Rate
11.99% monthly payments
14.99% no payments until sold or due
Term
12 months
Cost
2.5 points
$800 Lender processing fee for processing, inspection, underwriting
Actual costs for Attorney doc fee, Lenders Title policy, standard closing fees
Cost of 2 points if paid off within 7 months
Loan Servicing Company required, $150 setup, $25/mo
Prepay taxes and insurance at closing
No Appraisal or Survey in most cases
Criteria Review
Property review by lender (no charge)
Basic written plan for Property
No personal guarantee required
Basic items needed for initial review...
Property address
Copy of Contract (if a purchase)
Authorization for Credit pull
Once approved, final items to complete loan...
Entity docs (LLC, C-Corp, etc.)
Insurance quote for 12-month policy to be paid at closing
$150 Earnest Money to Title Company
Preferred Title Company: Stewart Title Company, 8739 Bandera Road, SATX 78250