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100 % LOAN to VALUE LOANS (Using Cross Collateral)

100% financing hard money loans with no money down are available with “cross-collateral”, where borrower allows the loan to be secured by equity in an additional, usually debt free and clear property.

For example, there is a property you want to purchase for $100,000. You don’t want to dedicate the resources to the down payment or just don’t have it. You own another property that is worth $80,000 that is free and clear. You have $80,000 worth of equity. Brad Loans is able to loan you 100% of your purchase price (no money down) for the new property you are buying, as we would use both the property you are buying, as well as the property you already own, as collateral. You are pledging the equity in your additional collateral as additional security for your loan in lieu of putting up a cash down payment.The cost for this feature is a fee of $975.

LOAN COSTS

In addition to loan origination “points” there are $1920 in other eMortgage loan fees which includes Loan doc preparation, Underwriting, Loan Processing, Lender Inspection, Application Fee. Does not include title fees, appraisal, or pre-paids. *Remember to set money aside for your title fees, escrow fees, pre-paids for 1st year insurance and initial deposit in to impound account for future taxes & insurance, account servicing set up fee, prorated interest, appraisal & other typical closing costs. These typical closing costs—separate from loan fees—usually add up to about $3500 or so.

IMPOUND ACCOUNT REQUIRED

Monthly Payments to include 1/12 taxes and insurance + an estimated $30 account servicing fee to loan servicing agent (we currently use Evergreen Note Servicing).

401(K) AND IRA PURCHASES FOR INVESTORS

Tax Free and/or Tax Deferred Profits! Use your 401(k) or IRA funds for a down payment and let BRADLOANS.COM finance the balance. Make 25% to 100% or more return on your down payment investment tax free or tax deferred. Example: you buy a home for $100,000, put $30,000 down, resell for $130,000, you made a $30,000 profit on your $30,000 investment, and best of all, your profits are tax deferred, or if in a ROTH 401(k) or ROTH IRA, your profits are tax free! (consult your tax advisor).

HARD MONEY LOANS FOR REAL ESTATE INVESTORS

As real estate investors ourselves we understand how competitive the market can be, and how getting a loan fast can make the difference. Our hard money loans make it easy for real estate investors to apply for a loan, get funding quickly, and overcome bad credit issues. This isn’t more true than when real estate investors are seeking a hard money loan for a fix and flip property. The loan can be short term, include the cost of renovations, and even not require a down payment with cross collateral.

ARV LOAN PROGRAM (RENOVATIONS INCLUDED LOAN)

When purchasing properties for the purpose of fix and flipping them you can finance the cost of renovations into the loan. Up to 70% of renovation costs can be rolled into your loan on any of the loan programs above. The Cost for an ARV loan is $575 additional. Roll RENOVATION COSTS into your PURCHASE LOAN based on renovation cost and ARV (After Repair Value) appraisal. Renovation cost loans are done on a case by case basis. Below is an example to give you an idea of how it works.

• We fund up to 70% of total of purchase price and estimated renovation costs
• We release up to 70% of purchase price at Close of Escrow
• We release financed renovation costs upon completion of renovations

EXAMPLE:

$70,000 purchase price + $30,000 estimated renovation = $100,000 total acquisition cost. 70% of $100,000 = loan amount of $70,000

Details of the above example:

$30,000 down ($30% of $100,000)
+ $1,920 eMortgage flat fee for 1 year Interest Only Loan program
+ $3,500 estimated 3rd party closing costs & pre-paids
+ $575 Renovations Included Program fee

$35,995 Total Cash out of pocket from Borrower to COE in this example
$70,000 BRAD LOAN is fully funded to title at close of escrow
$49,000 70% of purchase price released at close of escrow
$21,000 remaining loan proceeds hold-back in escrow released to borrower upon completion of renovations