Transactional Funding – 100% loan
- You find the deal
- You find the buyer
- Buyer wires their money into title company
- We wire the purchase money into title company
- You keep all the profit except title fees, 2% of the loan amount and $495 processing
203K Rehab loan – 3% Down Payment that can be a gift making this 100% Financing.
If you want to get in the flipping game and just don’t have the 25% down for your first flip this this might be a really good option for you to start with.
This is an FHA loan, which requires full documentation with paystubs, W2’s, taxes, verification of employment and a debt to income ratio below 42%. The great news is this loan only requires 3% down, which can even be a gift from a family member, but you must live in the home as your primary residence once the rehab is complete. There are no set time limit on for how long you must live in the home before you sell it.
Two Different Types Of 203(k) Loans:
The Standard 203(k)
Full gut job with rehab over 35K. You can do structural changes such as room additions, exterior grading and landscaping. Home can be converted into a two, three or four-unit dwelling or vice versa so long as the owner occupies one of the units. This version requires the use of a consultant, architect, and engineer and draw inspections.
The Streamlined 203(k)
The 203(k) Streamlined Loan is designed primarily for cosmetic upgrades that will not exceed a total of $35K in renovation and related expenses. The Steamlined 203(k) is a popular option when a typical FHA loan is considered since upgraded flooring, paint, kitchen and appliances seem to be the easiest way to quickly turn a house into a home.
1st time flipper: 75% to 80% or the purchase price and up to 100% of the rehab amount.
- If you plan on 20% of the buy price & rehab amount, plus closing cost as your down payment then you will be in good shape. (Analyze your deal for an estimate) Click here
- Interest rate are as low as 10%, as high as 1% per month or 12% per year
- Lender points are between 2- 4% depending on loan amount. (Lender shares fees with us)
- Our processing fee is $500
- We can close loans in a week or less if needed. Once we have your documents we can package your file and have it submitted within 24 hours to the lender.
- We will give you a pre-approval and a proof of funds letter as needed.
- We can offer the same terms for our Canadian investors.
Experienced Flipper: 90% of buy price and 90% of rehab. (Amazing Product!)
- Interest rate is as low as 7.99%, depending on experience. As high as 9.9%
- Lender points are 2% of line usage
- Lender will give you a pre-approval of 5 times the amount of cash you can show in your accounts. So if you have $100K then you get a $500K line that they will lend you at 90% of your buy price and rehab.
- 1st loan take 2-3 weeks for the approval, all the rest of the loans take 1-2 weeks to close.
-You paid cash for a home
-You like to get your money back out of the home
-You like the lender to also pay for your rehab
- If this is your first deal the lender will give you 70-80% of your purchase price and your rehab
- If you are experienced the lender will give 80-90% of your purchase price and your rehab
20% to 30% Down Payment
- Rate: 6% to 8%
- 25 year loan with 25 year amortization with no prepayment penalty
- Unlimited number of properties. *(Location is limited to city limits – non coastal or rural loans available)
- Loans as low as $45,000
- Loan amount is based on appraised value
- Lender fee is 2% or $2,000
- Can take 30 to 45 days to complete
- *Cash Out Refinance available up to 50% of appraised value.
Small Balance Commercial Buildings $100,000 to $5M
USA Private Money can help you on a variety of commercial properties including:
NO INCOME DOC LOANS, BAD CREDIT OK,
INVESTMENT MULTI-UNITS AND COMMERCIAL
Cash-out Refinance or Purchase
- Loans from $150,000 to $5,000,000
- No FISCO Score Minimum
- Rate as low as 5.50%
- 30 Year Fixed
- No Upfront Lender Fees
- Appraisals are paid COD after commitment
- 2 to 3 Week Closing
- Direct Portfolio Lender for Commercial Mortgages