100% Purchase Price Only – General Funding Guidelines
Where We Lend For 100% Purchase Price Financing:
CT, DE, FL, GA, OH, MA, MD, NC, PA, NY, NJ, SC, VA,
Other locations on case by case basis.
100% Purchase Price Program Highlights
- No Credit Check Required!
- Must Have 1 Competed Flip In Last 12 Months!
- Approximately 7-10 Business Days To Close!
- Interest Only Monthly Payment!
- 6 Month – 36 Month Term!!
- $50,000.00 – $350,000.00 Loan Amounts!
- Single Family, 2-4 Units and Town-home Properties!
- Must Close In Name Of Business Entity!
- No Prepayment Penalty!
- Prior Flip Experience Of Any Member Of Business Entity OK!
24-48 Hour Pre-qualification With No Credit Pull Required – Click Here
1. Loan Amounts:
Loan amounts are from $50,000.00 – $350,000.00.
2. Interest Rate Range:
Interest rate based on number of months loan remains open per schedule below.
- Months 01 to 06 – 12% no prepay
- Months 07 to 12 – 14% no prepay
- Months 13 to 18 – 16% no prepay
- Months 19 to 24 – 18% no prepay
- Months 25 to 30 – 20% no prepay
- Months 31 to 36 – 22% no prepay
3. Property Types / Minimum Value
– Minimum As-Is property value is $50,000.00.
– Single Family, 2-4 units and town-homes. No Condo’s.
– Rental Ready Properties Qualify With A Clear Exit Strategy Within 6 Months Of Acquisition
4. Number Days To Close
Approximately 7-10 business days to close after receipt of all required documents. Subject to title work being completed.
5. Required Prior Completed Flip Experience
One (1) competed residential flip is required within the last 12 months. Any member of the business entity can meet the prior flip experience
Must provide copy of the HUD Settlement Statement from the purchase/acquisition and the sale or refinance.
6. Lender Related Fees
Loan origination fee: 4.99% or $4,995.00 (whichever is greater)
Attorney fee: $1,095.00
Processing fee: $795.00
7. Required Documents For Underwriting Approval
– Clear and legible copy of government issued ID (all members of business entity)
– Copy of fully executed purchase contract
– Copy of HUD Settlement Statement from acquisition and sale of complete flip
– Most recent months bank statements (all pages) showing cash to close
– Copy Of IRS EIN Letter for business entity
– Copy of Articles of Organization for LLC or Incorporation for a Corporation (if applicable)
– Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation
– Copy of two (2) current utility bills reflecting primary residence address for all members of the business entity
– Written statement clearly describing exit strategy