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Residential and Commercial
As a builder your business depends on your customer's ability to purchase your inventory. By sending your client's to us and being a member of our Builder Marketing Program you will be able to reach more qualified buyers. In an increasingly hard market for financing and lower LTV's (Loan to Value) requirements from lender's, our services and program for builder's provide you with a strong tool for moving inventory.
Lenders, Brokers, Banks
Lenders today need ways to differentiate themselves and find unique ways to offer value added services to their customers. In a market where lower LTV's are required and higher liquid assets are required to meet guidelines, we provide a service that allows you to help your customers. By plugging your branch or office or bank in our network of valued added financial services you can help your customer's meet the guidelines and requirements. The process is hassle free and easy for your customer's to participate in.
Buyer MUST have some Down Payment Funds for us to bridge the gap providing the total down payment needed to complete the transaction.
If Buyer has Some Down Payment, we can supply the remaining balance to complete the transaction.
Down Payment Assistance Participation Program
Are you short on funds to close?
Do you not have all the funds needed for closing?
When you have a transaction that is going to be short on funds to close we can help with our value added Gap Financing.
Our Gap Financing is a value added services for your client's to participate in and receive funds on deposit with major US brokerages and Banks. All funds are kept in escrow and all fees are protected in escrow.
We can Gap Fund your deal in as little as a few hours. We do however suggest allowing at least 3 business days for the setup of escrow. We do not guarantee a funding will happen when you bring it to us last minute and you will pay more on last minute rush requests. We do not have flat fee pricing.
The fee for funds typically is as follows:
$100K to $1M from 5-10%,
over $1M 3-5%,
over $10M 2-4%,
over $100M .25% to 1%.
These are only estimates and the rate may be less or more.
There is an upfront charge for our Gap Financing that you the buyer will need to deposit into escrow before the account is funded for your request. If you do not have the funds for the estimate please do not request the bid.
As stated earlier, this program requires your seller’s participation. Our Gap Financing is a fee paid out of the proceeds at closing by the seller.
The upfront charge will not have a flat fee pricing.
Summary of How Gap Financing Works
Many of your buyers may only qualify for 70% to 80% LTV loans and be short on the down payment required to complete the transaction.
Our company specializes in putting up some of the down payment funds required, therefore bridging the gap with your buyer so the transaction can still close.
I've included a sample scenario below so you may see how it works.
"You have a $2,000,000 appraised property to work and seller is willing to accept or net around $1,600,000. The buyer can only qualify for 80% financing or $1,600,000.
Write the purchase contract at $2,000,000 to match the current appraised value. We will provide the income with the buyer which they can use for their 20% down payment.
Now the buyer will have $1,600,000 (80%) from the lender and $400,000 (20%) from our investors for a total of $2,000,000 as required by the purchase contract.
The seller will then be responsible to pay our investors out of the proceeds as a consultant the $400,000 + 10% fee for a total of $440,000.
The seller will then net $1,560,000 not including any closing costs they may have agreed to pay."
Click Below For More Details on How to Structure Your Deal.
Below items are a Must have to first get started:
1. Must have a Good Faith Estimate.
2. Must have a Bank Commitment Letter.
3. Must be a Non-owner Occupied property.
4. Must have a Final Escrow Closing/Settlement Statement.
5. Must have a Bank Proof of Funds Letter supporting that the buyer has some DPA funds.
Please review examples to help you in structuring your deal. Do not call about Gap Financing/Down Payment Assistance. If you do not have the above items 1, 2, and 4, and 5 we will not respond.