Houses_Cleveland_Ohio

440-209-1563

davidhelmick@gmail.com
 

 

Get Financing to Buy and Improve Foreclosure Properties

Do you need financing to buy investment properties? Look no further. These programs can provide you with financing designed for property investors. For investors that plan to make improvements, our financing preserves your available capital for repairs and rehabilitation of the property.

Qualifying is simple and the entire loan process is fast. Currently the only requirement to qualify for our financing is the 35% down payment (minimum Down payment $5,000) and an initial loan balance of at least $5000. We do not check credit verify income, or require a property inspection. We charge a loan set up fee that is in addition to our standard transaction fees. Please ask your sales agent for current interest rates, and payment details.

Short-term Affordable Home Improvement Financing: (Basic overview, terms vary)

·         35% down

·         No application or credit check

·         3, 6, 9, and 12 month terms

·         Upfront points can be financed

·         Assurance and Title Fees cannot be financed

·         Equal monthly interest and principal payments required

·         For purchases of more than one property with financing cross default provisions are required.

For example, on a $30,000 purchase, you would make a $10,500 down payment and would pay the remaining $19,500, along with interest and points, over a period of up to twelve months. Assuming a $595 Transaction Fee and a $995 Loan Set up Fee, the monthly payment for this loan will be $2,011. During that time, you would make necessary improvements and then either resell the property or refinance with a traditional mortgage and rent it.

 

 

 

 

 

 

Long-term Affordable Home Improvement Financing: (Basic overview, terms vary)

·         35% down

·         No application or credit check

·         36 month amortization with 1 year balloon

·         Upfront points can be financed

·         Assurance and Title Fees cannot be financed

·         Equal monthly interest and principal payments required

·         For purchases of more than one property with financing cross default provisions are required.

For example, on a $30,000 purchase, you would make a $10,500 down payment and would pay the remaining $19,500, along with interest and points, over a period of 1 year. Assuming a $595 Transaction Fee and a $995 Loan Set up Fee, the monthly payment for this loan will be $785. The balloon payment owed at the end of 12 months will be $15,730.43. During that time, you would make necessary improvements and then either resell the property or refinance with a traditional mortgage and rent it.

 

 

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We use outside sources for most of our funding, due to market conditions.

(For lower down payments a full application may be required.)

 

Please Call to discuss:

David Helmick

davidhelmick@gmail.com

440-209-1563

 

www.housesclevelandohio.com LLC

Parent:  Helmick and Associates