I was sent an e-mail from my lender and they want me to fill out the
Pre-Qualification form on each borrower that is looking to get funding
thru them on their Rehab and Purchase funding,so if you are still
interested in starting out on getting your own initial funding,then let
me know,i will need your contact number also.
Here are a few points to remember:
*My lender lends in 30+ states and is expanding nationwide.
*Our rehab loans are on residential,non-owner occupied investment properties
*Minimum FICO of 640 is needed to qualify
*Borrowers should have comfortable cash reserves
*The lender loans up to 70% of the After-Repair Value
*They loan from $25,000 to $1Million
*Lien position:First Mortgage only
*Line Term:Up to 24 months renewable thereafter with limited credit review.
*Loan Term:6 months,extend able for up to 13 months.
*No payment for 6 Months
*Guarantee:Personal guarantee required;close in name of business
entity.
*100%
of renovation funds are typically advanced in 1 to 4 draws.Once
inspector certifies work is done,funds are wired within 24 hours
directly to the investor's account.
I will need to have
you provide me information for the Pre-Qualification form that my
lender requires,it is just a brief bit of information that they require
that i get directly from the Borrower.
Thank you,
Don C
E-Mail:JazzTouch42@yahoo.com
