Three Month No-Pay Plan

THE THREE MONTH NO-PAY PLAN was designed for real estate investors who need cash now and are trying to minimize negative cash flow. The points and interest rate are slightly higher than the BASIC PAYMENT PLAN , however, this plan significantly reduces negative cash flow. The details are as follow:

  • Term:
    		•  One year
  • Loan-to-value:
    		•  Up to 70% of the after-repair-value (ARV). This can include purchase price, repair cost, and closing costs.
  • Interest rate:
    		•  13% on an annual basis or 1.08% per month
  • Monthly payment:
    		•  No payments are made for the first three months of the loan. The remaining nine months will require interest only monthly payments. The three months of deferred interest is due when the loan is paid.
  • Points:
    		•  5 Points
  • Closing costs:
    		•  Including points, closing costs average between 9% and 11% of the loan amount.
  • Prepayment penalty:
    		•  None
  • Turn around time:
    		•  Two weeks


     
     
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