Lender · Wildwood Crest, NJ · Member since 2017 · 317 posts · 56 votes
IMN Direct Capital LLC provides an array of products and services for real estate investors to successfully exceed their profit and investment return objectives. Real estate loans, real estate investor education, and services offerings are tailored for each real estate investment situation. The rehab loan product provides 100% financing for 1-4 non-owner occupied real estate properties.
Loan Amount: Up to $2,000,000 (larger amounts case by case)
Leverage: Up to 100% of purchase price and 100% of rehab
Interest: Starting at 9%
Points: 3-5 points
Term: 9 months
LTV: Up to 70% ARV
Recourse: Yes
Pre-Payment Penalty: None
Underwrite: Light Doc (No Tax Returns, No Bank Statements, No Cash Reserves Needed)
Hi Michael- this looks great. How quick is the approval decision? How much will I have to deposit, because this says zero down? How soon will it be funded, once approved?
We run every thing. I usually can get approval in a few hours.
Your financial obligation is about 1200.00 which included Appraisal, Credit, UW Dep and you are responsible for your first rehab then we reimburse the draw.
We close pretty fast. It depends on appraisal, title company and you.