Month: July 2018

by Tim Herriage Tim Herriage No Comments

Quick Close Loan in AZ, CO, TX, TN, and NC

Real Estate Investment Financing Program Overview

This quick close loan product is only available in Arizona, Colorado, North Carolina, Tennessee, and Texas.  We generally limit it to non-rural areas with a population of at least 20,000 people within the county where the property is located.  The interest rate on these loans is 12%.  The origination is as follows:

  • Arizona: $1,500
  • Colorado: 2%
  • North Carolina: 2%
  • Tennessee: 3%
  • Texas: 2%

Loan Type:  Fix & Flip, Buy & Hold, Rehab, Cash Out, Refinance, Construction, Transactional Funding, and Bridge Financing

Property Type:  Single Family Residential and Multi-Family (non-owner occupied); limited commercial

Loan Size:  $50,000 to $2,500,000

Loan-to-Value (LTV):  Up to 70% of after-repair value (ARV)

Loan-to-Cost (LTC):  Up to 90% of purchase price (rehab financing up to 100% available subject to borrower qualification)

Loan Term:  6 months with option to extend

Lien Position:  First position

Borrower Qualification:  No income requirements. No credit check. No minimum FICO scores.

Borrower Type:  Business / Entity

Prepayment:  No prepayment penalty

Closing Speed:  24 – 48 hours. Minimal paperwork*

Other:

  • Appraisal not required*
  • Credit score not required*
  • No “junk” fees*

REAL ESTATE FINANCING IS STRICTLY FOR BUSINESS AND/OR INVESTMENT PURPOSES ONLY (I.E. NON-CONSUMER)

*majority of loans

Jennifer, Lisa, and Patricia are our amazing representatives for our loan products.  You can fill out the form below, email loans@2020rei.com,  or call 972-737-1850 today to speak to them.

FILL OUT THIS FORM TO GET STARTED

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