DOCUMENTATION REQUIREMENTS

  1. STATE OF TEXAS PROPERTIES ONLY.
  2. INVESTOR N/O/O LOANS ONLY
  3. INDIVDUALS, LLCs AND CORPORATIONS ALLOWED.
  4. FULL NAME, CURRENT ADDRESS & SOCIAL SECURITY# OF INVESTOR/BORROWER.
  5. COPY OF EXECUTED SALES CONTRACT (CURRENT TREC FORM)
  6. MAXIMUM LTV OF 70% BASED OFF THE AFTER REPAIR VALUE
  7. SINGLE FAMILY RESIDENCES, CONDOMINIUMS, TOWN HOMES, RAW LAND, OFFICE BUILDINGS ONLY.
  8. 1ST LIEN POSITION ONLY
  9. 3-18 MONTH TERMS WITH INTEREST DUE AT MATURITY (*MONTHLY OR QUARTERLY INTEREST PAYMENTS MAY BE IMPLEMENTED IF DEEMED NECESSARY.
  10. MINIMUM INTEREST RATE 12%; MAXIMUM INTEREST RATE 14%. RATE WILL BE DETERMINED PRIOR TO CLOSING. NO SURPRISES AT CLOSING. 3-5 COMMITMENT POINTS/FEES CHARGED AT CLOSING. FEES WILL BE DECIDED PRIOR TO FINAL APPROVAL.
  11. HAZARD/HOMEOWNERS INSURANCE REQUIRED (MIN. COVERAGE AMOUNT EQUAL TO OR GREATER THAN LOAN AMOUNT).
  12. PROPERTY INSPECTION REPORT (*UPON REQUEST)
  13. TITLE POLICY
  14. TAX CERTIFICATE
  15. SURVEY (* AN EXISTING SURVEY CAN BE USED IF LESS THAN 10 YEARS OLD)
  16. LIST OF REPAIRS TO BE COMPLETED AFTER PURCHASE
  17. LETTER FROM BORROWER – EXPLANATION OF EXIT STRATEGY

CONTACT US

“Your One Stop Shop”

Feel free to contact our office for additional details

817-282-9997

Clayton Gumm

Loan Originator
Owner First Funding Group
23+ Years Real Estate Experience
$200+ million Real Estate Loans Originated
MBA in Real Estate Finance

CONTACT CLAYTON
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