Source1 Funding
Home
- Purchase and refinance
- Loan Amount: $30,000 up to 75% of FHA CAP
- 6-24 month term with no prepayment penalty
- 90% of purchase price
- 100% of Rehab
- Interest Rates:8-15%
- Origination points: 1 - 3 points
Property Criteria
- Non-Owner-Occupied Properties
- The loan amount will not exceed FHA cap
- Residential 1-4 units
- Properties with 5 bedrooms and 3 bathrooms or less and
- Properties with 2800 SQFT or less
- Properties with a lot size of ½ acre or less
Multi-Family and Commercial Loans Available
Contact
Your Money Lady:
Mary Flynn
Private Money Consultant
253-282-5447
yourmoneylady2@gmail.com
Source1 Funding is a service that might allow you to get information from, and/or be contacted by, lenders. If so, we will have you complete a separate form on the Site for that purpose. You understand that (a) we are not a lender ourselves, nor a mortgage broker; (b) the information you submit will not be treated as a loan application for purposes of the Real Estate Settlement Procedures Act; (c) by submitting information you are giving us permission to forward the information to lenders, and for lenders to contact you; (d) lenders may provide us with information concerning your loan; (e) we are independent of any lender who contacts you; (f) we do not guaranty that the lenders who contact you will offer the best terms available, or even competitive terms; (g) we do not guaranty that the information provided to you by lenders will be accurate; (h) should you submit an application to a lender, you proceed at your own risk, and will not hold us responsible for any claims you might have against the lender, including but not limited claims for fraud; and (i) we WILL NOT provide the information you give us, including your name and email address, to other service providers including title companies or insurance agencies or lenders without your permission.
Source1 Funding Partners Program:
Partner with Source1 Funding and we can cover up to 100% of the transaction including:
- 90-100% Purchase Price
- 100% of Rehab and
- Closing Cost wrapped into the loan
Lower Origination fees — 1 pt (No rehab, No Cash-Out), 2 pts (Rehab, Cash-Out)
Flat 9.75% Interest Rate
Max LTV of 70% with general appraisal
QUALIFICATION:
- Experienced Investors with a minimum of 2 flips
- Completion of Loan Documents and Joint Venture Agreement
Source1 Funding Great Rates:
In real estate investing, private money is often preferred because, unlike conventional funding, it's quicker, more simple, very flexible, and your personal finances won't be placed under a magnifying glass. However, because of this, it's a well known fact that private money lenders take on risk. Due to this higher risk, the interest rates for a private money loan are often higher than conventional loans – ranging from 8–15% depending on the lender and the perceived risk of the loan. Points can range anywhere from 1–4% of the total amount loaned.
Since it varies so much, most people shop around, and NEWS FLASH, we encourage you to!
WHAT? That's right. We actually want you to find the best price, so we can beat it!*
As long as the deal fits within our lending criteria, we'll beat the price, fund the deal, and celebrate your success with you!
This is important because not only will we beat our competitors, our customer service is superior and our passion for your success is unparalleled. We make it worth your while to come back!
So, go ahead, shop around, but make sure you come back to SOURCE1 FUNDING and allow us to serve you!
