BanCorp Real Estate Group has become the first to release a 90% loan-to-value, No Income Verification, No FICO Score Mortgage for property flippers in Southern California. This means investors from Los Angeles County, San Bernardino County and San Diego County will be able to benefit from this interest only rate loan.
It’s been presented as the perfect bridge loan for investors and property flippers as there with no junk fees and no prepayment penalties amortized over 30 or 40 years due in 12 months. Rates for this interest only rate loan begin at 8.5%, meaning there’s little better source of financing available on the open market for so-called “Flip Investors.” BanCorp only requires a previous demonstrated track record for flipping properties.
BanCorp Realty is one of the fastest-growing real estate agencies in Southern California and you can find more information on this company at BanCorpRealty.com. Any professionals who would like to join this team should visit the “Join BanCorp” section. A professional deciding to get on board with BanCorp Realty will find they have access to BanCorp projects and that this financing source will run through to the fourth quarter of 2015 at this higher LTV limit. Management would also be extremely interested in speaking with any Southern California real estate professionals with higher integrity and who believe they would bring a value added to BanCorp Realty.
At the moment Bancorp is in the process of building out its presence in South Orange County and is aggressively seeking to secure high quality real estate professional in other selected regions in Southern California. any real estate professional who would like to have access to the special mortgage/financing program or who is simply interested in joining a dynamic real estate agency should contact Bancorp today on (800) 936-BANC. BanCorp is able to buy and sell Southern California real estate faster than anyone else, and this is why BanCopr trademarked easier and fasterTM. By getting clients in and out of real estate transactions more quickly BanCorp allows them to begin building short term equity and wealth faster. This directly benefits the client in the short and long term.
Highlights of the program include:
- Up to 90%
- Up to $1mm
- Rates from 8.5%
- 12 month term
- Amortized 1/30 1/40
- No fund control for repairs