About
Us Apply
Now! Rehab100
Hard Money65%
LTV Hard MoneyForeclosure
Bailout
- Max Loan to Value or LTV is 65% of "As-Is" Value or "After-Repair-Value" for Florida Residential Properties.
- BCI Requires Photo of Subject Property To Include: Interior/Exterior/Street Views
- BCI Requires Comparables within .75 Mile From Subject Property – Comps Will Include Current Sales {within 6 Months}, Foreclosures, and Distressed Sales.
- BCI Requires 2 Current Appraisals {No Older Than 45 Days}
- BCI Sets Loan Amounts By Taking the Values of Both Appraisals and Dividing By Two...We Then Calculate The Loan Amount By Using this Amount and Multiply it By Our Max Allowable LTV i.e. 65% Example: 180k Value #1 + 200k Value #2 = 380k/2 = $190k Value... 190k x .65 = $123,500 Max Allowable Loan
- Max LTV Allowed is 65%, But This May Vary Up or Down Depending on The Experience of The Buyer and Overall Strength of The Project.
- BCI Requires All Clients to Have 5%-10% Of Their Own Funds In The Deal.
- BCI Requires All Clients to Have a 600 Credit Scores or Greater. If Score Is Lower than 600, Buyer Must Verify Liquid Reserves in the Amount of 6 Months PITI In Addition To The 5%-10% Down Payment Required at Closing.
- BCI Requires Signed 1003 Loan Application.
- BCI Requires A Detailed "Repair List" with Cost Estimates on All Rehab Projects.
- BCI Will Setup a Minimum of 3 Draws on Rehab Projects. 1st Draw Will Be Distributed to Buyer 3 Days After Closing.
- BCI Requires Buyers to have a Strong and Viable Exit Strategy from The Loan.
- All BCI Private Money Loans have a 6 Month Prepayment Penalty To Guarantee You, "The Investor" a Return On Your Investment.
- BCI Will Verify The Employment/Not Income of Each Loan Applicant
- BCI Will Require Title Search and Commitment on All Transactions.
- BCI
Will Require Homeowners Insurance on All Properties Purchased Up To
Full Replacement Value of The Home.
Our Process....
- BCI Receives Notification From Client that they are Interested In Using Private Money on the Purchase of an REO/Rehab Project or Foreclosure Bailout.
- BCI Analyzes the Deal and Collects Required Documents To Ensure That this Deal Meets Our Private Investor Guidelines.
- BCI Will Forward All Information/Documentation to Our Private Money Investor and will Require a Written "LOI "Letter of Interest" within 48 Hours of Receipt.
- Once BCI Receives the LOI from You the "Private Investor", We Will Go Ahead Order Two Appraisals by Two Different Appraisal Company's Which We Will Require to Be Paid For in Advance By The Client Requesting the Loan.
- Once BCI Receives Completed Appraisals....We Calculate Loan Amount and Update Our 1003 Loan Application, Appraisals, and Title Commitment for Final Loan Approval by You The Investor.
- Once We Receive Final Approval, We Will Go Ahead and Schedule Closing With Client and Arrange for Funding of the Loan
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After Loan Closes, Private Investor Will Receive All Documents Pertaining to The Closed Transaction. *Click Here to Become A Private Money Investor*
*Click
Here to Become A Private Money Investor*
Wanted Private Money/HardMoney Investors :
Earn 12.99% ROI Per Transaction!
Wanted Private Money/HardMoney Investors :
Earn 12.99% ROI Per Transaction!
Are you tired of earning 2-4% with your bank savings, or money market
account?
...with BC Mortgage you can increase your passive income by investing
in Florida Real Estate transactions secured by a 1st mortgage lien
position on properties purchased or refinanced at 65% of it's "as-is"
value!
Your Investment Is Secured by a 1st Lien Mortgage based on the Following
Lending Criteria:
or
Call 1-866-693-2568
