Close & List Funding TERM SHEET
Close & List Funding is a short-term funding program that provides 100% financing for experienced wholesalers and real estate investors to purchase deeply discounted, non-value-add single-familyproperties. Designed for quick resales, the loan operates on a 120-day term with a tiered fee structure depending on loan duration. Eligibility requirements are centered around the deal, not the borrower. Property must be deeply discounted to qualify for funding. Borrowers are required to have an LLC. This exclusive funding solution allows investors to scale their business without upfront capital, allowing them to quickly and easily acquire discounted real estate.
Loan Type |
Short term wholetail funding |
Loan Amount |
100% of purchase price |
Max Loan Amount |
Up to $200,000 |
Loan Term |
Up to 120 days |
Loan Fees |
$1000 underwriting fee |
Loan Interest (Tiered) |
0-45 days = 7 points
Loan Interest (Tiered)
46-90 days= 9 points
91-120 days = 12 points
|
Property Criteria |
Single family up to 4 units
No tear downs
Property Criteria
No full gut rehabs
Must be vacant at closing
Must be off market (not active on MLS)
|
Borrower Requirements |
Must have LLC in good standing
Borrower Requirements
Sign personal guarantee
Real estate experience preferred (2+ deals closed)
|
Borrower Expenses |
Closing Costs
Earnest Money
Borrower Expenses
Insurance
Lender Title Policy
|
We Do NOT Lend in These State |
California
New York
Oregon
We Do NOT Lend in These
State
Washington State
Colorado
Delaware
Rhode Island
|
Repairs |
Borrowes may complete approved repairs at their own expense |
Earnest Money |
Borrower is responsible for depositing earnest money |
Close and List Website |
www.CloseandListFunding.com |
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Close & List Funding DEAL CRITERIA SHEET
Close & List Funding is a short-term funding program that provides 100% financing for borrowers to purchase deeply discounted, non-value-add single-family properties. Designed to facilitate quick resales, the loan operates on a 120-day term with a tiered fee structure depending on loan duration. Eligibility requirements are centered around the deal, not the borrower. Property must be deeply discounted to qualify for funding. Borrowers are required to have an LLC. This type of funding is the first of its kind and was designed to help wholesalers and investors grow and scale their real estate business by removing the barriers and making capital more accessible.
PROPERTY TYPES
|
Single Family Home
Duplex
Triplex
Fourplex
|
PROPERTY CONDITION |
Must be vacant at closing--no tenants, no leasebacks No full gut rehabs
No tear downs
Retail condition properties OK
|
PROPERTY CRITERIA |
Must be off market (No active MLS deals)
Purchase price must be 60% of the ARV
OR 70% of the as -is value
Must have property under contract
Borrower must have photos/video of interior and exterior Property must be under contract in borrower’s LLC
|
LOAN TERM |
Up to 120 days |
UPFRONT COSTS |
Borrower will receive loan for 100% of purchase price
Borrower must cover their own closing costs
All other costs are paid at closing when property is resold
|
LOAN INTEREST (Tiered) |
0-45 days = 7 points
46-90 days= 9 points
91-120 days = 12 points
|
OTHER CRITERIA |
Property must be under contract
Property must be vacant at closing
Average DOM must be <60
|
BORROWER
REQUIREMENTS
|
Must have LLC in good standing
Sign personal guarantee
Real estate experience preferred (2+ deals closed)
|
BORROWER COSTS |
Closing Costs
Loan Fees & Interest
Earnest Money
Insurance
Lender Title Policy
|
We Do NOT lend in these States |
California New York
Oregon Colorado
Washington State
Rhode Island
Delaware
|
Repairs |
Borrowers may complete approved repairs at their own expense |