KIMBERLY JONES
  • Kenner, LA
  • United States
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In House and Fast, No Doc Investor Loans

Started this discussion. Last reply by ERICMONRISON Jan 30, 2014. 4 Replies

In House and Fast, No Doc Investor LoansQualifying is easy!No credit checkNo income verificationNo personal/financial asset verificationNo title policy required (only a title search!)Appraisal…Continue

Tags: hardmoney, privatemoney, nodoc, direct, funding

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Company name and description
Lending Residential Hard Money with no credit check, no income questions and no upfront fees (other than appraisal) in the following states: AL, AK, AZ, AK, CA, CT, DC, DE, FL, GA, IL, IN, KY, LA, MD, MI, MS, MO, MT, NH,NJ, NY, ND, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WY.

In House and Fast, No Doc Investor Loans

Qualifying is easy!

  • No credit check
  • No income verification
  • No personal/financial asset verification
  • No title policy required (only a title search!)
  • Appraisal required and property must appraise for at least the sales price of the home            (physically distressed homes OK but no burnouts)
  • Title must be clear of all liens and encumbrances at time of closing
  • Close in one week
  • 5 year fully amortizing loan
  • Just 35% down payment required, we lend 65% of the contract price

Eligible Properties and Borrowers

  • Borrowers can be US residents, foreign nationals, corporations, partnerships or LLCs (proof of good standing required)
  • Loans made to investors only (no owner occupied)
  • Purchase money loans only (no refinances)
  • Properties must be single family residences (1-4 units)
  • No manufactured, condos, log homes or  vacant land
  • Minimum loan amount $20,000, maximum $100,000
  • Limit 5 loans per borrower at any one time (exceptions considered but not guaranteed)

Taxes & Insurance

  • Property taxes must be paid current through closing date
  • Property taxes will be escrowed and included in customer’s monthly payment
  • Property insurance.  Customer can provide insurance or purchase insurance waiver.  Cost for property insurance will be escrowed and included in customer’s month payment

How do I get a loan?

  • Complete short application
  • Send purchase contract
  • Send  $420 for appraisal and $155 for title search if ordering title through us.
  • We review and approve title and appraisal
  • We prepare loan docs for borrower’s signature
  • Borrower signs loan docs and we fund the purchase loan, transaction complete!

Rate is 18% amortized. Term up to 5 years.  Paid in full at the end of 5.  No pre-payment penalties.  $1495 loan setup fee and 3 points are rolled into the loan. Brokers protected.

(My personal note) 18% may seem high but you would spend a lot more if you went  6% for 30 years. You also wont find 6% with no credit and no income. The only thing we care about is the actual value of the property, nothing else.

Available States:  AL, AK, AZ, AK, CA, CT, DE, FL, GA, IL, IN, KY, LA, MD, MI, MS, MO, MT, NH,NJ, NY, ND, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WY.

States we CANNOT do: CO, HI, ID, IA, KS, ME, MA, MN, NE, NV, NC, SC, SD, WI, AR.

Kimberly Jones   nolainvestments@gmail.com 

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