Fix'n'Flip Loans

Requirements for the fix'n'flip loan program: (WE LEND IN ALMOST EVERY STATE) The minimum loan amount is $50,000.00 The minimum required credit score is 610 (minimum score on all three bureaus) This is a single family - non-owner occupied loan. The program lends 80% of the Purchase Price on the purchase contract and 80% of the re-hab budget The loan program requires the Borrower to contribute 20% at closing-cash. -No Seller Carry Costs: 13% - 4 points (all payments monthly interest only). 12 months –3 month pre-payment penalty @ 3pts.

The documents can be either faxed to 425-486-0265 or mailed to our office.

1. ARV Loan Application
2. Copy of your current credit report – (if applicable –must be current in the last 3 months)
3. Copy of Executed Purchase contract signed by both Buyer and Seller.
4. Copy of the Comps and Photos and any reports you may have on the property (appraisal, environmental, survey, etc). If your purchase price exceeds $250,000.00 an appraisal will be required at borrower's expense.
5. Title Commitment – along with your closer's name and number (No Bull Financial, LLC and/or it's assigns will also need to be added to the routing list. Upon approval the title company will be required to add the following endorsements: 8.1; 100; 110.1 and title transfers for past 2yrs)

Once we have received #1-9 of your loan package, it can then be reviewed for approval. Upon approval the following must be provided before we can close:

• Insurance – (No Bull Financial, LLC and/or it's assigns will need to be the mortgagee (loss payee) on the Insurance for the full term of the loan. Insurance must be paid in full at time of closing.
• $300 non-refundable application fee will be required up front with package. (We cannot begin to process your file until this fee has been received. This fee is to pay two 3rd party Realtors to pull comps.
• $500 non-refundable legal fee deposit will be required upon approval of the loan. (That will be applied to the total legal fee of $1,500/per transaction balance of $1,000 at closing.)
• A $105 inspection fee will be required upon closing and for each draw request and added to the principal of your loan amount.
• Please note upfront we will have an interior inspection done on the property within 48hrs of receiving a completed package.
• You may add all closing costs and points into the total amount of the loan.
• The loan can close within 10-15 days of receiving all the required documents and legal fee deposit.

^{If No Bull Financial, LLC and/or it’s assigns is not satisfied, for any reason in its sole and absolute discretion, with any of the conditions described above, then No Bull Financial, LLC and/or it’s assigns will have no obligation to make this loan, nor will any person have any expectation that any loan will be made. Further, all of the borrowers recognize that this is simply an indication of interest and agree that there will be nothing binding between the parties (other than the borrowers' agreement to pay all legal fees and expenses) until such time as all parties sign a binding loan agreement. By clarifying these issues in advance, we hope to expedite the loan process and reduce misunderstandings between the parties. We look forward to working with you in this matter.}