
DOCUMENTATION REQUIREMENTS
- STATE OF TEXAS PROPERTIES ONLY.
- INVESTOR N/O/O LOANS ONLY
- INDIVDUALS, LLCs AND CORPORATIONS ALLOWED.
- FULL NAME, CURRENT ADDRESS & SOCIAL SECURITY# OF INVESTOR/BORROWER.
- COPY OF EXECUTED SALES CONTRACT (CURRENT TREC FORM)
- MAXIMUM LTV OF 70% BASED OFF THE AFTER REPAIR VALUE
- SINGLE FAMILY RESIDENCES, CONDOMINIUMS, TOWN HOMES, RAW LAND, OFFICE BUILDINGS ONLY.
- 1ST LIEN POSITION ONLY
- 3-18 MONTH TERMS WITH INTEREST DUE AT MATURITY (*MONTHLY OR QUARTERLY INTEREST PAYMENTS MAY BE IMPLEMENTED IF DEEMED NECESSARY.
- MINIMUM INTEREST RATE 11%, MAXIMUM INTEREST RATE 13%. RATE WILL BE DETERMINED PRIOR TO CLOSING. NO SURPRISES AT CLOSING. 2-5 COMMITMENT POINTS/FEES CHARGED AT CLOSING. FEES WILL BE DECIDED PRIOR TO FINAL APPROVAL.
- HAZARD/HOMEOWNERS INSURANCE REQUIRED (MIN. COVERAGE AMOUNT EQUAL TO OR GREATER THAN LOAN AMOUNT).
- PROPERTY INSPECTION REPORT (*UPON REQUEST)
- TITLE POLICY
- TAX CERTIFICATE
- SURVEY (* AN EXISTING SURVEY CAN BE USED IF LESS THAN 10 YEARS OLD)
- LIST OF REPAIRS TO BE COMPLETED AFTER PURCHASE
- LETTER FROM BORROWER – EXPLANATION OF EXIT STRATEGY
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Feel free to contact our office for additional details
817-282-9997