

"Wow! In just five minutes I learned more about real estate market success than in 3 years. Their investor financing programs are top notch, and their willingness to share is invaluable."
Stacie Angelie 🌟🌟🌟🌟🌟
States Currently Funding
-
Funding is available nationwide, except in the following states: Nevada, Oregon, Minnesota, North Dakota, South Dakota and Vermont.
-
Minimum As-Is value may be required in certain market areas.
Qualifying Property Criteria
-
Non-owner occupied, single family and 2-4 units. Including condo’s and townhomes.
-
Property must be a minimum of 750 sq ft. No exceptions.
-
Up to maximum of 10 acres allowed.
-
In determining current As-Is value, investor must place weight on the overall material condition of the property compared to other similar properties. A property in a C5-C6 condition will see the current value of property significantly adjusted downward.
Platinum Fix & Flip
Funding Guidelines
Qualifying Credit Criteria
-
Must close in the name of a business entity. Cannot close in individual personal name.
-
No bankruptcies, foreclosures charge-offs judgments within past two (2) years
-
Minimum of two credit scores available from the three credit bureaus.
-
If 2 credit scores are reported, the representative score is the lower score.
-
If 3 credit bureau scores are reported, the representative score is the numerical middle credit score.
-
All mortgage payments reporting on credit report must be current prior to closing.
Qualifying Experience Criteria
Qualifying experience is based on the documented number of completed flips AND/OR number of rental properties currently owned.
-
Completed flips are defined as: residential investment property (1-4 units) that has been sold within the last 36 months.
-
Rental properties are defined as: residential investment property (1-4 units) currently owned (regardless of date of purchase).
Qualifying properties for experience are as below and pertain to any members of the business entity with 10% or more ownership:
-
Total number of current rentals
-
Properties sold in last 36 months
Basic Loan Terms
-
12 month term.
-
Monthly interest only payment.
-
No prepayment penalty.
-
No escrow of taxes and insurance
-
Pay no monthly interest carry cost on the unused balance of renovation budget
Property Appraisal
A property appraisal is required for all bridge loan funding transactions. The cost of the appraisal is required to be paid upfront prior to ordering the appraisal. The cost of appraisal typically ranges from $400.00 – $1,200.00 depending on the local real estate market.
REQUIRED DOCUMENTATION FOR UNDERWRITING APPROVAL
-
Clear and legible copy of government issued ID
-
Copy of executed purchase and sales agreement (if applicable)
-
Copy of most recent two (2) months of personal OR business bank statements (all pages)
-
Copy of IRS EIN letter for business entity
-
Copy of Articles Of Organization for LLC or Incorporation for a Corporation
-
Copy Of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation
-
Real Estate Experience Spreadsheet (template provided by email)
-
Renovation Construction Budget Spreadsheet (template provided by email)
-
Executed electronic authorization to run credit report and background check (provided by email after receipt of all required docs)