Tuesday, October 18, 2011

California Purchas/Rehab Loans - 100% Financing

TRTY          CA, FL Only                       
AMNT         $50k - $5M
LTV            100% LTC of 70% ARV
INT             14%
PTS            4 - 5
TRM           12 months
PPP           None

No Credit Reports or Verification of Income
Points & Closing Costs Can Be Rolled Into Loan
Experienced Investors Only
Need Appraisal

This product currently allows up to 100% of the acquisition & rehab costs to be included in the loan as long as the total LTV is less than 70% of the completed projects value!
Quick closing! (15-20 business days from complete submission)

100% of costs rolled into the loan!
Fee's rolled into the loan!
Closing costs and points paid at time of closing
Increase your liquidity by leveraging your experience to borrow the capital!
No Credit Check or Income Verification!

SUBMISSION REQUIREMENTS:

Completed Application 
Signed borrower's authorization 
Executive Summary (include written exit strategy)
Proof of History of Flipping or Investing
Schedule of Real Estate Owned
Signed Purchase Agreement
Estimate/Repair Bid
Preliminary Title Report
3 months current bank statements
Copy of state issue ID/Passport
Appraisal of subject property (to be ordered by Lender)

* If closing in a LLC, Corporation, or other entity please provide the following:

Articles of Incorporation/Formation
Operating Agreement
Corporate Bylaws (if applicable)
Certificate of Good Standing (must be less than 60 days old)
Corporate Resolution naming signers
Copy of sate issue ID/Passport of all principals with 25% > ownership

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