- You’ll have access to our Proof of Funds…Immediately
- We typically have a 3 – 5 day turn around time
- This is not a loan so No Credit or Income is required
- We charge 0 points for same day deals
- NO per transaction processing fee either
- $1M per deal Maximum
- Long Term funding is NOT available
- There is no minimum we will fund, as long as it makes sense
- Residential or Commercial doesn’t matter to us
- U.S. based transactions only
- This is NOT for rehabs. Must have cash buyer in place
- There is a small membership fee
Transactional Funding FAQ?
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?
Generally NO! We provide transactional funding to accommodate all of your wholesale (flip) needs, allowing you to flip your property within 24 hours using our funds! 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. Once you become a member you can use them as needed! 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?
ZERO COST! We offer the most competitive rate in the industry. There are ZERO points on any amount under $600,000 for SAME DAY DEALS. You only pay a small membership fee for 1 year! We don’t care how many deals you do either. We will fund your deals as long as they are under $1M.
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.
Do I need an end buyer?
Yes! That’s what makes this all possible. You need a end buyer who is will to pay all cash for your deal. That’s how we can make this happen in 1 day. Conventional buyers take too long and will not work for what we do. You must have a cash buyer.
How soon can we close?
Generally we’d like a week (5 business days) to work on your deal. We have done them faster, but we don’t like scrambling last minute. You need to plan ahead. Don’t come to us the day before the deadline and want funds. Most likely it won’t happen.
How much funding may I request?
We will fund any amount up to $1M. There is absolutely no limitation on property type, Residential or Commercial. 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 the funding request form we provide and we will provide the necessary 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 don’t care where YOU are from, but the property must be in the U.S. We have many 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!