab / Repairs
- Paying down a current mortgage to get within a certain LTV or CLTV range.
- and just about EVERY other real estate scenario you can think of!
HOW TO BECOME AN APPROVED PARTNER:
Enroll Online, www.OracleLoans.com/partners
By phone, 844-748-5341
By email, [email protected]
LENDING GUIDELINES
Lending Territory: NATIONWIDE, all 50 states
Lines of Credit: $10,000 - $250,000
Interest: 0% first 6-12 months, 6.99%+ thereafter
Payment: Monthly
Income Verification: NONE
Financial Documentation: NONE
Collateral Requirement: NONE
Net Worth Requirement: NONE
First-Time Buyer: Allowed
Credit Reporting: Line of Credit DOES NOT report to the personal credit bureaus. It will not affect DTI or hinder the clients ability to qualify for future personal financing such as a mortgage, auto loan/lease, student loans, etc.
Co-Signers: Allowed
FICO: 700+ (no co-signer needed), < 700 (co-signer required)
Approval Time: 1 Business Day
IMPORTANT NOTES:
- must own an "Active" business for at least 1 business day. In the event the client does not own a corporation or LLC then they will need to file one with their state since this is technically a Business Line of Credit.
- must be a US Citizen
- ability to obtain a line of credit increase every 6 months.
- No upfront fees.
- Broker Compensation: 2.5% of the funded amount