The purpose of the program is to fund investment property purchases for immediate renovation flip and resale.
OPTION 1: 6% yearly interest for smaller loans - not tied to the property, secured by promissory note $25,000 - $100,000.
OPTION 2: 1 point and 8% yearly interest 2/3 point per month - tied to the property, secured by real estate $100,000 - $250,000.
Minimum of 3 months maximum of 12 months
All homes are bought at 75% LTV (loan to value) or less to include purchase price and repairs.
All loans are backed by a note and mortgage prepared by the closing attorney and are in FIRST POSITION as a lien on the property.
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