In House and Fast, No Doc Investor Loans

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, max $100,000 (exceptions considered but not guaranteed)
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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