100% Purchase Price Financing

No Credit Check

Get Prequalified Now – No Credit Report Pull Required

100% PURCHASE PRICE FINANCING

“For Fix & Flip Transactions”

 

NO CREDIT CHECK & NO APPRAISAL REQUIRED!

 

“Based On As-Is Value Only”

100% Purchase Price Only – General Funding Guidelines

Where We Lend For 100% Purchase Price Financing:

AL, AR, CO, CT, DE, FL, GA, IL, IN, KS, LA, MA, MD, MO, NC, OH, PA, NY, NJ, SC, TN, TX, VA, WI, WA

Other locations considered on a case by case basis.

100% Purchase Price Program Highlights

  • No Credit Check Required!
  • Must Have 1 Competed Flip In Last 24 Months (if fix and flip)!
  • No Appraisal Required!
  • Purchase Loan Amount NOT TO EXCEED 90% OF CURRENT VALUE!
  • 6 Month – 36 Month Term!!
  • $50,000.00  –  $250,000.00 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 RequiredClick Here

 

1.  Loan Amounts & Funding Parameters:

– Loan amounts are from $50,000.00 – $250,000.00+.

– Loan amounts of $150,000.00+ are considered and are reviewed and evaluated on a case by case basis.  Closing for larger loan amounts are based on availability of funding capacity.

– Loan program is for purchase transactions only.  No refinance and no renovation funding.

– Maximum purchase loan amount cannot exceed 90% of current As-Is Value.

– Borrower must document proof of funds to complete cost of renovation.

– No major rehab projects allowed.  No projects with structural/foundation issues.  Renovations should be general repairs and cosmetic upgrades.

– Down payments of 5% – 10% are allowed to reduce loan amount to meet loan program guidelines.

– No Pre-payment Penalty.

– All transactions are reviewed and approved on a case by case basis.

FOR PROJECTS THAT REQUIRE MAJOR RENOVATION –  See our Platinum Fix and Flip Funding Program – Click Here

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.

 

4.  Number Days To Close

“Approximately” 10-15 business days to close after receipt of all required documents and issuance of pre-approval notificationSETTING OF SPECIFIC CLOSING DATES ARE ALWAYS SUBJECT TO AVAILABILITY OF FUNDS.  

 

5.  Required Prior Completed Flip Experience 

One (1) competed residential flip is required within the last 24 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:  5.99% or $5,995.00 (whichever is greater)

– Attorney fee:  $650.00

– Processing fee:  $995.00

– 1st 2 months interest payments are prepaid at time of closing

 

7.  Recommendation To Use Lender Designated Title Company For Closing

Borrower is strongly encouraged to make purchase offers listing the lenders designated title company for closing.   This loan transaction uses private investor funds and does not require all the traditional documents and disclosures to complete the closing.  Closings can be conducted via mail out and by use of notary public with borrower’s wet ink signature.  Electronic signatures are not allowed.

8.  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

– Real Estate Experience Spreadsheet (template provided)