Does my credit or income affect my ability to use your funding?
NO! We do NOT have any type of credit or income requirements associated with our program! Unlike others, we do NOT base fees or approval on your background or current financial situation. Everyone qualifies for funding... as long as you they meet our requirements!
Can I use my own Title Company or Closing Attorney with your transactional funding?
Yes, you can choose your own closing agent; whether that is a title company, closing attorney or other escrow agent. We will verify their credentials prior to closing. If you need a referral, we have a vast network of closing agents that we have worked with previously, to help close your transactions. Regardless of whom you choose, we will be here to work with them to ensure a smooth and seamless simultaneous closing. The main thing is that you must use the same title company or attorney for both sides of the transactions.
Why, in some cases, do I need to use two different closing agents for a simultaneous closing?
In many cases, the bank will mandate a closing agent to facilitate your purchase from the bank. Generally, these closing agents are under contract with said bank and are limited in their capacity to conduct simultaneous closings. In this situation, we suggest utilizing a second closing agent for your resale transaction with your end buyer. It does take slightly more coordination, but in the end, gets the job done!
Do you provide funding for more than one day?
YES! We provide both transactional funding to accommodate all of your wholesale (flip) needs, allowing you to flip your property within 24 hours using our wet funds and longer term funding should 24 hours not be long enough! On occasion, due to geographic location or wire submission deadlines, funds may not be returned until the following business day. This is evaluated on a case by case basis and is not usually an issue. Any requests that do not fit the above guidelines should be directed to our Funding Team.
Are your Proof of Funds Letters accepted everywhere?
Yes, our Proof of Funds Letters are ACCEPTED EVERYWHERE. Our Proof of Funds letters are provided on official letterhead. On occasion, an agent or bank representative may request a Verification of Deposit, or VOD, in the form of a bank statement or other verifying documentation. When faced with this, just give them our phone and fax number. We will respond expeditiously to support your funds availability.
What information do we need to provide for the Proof of Funds Letter?
The letter will be generated in your name, your entity's name or both. Each letter is property specific so please be ready to provide the address information for your subject property and amount required.
How soon can I obtain a Proof of Funds Letter?
You are able to obtain Proof of Funds Letters at anytime. You simply fill out a Proof of Funds request and it will be created! We may need to contact you to verify the request and answer any questions depending on the purchase amount.
What is the cost for your transactional funding?
We offer the most competitive rates in the industry. Our funding starts at 2 points for any amount under $500,000 for SAME DAY DEALS. You only pay for what you utilize! If longer term funding is needed we do have that available as well.
Do you cover closing costs?
Yes, you may request any amount necessary to cover your closing costs and any other fees associated with your transaction. This helps to limit your out of pocket expense.
How much funding may I request?
We will fund any amount. There is absolutely no limitation on property type. If you can flip it, we WILL fund it!
What if I am having trouble with my title company in regards to utilizing your funding?
Please fee free to contact our Funding Team directly for assistance. We are more than happy to work with the title company in facilitating your closing.
What about FHA?
FHA recently lifted the 90 day seasoning requirement.
Once I have a deal on the table, how do I request the transactional funding?
Provide us with your basic contact information by filling out funding request form and we will provide the forms required for closing.
Do you offer transactional funding for Canadians?
We currently offer funding and proof of funds services for anyone and everyone as long as the funds are used for U.S. based transactions only.
We have many very successful Canadian investors who are investing in the U.S. with our services. We are happy to further discuss this with you and we look forward to your success!
