WE BUY
NOTES

RESIDENTIAL INVESTMENT LOAN PROGRAM *

PROPERTY TYPES:
Residential 1 to 4 units, including single-family homes, condominiums and townhomes

INVESTOR PROFILE:
Profile is determined and ranked in the following order: character, employment/business experience, type of projects, cash/credit contingency reserves, and credit review (FICO score has low priority).

FUNDING AMOUNT:
Minimum $50,000

Maximum based on investor profile

Funding to Value (FTV) 70-75% based on investor profile

FUNDING PERCENT:
Up to 100% of purchase price, construction/rehab cost, closing costs and insurance. Total of these items can be up to 70% of the “After Repaired Value” (ARV) of the property.

(75% considered on a case-by-case basis with existing clients).

*Call for up to date interest rates, points, ect, …

FUNDING TERM:
Standard term is 6 to 12 months

INTEREST RATE:
Minimum 12% – interest only with no monthly payments.

FUNDING FEE:
Minimum funding fee of 4 points (or 4%). Funding fees are added to the funding total. The funding fee is included in the 65-70% FMV lending cap and are paid when you sell or refinance property.

CONSTRUCTION DRAWS:
There are typically three draws on a single-family project. The quantity of draws is based on the complexity of the project. Funds are available 24 hours after inspection and can be wired directly to your account.

QUICK CLOSING:
Typical time is 14 days after receipt of Funding Request.

Shortened time is available to current clients when required.

TITLE:
Title held in land trust

APPLICATION APPROVAL:
Typical approval process is 3 days after receipt of your application with the required documents. After your application is approved, you only need to submit a funding request for each transaction.