We
are interested in lending money for any “common sense” loan secured primarily
by single family residences. Other income producing properties will be
considered.
Here
is the Deal
·
We
will lend up to 70% LTV (Loan to Value) of the property
·
We
will provide 100% financing so long as the purchase price, repair costs, and
closing costs do not exceed 70% of the appraised value
·
Your
credit history does not prevent loan approval
Typical
Loan Terms
·
11.99%
interest rate
·
3
to 4 points due at closing
·
6
months interest only loan with longer extensions available up to 24 months
·
A+
credit rating qualifies for deferred interest payments and advanced rehab funds
Here
is the Process
·
Contact
us to talk about your loan 281-397-9708 or ray@mmapclub.com
·
Have
your proposed loan amount and estimated after repair value (ARV) and we can
tell you exactly what loan terms we can offer
·
We
will order an appraisal of the property to establish value (you pay $350.00 for
appraisal)
·
Once
the title company is ready to insure the transaction, we close and fund the
loan
What
we DON’T do
·
No
bank red tape
·
No
normal underwriting conventional lending procedures
·
No
loan committees
·
No
tax returns
·
No
owner occupied home loans
