matheno
08-18-2006, 04:32 AM
Advancing Funding
Like most people, you probably have some obstacle preventing you from buying your own home. Maybe you’re only qualified 85% financing and you need the other 15% or you need help paying off bills, or maybe there is an old judgment lingering on your credit report. I can help you eliminate these problems by advancing funds based on the EQUITY in your new home.
Down Payment: If the Buyer needs their own money for a down-payment, we will help the Buyer earn the funds needed for their down-payment. These funds will be sourced to the Buyer’s bank account and are the Buyer’s as long as they complete their obligations under the Buyer’s Contract and the transaction closes.
Closing Costs: This is the same as the down-payment (it should be noted that the Seller can usually contribute to the Buyer’s closing costs and we should not be used as a replacement for Seller concessions).
Reserves: If a loan program requires the Buyer to have reserves (non-seasoned) we can help the Buyer earn the funds to show in reserve. These funds will be sourced and are the Buyer’s as long as they complete their obligations under the Buyer’s Contract and the transaction closes.
Example
Contracted Sales Price $ 200000.00
Loan to Value Percentage (amount qualified at) 95%
Required Down Payment (amount needed to close) $ 10000.00
Closing Cost from your loan (i.e. lender fees) $ 6000.00
Seller Take-Away Cash (the sellers bottom line) $ 186000.00
Seller-Paid Costs (i.e. transfers) $ 3000.00
Earnest Money $ 500.00
Funds Given to Borrower (money given to close) $ 12500.00
Fee to Lender (fee for the transaction on seller side) $ 1450.00
Total Paid Back by Seller (total sub. From seller) $ 13950.00
Net Cash to Seller $ 183000.00
In addition
OUR OTHER LOAN PROGRAMS INCLUDE:
- 100% PAYMENT OPTION ARM UP TO 5 MILLION
- 125% LTV LOANS
- NO SEASONING REQUIRED FOR REFINANCING OF YOUR HARD MONEY LOANS
- INTEREST ONLY LOAN PROGRAMS
- NO DOC, AND STATED LOAN PROGRAMS
- 1% INTEREST RATE - FLEX OPTION ARM LOANS
- SUBRPIME OR BAD CREDIT LOAN PROGRAMS
- FIRST TIME HOME BUYER PROGRAMS
- BANKRUPTCY BUYOUT PROGRAMS
- LICENSED TO LEND IN 38 states
- MINIMUM LOAN AMOUNT IS $75,000
- Quick turn around time!!!
- 100% CLTV COMMERCIAL LOANS
- CUSTOMER SERVICE ORIENTED
- WE GET THE MOST DIFFICULT SITUATIONS DONE (Score 480 approved).
****
Matheno Howell-Bey
mhowellbey@1stmetro.net
410-908-4324
Like most people, you probably have some obstacle preventing you from buying your own home. Maybe you’re only qualified 85% financing and you need the other 15% or you need help paying off bills, or maybe there is an old judgment lingering on your credit report. I can help you eliminate these problems by advancing funds based on the EQUITY in your new home.
Down Payment: If the Buyer needs their own money for a down-payment, we will help the Buyer earn the funds needed for their down-payment. These funds will be sourced to the Buyer’s bank account and are the Buyer’s as long as they complete their obligations under the Buyer’s Contract and the transaction closes.
Closing Costs: This is the same as the down-payment (it should be noted that the Seller can usually contribute to the Buyer’s closing costs and we should not be used as a replacement for Seller concessions).
Reserves: If a loan program requires the Buyer to have reserves (non-seasoned) we can help the Buyer earn the funds to show in reserve. These funds will be sourced and are the Buyer’s as long as they complete their obligations under the Buyer’s Contract and the transaction closes.
Example
Contracted Sales Price $ 200000.00
Loan to Value Percentage (amount qualified at) 95%
Required Down Payment (amount needed to close) $ 10000.00
Closing Cost from your loan (i.e. lender fees) $ 6000.00
Seller Take-Away Cash (the sellers bottom line) $ 186000.00
Seller-Paid Costs (i.e. transfers) $ 3000.00
Earnest Money $ 500.00
Funds Given to Borrower (money given to close) $ 12500.00
Fee to Lender (fee for the transaction on seller side) $ 1450.00
Total Paid Back by Seller (total sub. From seller) $ 13950.00
Net Cash to Seller $ 183000.00
In addition
OUR OTHER LOAN PROGRAMS INCLUDE:
- 100% PAYMENT OPTION ARM UP TO 5 MILLION
- 125% LTV LOANS
- NO SEASONING REQUIRED FOR REFINANCING OF YOUR HARD MONEY LOANS
- INTEREST ONLY LOAN PROGRAMS
- NO DOC, AND STATED LOAN PROGRAMS
- 1% INTEREST RATE - FLEX OPTION ARM LOANS
- SUBRPIME OR BAD CREDIT LOAN PROGRAMS
- FIRST TIME HOME BUYER PROGRAMS
- BANKRUPTCY BUYOUT PROGRAMS
- LICENSED TO LEND IN 38 states
- MINIMUM LOAN AMOUNT IS $75,000
- Quick turn around time!!!
- 100% CLTV COMMERCIAL LOANS
- CUSTOMER SERVICE ORIENTED
- WE GET THE MOST DIFFICULT SITUATIONS DONE (Score 480 approved).
****
Matheno Howell-Bey
mhowellbey@1stmetro.net
410-908-4324