We do NOT have an application or application fee. We lend up to 70% of ARV. We do NOT require survey, inspections, appraisals, and there is no prepay penalty 6 month loan with option to extend every 3 months for 1 point (at our discretion).
We require at least 6 months of insurance on the home for at least our loan amount or higher. And the premium MUST be collected on the HUD.
We do not wire funds for closing until we have a fully executed closing pkg in Hand. For same day fundings, the closing pkg must be in our email by 12pm. Otherwise funding will roll to the next day.
We charge anywhere from $100-$150 depending on location and timing. Draws are released only on COMPLETED repairs.