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Investor SILVER Program

GET PREQUALIFIED NOW

 SILVER Funding Program

90% Financing Of Purchase And Rehab Cost Combined!

$75,000 Minimum Loan Amount  –  No Maximum Loan Amount!  

600+ Credit Score!

The Perfect Program For Active Real Estate Investors!

**550+ Credit Score To $1,000,000 – Click Here For GOLD Funding Program!**

Overview

SILVER Funding Program Highlights:

600+ Minimum Credit Score Required 

– Only 10% Down Payment Required!

– Minimum $15,000.00 In Liquid Checking/Savings Account Required For Funding Approval! 

– 90% Financing Of The Purchase Price And Rehab Budget Combined – Not To Exceed 70% Of After Repair Value!

– Minimum Loan Amount Of $75,000.00!

– No Maximum Loan Amount!

– Close In 10-12 Business Days From Receipt Of All Required Documents!

– Foreign Nationals OK!

– First Time Investors OK!

SILVER FUNDING PROGRAM  

SILVER Funding Program Available NATIONWIDE except:

Arizona, California, Hawaii, Idaho, Maine, Montana, Nevada, North Dakota, South Dakota, Utah and Vermont  

Silver Program – All investor loan transactions must close in the name of  a business entity!  

 

GOLD Funding Program Available In Following States:   Click Here View Gold Program

Colorado, Connecticut, Florida*, Georgia**, Illinois, Maryland, Michigan, Missouri, Ohio*, Pennsylvania, South Carolina, Tennessee, Texas**, Virginia*, Washington, West Virginia.

*You must close in the name of  a business entity in the following states:  Florida, Ohio and Virginia.

** Stated LTV’s are reduced by 5% in the state of Georgia and also in the metro-Houston, Texas market.

 

 

SILVER PROGRAM –  FUNDING GUIDELINES

Credit Score Requirement

MINIMUM 600+ CREDIT SCORE REQUIRED

**550+ Credit Score To $1,000,000 – See Gold Funding Program Click Here**  

 

Prior Completed Fix and Flip Transactions Last 24 Months

0-1 flip*           12% interest rate         90% LTC          70% ARV

2-4 flips           11% interest rate         90% LTC          70% ARV

5+ flips           9.99% interest rate       90% LTC          70% ARV

*0-1 flip with less than 680+ credit = 85% LTC and 65% ARV)

 

Required Documentation    See bottom of this page for list of required documents

 

Qualifying Types Of Properties

Single Family residences and 2-4 units.  Non owner-occupied only.  No primary residence or vacation homes.  No condo’s.

 

PURCHASE AND REHAB FUNDING PROGRAM

We can fund up to 90% of the combined purchase price and rehab budget in one loan not to exceed 70% of the After Repair Value (ARV).

Funding Scenario Example:

Purchase price         $150,000.00

Rehab budget           $  60,000.00

Total project cost:    $210.000.00

                                        X   90%  Loan To Cost (LTC)

Loan Amount:        $189,000.00

Down Payment:     $  21,000.00  (total project cost minus loan amount)

Plus lender fees and closing cost

Borrower is responsible for down payment of total project cost, plus lenders fees and closing cost.

IMPORTANT NOTES:  

Foreign nationals require minimum 20% to 30% down payment

 

All Transactions Must Close In A Business Entity Name

Funding can only be approved in a business entity name.  There is no seasoning requirement on the age of the business entity.  Entities include:  LLC, LLP, S-Corp, C-Corp.

Proof Of Financing Letter

After completing a pre-qualification application we can also promptly provide you with a proof of financing letter(s) to assist you in making offers on prospective investment properties.  To obtain a proof of financing letter you must provide a copy of your most recent bank statement reflecting a balance of the minimum required funds to close.

Proof Of Funds To Close 

Minimum $15,000.00 In Liquid Checking/Savings Account Required For Funding Approval! 

You must clearly document that you have the funds to close, which includes; down-payment, lender fees and closing cost.  Loan files are not submitted for underwriting approval without proof of funds to close.

Days To Close

On average we can close in about 10-12 business days from the time we receive ALL REQUIRED DOCUMENTATION.  Delays in closing are normally due to appraisal/property value, title issues, etc.

Minimum And Maximum Loan Amounts

Minimum loan amount is $75,000.00.  There is NO MAXIMUM loan amount.

Full Property Appraisal Required 

A traditional full property appraisal is ALWAYS required to underwrite and close a investor loan for this product.  We will order an expedited appraisal at time of submission of loan file for underwriting approval.  Cost of appraisals range from $375.00 – $575.00.

No Verification Of Income Required

No verification or documentation of personal or business income is required. Borrower will have to produce copy of of last years personal tax return to document that income taxes are being paid.  Income is NOT used as bases for qualifying.

Verification Of 6 Months Reserves Required

All loan transactions require that you verify six (6) months of interest payments (Reserves) via your bank statements.

Terms of Loan Funding

Property Type

Single family residences and 2-4 residential units.  No condo’s.

Transaction Type

Purchase and rehab transactions only.

Interest Rates

Interest rates range on average from 9.99% to 12% depending on credit score and number of prior completed real estate investment transaction.

Origination Fees

0-1 flip last 24 months               3.99% origination fee

2-4 flips last 24 months             3.99% origination fee

5+ flips last 24 months              2.99% origination fee

Minimum dollar amount of loan origination fee is $4,500.00

Other Lenders Fees

None

Seller Concessions / Seller Paid Closing Cost

Seller may contribute up to 3% of the agreed purchase price towards buyer closing cost expenses or concessions in the contract to purchase.

Subordinate Financing

Subordinate financing is NOT allowed, which includes 2nd mortgages and seller held financing.

Maximum Loan Amount

There is no maximum loan amount

Loan Term

13 months

Rate Type

Fixed monthly payment, interest only.

Prepayment Penalty

None.

REQUIRED DOCUMENTATION

Business Entity Borrower (Must close in the name of a business entity)

__ Copy of valid identification (all members of business entity)

__ Purchase and sales agreement

__ Last 2 month’s business bank statements (must include all pages)

__ Articles Of Organization for LLC Or Articles Of Incorporation for a Corporation

__ Operating Agreement or Corporate Charter/Bylaws

__ Certificate Of Good Standing (Issued By Secretary Of State within 30 days)

__ Copy of last years personal tax return for all members of business entity. This documentation is NOT to verify income but to validate that federal income taxes are being paid and reduces likelihood of unpaid tax liens being filed on subject property.

__ Scope Of Repair Work (Template Provided)

Note:   Terms are subject to change. Final terms vary depending on the property and borrowing entity

Get Started Now – Free Pre-qualification – 550+ Credit OK!

Low Rates – Flexible Terms – Close in 10 days Or less!