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04-04-2024, 10:09 AM #3
So you are admitting fraud by claiming they are home improvement loans but can be used to pay off MCA's? How does that work? I can do Heloc on primary residences but need a 650 Fico.
For Home Equity Fast Access
Get (the following docs)
1.Last mortgage statement (if owned free and clear then a snapshot of the deed)
2.A recent (less than 7 days old) tri-merge credit report
3.A Zillow.com home value estimate (just a snapshot will do)
To go further (to make sure you are not wasting time):
1.Make sure the client only has one or no liens (no second mortgage)
2.Make sure the client’s name is on the mortgage or deed
3.Make sure the client has at least a 650 credit score across all 3 bureaus
4.Subtract the remaining balance on the mortgage from the Zillow estimate. If it is greater than 150K submit.
If everything does not line up do not submit. If it does line up submit via e-mail to: steveprobiz@gmail.com – put your company name and the client’s name in the subject line and attach all the docs (1-3).
On this file the owner will need a minimum 650 FICO
Success based consulting fee is 10%, which withdrawn the day after the client gets the HELOC and is able to transfer funds from their personal account to the business account (we pull our fee from business accounts only)
Max line will be $250,000
APR will likely be between 12.9% to 14.9% (only on funds used)
Funds are delivered on a bank credit card (Visais or Mastercard)
2.5% charge to transfer money from the card to the bank account
We need:
Owners DL front and back
The owner's last personal tax return
a copy of the last mortgage statement
a copy of the deedLast edited by Olderguy; 04-04-2024 at 10:11 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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