If you need funding to close a deal and resell it right at the closing table, then our transactional funding or “flash cash” loans may be right for you.
Like a traditional closing, a double-closing uses an escrow company and title insurance. It also, however, requires less underwriting which usually translates to faster closings.
We offer 2 programs for transactional funding – same day and 30-day.
Program #1 – Same Day Transactional Funding
This is for the wholesaler that purchases and flips a property the same day. We provide funds for the “A to B” closing and, if needed, the “B to C” closing as well. Because both transactions occur consecutively, with payoff of the A to B loan the same day, our fees are lower and we require significantly less underwriting. Our goal is to provide 100% of the funding since it will be paid off the same day.
Terms: Up to $300K – 2 points ($2500 minimum)
Over $300K – 3 points
Program #2 – 30-Day Transactional Funding
This program helps investors who need to take title to the property for up to 30 days, before flipping it, such as with a short sale property. The great advantage to our borrowers is the high loan to value loans we can offer, since the loan will be paid off within a month. This program requires a buyer under contract with approved financing on the back end.
Terms: Same as our standard loan terms but ltv up to 90%.
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