AAA TO A CREDIT:
Your personal credit scores are above 650 and you have a good relationship with your bank. The bank will happily approve your loan. Why would you hire Funding Resources, and how could we justify or earn our fee?
The key questions are: How competitive is your bank in terms of pricing, loan structure, and approval time? Further, does your bank offer the types of loan products that best suit your needs? And do you have the time to make an extensive search of numerous lenders to get these answers?
Here is where Funding Resources comes in. With just one phone call, we will review your situation and describe the loan terms we could obtain for you. If your bank can match these terms, then you have the comfort of knowing that you have a very competitive offer. And our advice is free!
However, in many cases our clients have found that:
FUNDING RESOURCES MAY ACHIEVE A SUBSTANTIAL SAVINGS IN LOAN COSTS, A SUPERIOR LOAN STRUCTURE, OR AN ACCELERATED APPROVAL!
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Can your bank offer:
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A true 15 year fixed rate commercial mortgage (no balloon or rate reset);
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10% downpayment financing for owner occupied and investment properties;
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Construction financing for smaller (under $1MM) commercial projects;
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No appraisal or title insurance required for certain real estate transactions;
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72-hour loan approval;
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Financing for restaurants, bars, gas stations, hotels, motels, or marinas?
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B AND C CREDIT:
Your credit scores are between 550 and 650 and your credit profile may fall short of bank financing. While you may not be able to borrow at the prime rate, there is no reason for you to pay exorbitant rates of 14%, 15%, or more!
Funding Resources will make sure that your loan is placed with an appropriate intermediate credit lender. You will need solid real estate collateral and the maximum loan/value ratio will normally not exceed 70%. Rates are typically one to three points above bank rates, but still quite low relative to credit card debt or "hard money" rates. And loan approval may be as quick as a few days!
HARD MONEY CREDIT:
Your credit scores are below 550 and you have experienced severe credit problems, perhaps including recent bankruptcies, charge offs, tax liens, or other delinquencies. It is probable that your need for financing is quite urgent, with settlement required within a few weeks.
You will have to be released from bankruptcy and need solid real estate collateral. The loan/value ratio will normally not exceed 60%. The interest rate and loan origination points will be high; however, points and other loan closing costs may usually be financed through the loan amount. Funding Resources will work closely with a specialist lender capable of closing your loan in as little as two weeks!
Call Steve Bennett today for details!
