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Business representative

Knowing What's Ahead Simplifies The Process

Criteria of General Guidelines Under Our Terms of Service

BORROWER TYPE – Associated With A Business Entity With Tax ID Number

                                   (can't be private individual borrower)

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PROPERTY TYPE – Non-Owner Occupied SFR (1-4 Units)


LOAN PURPOSE – Investment Purpose: Acquisition, Cash-Out, Refinance, Rehab


LOAN AMOUNT – $30,000 to FHA CAP


SHORT TERM – (6 - 24 Months) for Fix and Flip. Fix and Hold, Refinancing Cash-Out 

                             Interest only         

           

​LONG TERM – (Amortized 30 yr with 5 yr balloon for Turn-Key Rental Property (no rehab needed)

                             Principle + Interest                    

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INTEREST RATE – 8% - 15% (contingent of risk assessment of both the borrower and the deal)


ORIGINATION POINTS – 0 to 5 (contingent of risk assessment of both the borrower and the deal)

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BROKER FEE POINTS – 0 to 3 (points for brokering the loan, separate from the origination points)


LOAN PARAMETERS – 90% Purchase; 100% Rehab not to Exceed 65% LTV;  Cash-out Refi 50% LTV


APPRAISER LEVEL – General Appraiser

 

MINIMUM CREDIT SCORE – N/A (no restrictions)

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PREPAYMENT PENALTIES  – N/A (no restrictions)


EXCLUDED STATES – MN, NV, SD, UT, VT

What You May Need To Get The Ball Rolling Once We Both Decide To Partner Up

NEEDS LIST - Some items may not be needed or applicable for your situation

APPLICATION DOCUMENTS
• Pre-Loan Application ($197.00 fee)
• Schedule of Real Estate Owned
• Schedule of Real Estate Sold
• Zero Tolerance Fraud Policy
• Broker Fee Agreement (if applicable)
 

ENTITY DOCUMENTS
• Articles of Organization/Incorporation
• IRS EIN Letter
• Operating Agreement or Bylaws
 

GUARANTORS ON THE LOAN
• ALL Guarantor(s) – ID
• ALL Guarantor(s) – Social Security Card or ITIN letter (Signed)
• Most Recent 1040 Personal Tax Returns – Page 1 & 2 (Signed)
 

CONTRACTS
• Purchase & Sales Agreement
• Earnest Money Deposit (if applicable)
 

BANK INFORMATION
• Bank Statements – 2 Full Months, All Pages
• Investment/Retirement Statements (if applicable) – 2 Full Months, All Pages
• ACH Form and Voided Check
 

INSURANCE INFORMATION
• Hazard Insurance Binder for Subject Property
• Flood Insurance Binder for Subject Property (if applicable)
 

TITLE INFORMATION - (Provide contact information and we will order this for you!)
• Preliminary Title Report
• Property Survey (if applicable)
 

REHAB INFORMATION
• Contractor Bid, License and Insurance (if applicable)
• Draw Schedule

Sorry But We Have Some Disqualifiers

No Owner Occupied Properties (present or future planned)

No Bad Deals (the numbers have to make sense for good investing)

No Private Money Lending for The States of: MN, NV, SD, UT, VT

Not To Go Above FHA Maximum That Is Listed In The Property Area

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