BORROWERS
Looking to make a substantial amount of money flipping houses?
Our challenge is to make you successful! Our mission is for you not to fail! You will need assistance in financing your potential flip. We can guide you through every step of the way to achieving a successful house flip. We will guide you with your goals and aspirations in mind. We want you to succeed and make more money than our Lender, your Real Estate Agent, your Contractor, your Closing Attorney or Us. If it is not a good deal for you we PLEDGE NOT TO FUND IT!
Our goal is to act decisively and efficiently so you can achieve rapid and fully significant funds to complete your project in a timely and cost effective manner. We make loan decisions within a matter of days, not weeks! We always close on time and on budget. Never late once in over 7 years. With non-owner-occupied loans, often the banks take 45-60 days to close plus credit checks, income verification and 20%-25% down payment. In addition, most banks don't want to finance distressed properties because of the risk.
Other private lenders, often times, cannot close in a timely fashion and their funds are contingent on the closing of another property they are funding. Many lenders don't give 100% of rehab money and also want you to do some of the rehab and then reimburse you later. Other private lenders promise one thing like lower interest rates and points, but once you get into an application process with them those rates tend to change.
You can depend on us to fund your loan once we commit to it. We also advance our rehab funds. We close on time because none of our funds are contingent upon any of our lenders getting paid off on another loan. If you are new to flipping houses, we will help you to achieve the goals you only imagined and make them a reality.
If you are experienced in the real estate investment field we will demonstrate a smooth and rapid closing process. In addition, you will gain a Financial and Real Estate Consultant with many years of experience to be with you every step of the way, today and in the future. If you find a great deal, some of our top borrowers are getting 100% purchase and rehab financing!
Our goal is to act decisively and efficiently so you can achieve rapid and fully significant funds to complete your project in a timely and cost effective manner. We make loan decisions within a matter of days, not weeks! We always close on time and on budget. Never late once in over 7 years. With non-owner-occupied loans, often the banks take 45-60 days to close plus credit checks, income verification and 20%-25% down payment. In addition, most banks don't want to finance distressed properties because of the risk.
Other private lenders, often times, cannot close in a timely fashion and their funds are contingent on the closing of another property they are funding. Many lenders don't give 100% of rehab money and also want you to do some of the rehab and then reimburse you later. Other private lenders promise one thing like lower interest rates and points, but once you get into an application process with them those rates tend to change.
You can depend on us to fund your loan once we commit to it. We also advance our rehab funds. We close on time because none of our funds are contingent upon any of our lenders getting paid off on another loan. If you are new to flipping houses, we will help you to achieve the goals you only imagined and make them a reality.
If you are experienced in the real estate investment field we will demonstrate a smooth and rapid closing process. In addition, you will gain a Financial and Real Estate Consultant with many years of experience to be with you every step of the way, today and in the future. If you find a great deal, some of our top borrowers are getting 100% purchase and rehab financing!
Rehabilitation Funding
We like to be involved in financing rehab into distressed loan properties. There are many cases in which more than $10,000 in rehabilitation work must be completed. In those circumstances, we will require the rehab to be privately financed into the loan. The reason is that we don't want to finance investors who will convert distressed properties into slum properties. The end result should achieve a successful community development project as well as a profitable investment.
The private funding of rehabilitation is evaluated by both Private Lender of New England and the borrower. The goal is to bring the property up to FHA financing standards once the rehabilitation has been completed. The borrower and the private lender work through a detailed rehab schedule of draws. In most cases the private lender will release rehab money up front. Since we are dealing with private lenders, the turn around on draw payments is usually a matter of days, not weeks.
The private funding of rehabilitation is evaluated by both Private Lender of New England and the borrower. The goal is to bring the property up to FHA financing standards once the rehabilitation has been completed. The borrower and the private lender work through a detailed rehab schedule of draws. In most cases the private lender will release rehab money up front. Since we are dealing with private lenders, the turn around on draw payments is usually a matter of days, not weeks.
How Do I Get Started?
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It's easy! Just contact our company and we will move rapidly. The nature of this business is to close in less than 30 days, and we usually do. You should have a property in mind, preferably under contract, prior to contacting us.
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5 Steps To Proceed With Your Property
- Verbal Consultation: A representative will talk to you about the process and the property you have in mind.
- Application: Include rehab budget, purchase and sales agreement, projected after rehab value (ARV).
- Appraisal: Our representative will review the property or site.
- Commitment letter: We issue the borrower a written term sheet that includes rehab budget, if agreed to in writing, we can usually close once the borrower can obtain title insurance.
- Closing: Obtain title policy. We compete with cash buyers so we must close in the same time period. And guess what? We do!
A borrower is a champion of improving neighborhoods! Renovating homes for first time home buyers. Taking vacant land and building new homes. Renovating dilapidated apartments, thus providing good housing for subsidized renters.