This is due to the VA and FHA requirements, not ours.Īt this time we are only serving W2 employees or those working with retirement benefits who are under the age of 65. This product may be used for any purpose with one exception: a client may NOT use these funds as a down payment with a VA or FHA loan for a personal residence. This product is purely for the Profit-Driven investor. This is not the cheapest capital, and depending on the client or more importantly - the deal, it may not be a good fit. This loan must be a good fit and must set the client up for success. ![]() Some don't allow gap funding, while many Hard Money Lenders do (Happy to assist with the hard money if needed). Some lenders have seasoning requirements on funds, and many do not. In event there's no mentor to refer to, we suggest it be used as Gap Funding/ Skin in the Game. We don't always recommend new investors use this money for 100% financing and deprive themselves of the knowledge & underwriting available from a hard money lender or experienced private money lender - or alternatively, an experienced mentor to guide you through the numbers. Cash is deposited directly to the borrowers personal account typically in 5 to 7 business days with all documentation received necessary for processing. Because of it's unsecured nature, the proceeds can technically be used for virtually anything (Read further for 1 exception) It can be treated much like a line of credit except it is an Unsecured/Personal Cash Loan aka a Signature Loan. and should be treated as permanent funding for best results, and resides in the clients bank account unless at work on real estate/ other personal and or business projects. ![]() This is a personal loan based off of personal cash flow and personal credit of the applicant. While Hard Money Lenders, rental programs, and even deals are abundant in most markets around the country, true, 100% unsecured Gap Funding can be very hard to come by, and it is by far one of our most common requests (aside from "What is your interest rate") Gap Funding is, to many, one of the most sought after sources of capital among the Real Estate Investor community.
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