Lenders wanted

NJ, Investment Property (Residential), Purchase, $131K, FICO, 70% LTV
Posted on 8/9/2016 11:08:50 AM

I've got a deal in NJ that I need to get funded.
We are trying to close in a week. Can you help?

This borrower has $80K in the bank. Has done 3 flips and has 2 other homes listed for sale.

Negatives:
Has a felony of 2 years.
Has NSF fees from the past 30 days. He sold a home that gave him the 150K. Got in a cash crunch until a home sold.
He lives in WA state and doing flips in NJ. Out of state borrower.
Credit score is about 620
Homes are simi- rural.

Let me know if you have any interest in these deals.
Deal 1: 2 Highview Rd Fredon NJ 07860 "Loan
Type" Fix and flip
Purchase Price" $124,500
Rehab Estimate" $39,000
ARV "Estimated $239,000
Loan Amount" $130,800
Estimated Total Cash To Close Down + Reserves" $53,180
"Projected Profit" $44,580


REPLIES
  • by aaron on 9/2/2016 11:35:59 AM

    If you are still interested in the loan contact me via the email below.

    aaronbraunfinancialservices@gmail.com

  • by pamela on 8/25/2016 10:54:36 PM

    Do you still need the loan?
    Contact me via the email below

    pamelajfinancialservices@gmail.com

  • by Ryan Thomas on 8/16/2016 2:20:21 PM

    Hello

    Good day to you, on behalf of Atosmax Lending Firm, I would like to draw your intention to your recent post in search of a loan 

    Well I can help you with the loan you're urgently seeking for at 5.6% interest Rate for the requested term, do not hesitate to get back to me with your direct email address and phone number so I can provide you with our funding procedures 

    Need your response soon

    (+1) 560-262-9097
    Atosmaxlendingfirm@gmail.com

    Best Regard
    Ryan Thomas

  • by Eugene Carpenter on 8/16/2016 1:14:23 PM

    RESIDENTIAL/INSURANCE ALTERNATIVE

    BOND FUNDING PROGRAM

    www.Alexisrealty.solutions

    REAL ESTATE TRANSACTION HIGHLIGHTS:

    * 100% Financing & No LTV Restrictions
    * Purchase, Purchase/Rehab, Refinance: No Cash Out
    * Refinance/Rehab: Debt Consolidation
    * Construction
    * 30 Year Term, No Pre-Payment Penalty
    * Approximately (+/-) 1% Fixed Rate. No Rate Restriction
    * No Credit Check (FICO): Asset Based
    * Minimum Loan Amount is: $350,000.00 and upward. No maximum
    * 2nd Home/Vacation Home is underwritten case by case

    RESIDENTIAL TRANSACTION INVOICE:

    4.5% of the loan amount/loan request; includes Bond Premium, Lender, Underwriting, and Appraisal Report & Survey Fees.

    Client: Needs to provide (Proof of Funds of: 4.5%) to start submission.

    Client pays invoice after receiving their loan quote from underwriting upon approval “Must be paid in Order to proceed”.

    Funds are wired to: Trust Account @ Wells Fargo Bank (BCL: Bank Capability Letter: Generated at the time).

    Brokerage Commission: 4% of loan request; is due at the time of funding. Purchase/Re-finances: This fee can be built into the loan request. (Brokers are protected).

    30-45 days for closing.

    STEPS TO FOLLOW IN SUBMITTING LOAN APPLICATION

    1. Submit the Uniform Residential Loan Application 1003 along with Proof of Funds to Dawnn L. Long, Alexis Realty Solutions at dawnnlong@gmail.com along with your referring Alexis Consultant’s name. You will also need to provide Purchase Agreement.

    2. The underwriter will require the following:

    A. Purchase Agreement
    B. Financials
    C. Appraisal
    D. Title work
    E. May ask: Land Survey

    3. After approval of your loan, you will receive a Funding Addendum that you will need to have your client sign and notarize and wire the 4.5% bond money within 24 hours.

    4. Upon client’s request you will receive an Approval letter.

    Please note the following:

    • Closing cost is a tax write-off.

    • Broker fees are also a write-off; tell your clients keep all statements and receipts we provide to them.

    • 4.5% bond funding is also a tax write-off.

    • Inspection Fee Included.

    • You can use this loan product to refinance current home as well as follows: (Use the same 1003 Application)

    - You can pay off your current mortgage by providing lender’s name and home owner insurance company, agent, address and phone number.

    - You can pay off your debts

    - You cannot get cash back on this loan product

    Account Executive
    EUGENE CARPENTER
    (414) 770-4730 cell
    Email: creditconcepts365@gmail.com

  • by Mr James on 8/12/2016 1:10:55 PM

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