Transactional lenders

6 Replies

Does anyone have any experience using a Transactional lender for a double close? If so I have a few questions: 

1. What were the fee's like ? 

2. How much funding did you receive? 

3. Is there anything that isn't commonly discussed that someone using transactional funding should know?

Hello Lakeem.  This is Duane Ortega, and I am a transactional funder.

See >>> below

Does anyone have any experience using a Transactional lender for a double close? If so I have a few questions:

1. What were the fee's like ?

>>> Generally 1.75%-3% + processing fee of $395-$595

2. How much funding did you receive?

>>> There is no minimum funding amount with most lenders.  Maximum is usually in the millions.

3. Is there anything that isn't commonly discussed that someone using transactional funding should know?

>>> Google me, find my website, review FAQs or call and email me.

@Octavian Cross

The $395 processing fee is charged up front.  Feel free to lookup my profile, find my website's contact info, email or call us for any other questions.

Looking forward to doing business with you,

Duane.

@Octavian Cross

Forgot to mention that if your transaction doesn't close, we give you a one time credit for the processing fee up to six months since it was paid for your next transaction.  Lastly, if you take advantage of our VOD (verification of deposit) for $495, the processing fee is waived for that specific property.

I charge 1.75% up to $1MM plus a $495 closing/doc fee, but the fee is not paid upfront and is only deducted from the second closing.  I do not charge applications fees, but may require an appraisal if it is an extended transactional funding (not a same-day or back-to-back closing).