We have been successfully closing these transactions in CO for the past 15 years and are excited to roll it out to our CA investors. Maybe this can open the doors for some additional investors.
Basically investors are able to purchase a home using a hard money lender. We are then able to refinance that hard money loan into permanent financing into a 30 year fixed loan. The niche is that we have no seasoning requirements and we will allow the use of the ARV vs. the purchase price.
For example:
$100,000 purchase price
The property needs $25K in rehab
Our hard money partners will loan the $125,000
Once the rehab is complete we will refinance immediately into the permanent financing.
Now, assume the ARV of the property is is approximately $170,000.
We will finance up to 75% of the $170,000 to pay off the hard money lender.
Essentially your investors will be able to purchase and hold these properties with minimal down, or many cases without a down payment at all!
We will allow up to 10 financed properties.
Your investors will be looking at 30 year fixed loans .
We underwrite and portfolio this program in house.
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OUR MISSION
Denver Mortgage Company is dedicated to helping our clients achieve their goals. Working together, we will build ourselves rewarding careers, and valuable, profitable businesses.
