Escrowed Loans

ESCROWED LOANS

No income verification
No asset verification
No reserves checked
No upfront fees 
No Application fees
No real estate investment experience necessary
Payments are Escrowed
Background check is needed
Al loans are for LLC or Corporations
No foreign nationals at this moment
All non owner-occupied RE assets up to 4 units & Air B&B
We always provide preliminary terms upfront.  Request Preliminary terms/Submit a loan

 

New Construction Not available

 

(With ADVANCED CONSTRUCTION DRAWS)

  • 12 months Escrowed interest payments

  • $100K – $2mm loan amount

  • 100% of construction budget

  • ADVANCED construction draws upon close

  • Must own the land

  • Minimal/No cash due at closing (some instances even cash back at closing)

  • Up to 1-4 units

  • 8% to 12%

  • 2 to 3.75 Points

  • Min credit 600

  • No real estate investment experience necessary

  • No income verification

  • No asset verification

  • No reserve verification

  • No prepayment penalty

 

Fix and Flip

 

(ADVANCED REHAB DRAW SCHEDULE)

  • $100K – $2mm loan amount

  • Up to 90%, 100% rehab/construction

  • Up to 1-4 units

  • 8% to 12%

  • 2 to 3.5 Points

  • Min credit 680

  • ADVANCED rehab draw upon closing

  • 3 interest payments due at closing

  • Escrowed interest payments

  • No real estate investment experience necessary

  • No income verification

  • No asset verification

  • No reserve verification

  • No prepayment penalty

 

Rate & Term

 

(ReFi w/ ADVANCED REHAB DRAW SCHEDULE)

Do you own the property and need to rehab it?

Is your property HML ready to balloon?

  • $100K – $2mm loan amount

  • Up to 1-4 units

  • 8% to 12%

  • 2 to 3.5 Points

  • Min credit 700

  • 12 months Escrowed interest payments rolled into the loan.

  • Non owner-occupied investment properties only

  • No real estate investment experience necessary

  • No income verification

  • No asset verification

  • No reserve verification

  • No prepayment penalty

 

Cash-Out ReFi Not available

 

(Short Term or Long Term Rental Program)

  • $100K – $2mm loan amount

  • Up to 70-75% LTV

  • Up to 1-4 units

  • 8% to 12%

  • 2 to 3.5 Points

  • Min credit 700

  • No seasoning Required

  • No real estate investment experience necessary

  • No income verification

  • No asset verification

  • No reserve verification

  • No prepayment penalty on Short term

  • Escrowed interest payments

  • Optional rehab budget, ADVANCED rehab draws upon closing

  • Cash back must be for business purposes only

  • Non owner-occupied investment properties only

  • Long terms 3 year prepayment penalty

 

Long and Short Term Rental Financing 

 
  • Adjustable Rate Mortgage (ARM):  

  • $100K minimum loan amount

  • 3/1 ARM

  • 5/1 ARM

  • 10/1 ARM

  • 30 Year Fixed

  • 10 year INTEREST ONLY, No balloon, it auto rolls into 20 years fixed loan

  • No real estate investment experience necessary

  • No income verification

  • No asset verification

  • No reserve verification

  • Escrowed interest payments

  • Non-owner occupied investment properties only

  • $75K – $1mm loan amount

  • Up to 1-4 units

  • 8% to 12%

  • 2 to 3.5 Points

  • Min credit 700

  • Min DSCR 1.0x

  • Must be rent ready or have a tenant in place

  • We Required a lease agreement or income statements

  • 3 years prepayment penalty

 

Documents needed:

 
  • Photo ID’s of all members of Entity or Corp.
  •  Purchase and sale agreement with any addendums.

  • Track record/Experience of the investor
  • Loan Submission Form
  • Entity/Corp. docs
  • Signed Term Sheet/Estimate
  • Scope Of Work
  • Draw schedule template 
  • Background check
  • GC: Contractors docs
  • Insurance docs

What is a Rural property for us?

 

1- If there are no verifiable comps within 5 miles.

2- If the appraiser says the property as rural.

3- If the property is more than 10 acres.

4- If the area or community is 25% developed or less its a no go

If it meets all of them at the same time, then we will consider it a rural property and we can’t fund it.

 

What factors dictate the percentage, the interest and the points of a loan?

Your Credit, Your experience and the profitability of the deal.

 

*Points and interest are based on the investors experience.

Request preliminary terms or Submit a Loan NOW?

HOW TO CALCULATE THE MINIMUM LOAN REQUEST:

 

  • The minimum loan request is calculated by multiplying the purchase price by the LTV. 
 
  • $100k x 75% LTV is $75k. This loan doesn't meet our minimum loan request of $100k.


Disclosures:

By attending this website (www.expediahomes.com), any visitor is hereby expressing and/or accepting: 

This is not a commitment or offer to lend, buy or sell any securities. This website is for informational purposes only.  Interest Rates, Fees, and other important or minor details are subject to change based on market conditions, due diligence, and input by underwriting. If your project is approved, a formal loan commitment will be issued. Time frames for each portion of the process vary due to market conditions and other factors like third parties. By visiting this website, the visitors hereby agree on behalf of the visitor’s company / business entity along with sponsors, co-sponsors, officers, and/or investors, to hold harmless Expedia Homes,  LLC, www.expediahomes.com  LLC’s investors, employees, officers, and/or third party subcontractors in the closing of any transactions. Third party reports are ordered at on a cost plus review basis. Expedia homes, LLC cannot guarantee nor influence values, or other specific important and/or minor conclusions, along with the time frames to complete third party reports. Some projects require a project feasibility, and may or may not require traffic studies or other individual reports as required by specific subject property locations and market conditions. Expedia homes, LLC does not pay for third party reports, third party reports are billed via invoice that must be paid at presentation by the investor. Time is of the essence, and even though Expedia homes, LLC works tirelessly to maintain quick closing times, there are factors outside of the control of Expedia homes, LLC, along with other conditions, that do not always allow the projected time frames to be maintained.  Brokers and, or referral sources are protected, thus Expedia homes, LLC honors Broker Invoices or Referral Fee Agreements that are submitted in writing. Expedia homes, LLC only accepts new client files from brokers, if you have a further transaction, please see your introducing representative. Expedia homes, LLC  uses a private source of capital, therefore your information will not be shared with the general public on any marketing information. 

Expedia Homes, LLC is a limited liability company out of the State of Texas. Expedia Homes, LLC indirectly provides funds and also brokers requests that cannot be funded in house. Expedia Homes, LLC does not operate in any state or local area whereas the laws of that state or local are prohibit cost effective operations. Expedia Homes, LLC is a private company, not open for the public. Expedia Homes, LLC does its best to analyze and review all proposed transactions, but cannot possibly analyze, review, and take interest in all transactions that are presented. Rates, Fees, and other minor or important details are subject to change with or with out notice. No warranties are granted, nor should be implied. 

This page is intended to be used as an outline for discussion purposes only and relies upon, amongst other things, the accuracy of  the information entered by the applicant. All loan requests are subject to a full underwriting and due diligence review upon the submission of a complete loan file from the applicant, and the proposed terms and conditions may change based on the results of this review. Nothing herein represents a commitment, agreement, or obligation from Expedia Homes, LLC to lend money under these or any other terms.

 The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

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