Transactional funding is a short term loan used to finance the A-B side of a short sale or REO wholesale transaction. When using transactional funding, there is no credit check or income verification required. The only stipulation is that you have to have an end buyer lined up to purchase the property from you immediately after you close the A-B sale. We will not fund your deal unless the end buyer is in place and ready to purchase the property from you.
HOW DOES IT WORK?
This is simple. A one to three day, back-to-back real estate transaction funding involves 3 parties and 2 stand alone closings.
"A" - Seller
"B" - Investor
"C" - End Buyer
"A" sells to "B"(AB Closing) and "B" sells to "C"(BC Closing)
2.5 Points or minimum of $2,500-$3,500 (deal dependent)
Up to Two day loan
Same day funding available
No income or credit requirements
All fees/points will be shown on HUD and paid for with proceeds
End buyers funds must be at title company with approval to disburse before we will fund.
Copy of Executed Deeds required to fund.
In most cases 100% of transaction will be funded
Disbursement of buyers funds must be authorized before sellers funding.