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 firstname.lastname@example.org