FBC Funding currently provides a 100% Fix and Flip loan in 18 states.  Whether it’s financing the flip of home Texas or financing the rehab of a multifamily apartment building in downtown Atlanta, FBC Funding is here to help investors.

As a national hard money lender FBC Funding funds deals in more than 40 states. With our updated and improved 100% Fix and Flip loan we can help many more new and experienced investors in theses 18 states. The states we fund the 100% fix and flip loan in include:

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Are you looking for an asset based quick close bridge loan program that can close in five to ten days with no appraisal, no credit report, no lengthy due diligence and no red tape? Our Quick Close Bridge Loan Program may be for you. We prefer cash flowing rental properties with DSCR 1.25%. Our program is an Asset Based Quick Close Bridge Loan for stabilized rental properties.

Quick Close Bridge Loan Overview

We put our borrower’s needs first. We care about what you care about. Contact us to find out more.

• Loan Amount:                    $100,000 – $3,000,000

The post Quick Close Bridge Loan Program appeared first on FBC Funding.

Below are options for matured fix and flip loans with the basic parameters for FBC Funding to finance matured fix and fix loans.

Mature Fix and Flip Loans

Matured Fix and Flip Loans Options

Refinance Matured Fix and Flip Loans:

FBC Funding can refinance matured fix and flip loans up to 80% of the as is value offering 100% of rehab up to 75% of the after rehab value. This program also allows for closing costs and mortgage payments to be rolled into the loan so the investor can focus on completing their project. The program also allows for advanced draws for the more experienced investors with rates as low as 10% and credit scores as low as 620. The terms of the loan are based on experience, credit and property location.  Apply Now

Bridge Matured Fix and Flip Loans:

For real estate investor who have substantially completed the renovations on their properties with matured fix and flip loan FBC Funding offers Bridge loan financing up to 80% of the as is value for rate and term refinances and up to 65% for cash out. Bridge loans are short term financing with no prepayment penalty. This is especially helpful for real estate investors who are looking to sell their investment property and the current lender will not extend the matured fix and flip loan.  These bridge loans will allow for closing costs and payments to be rolled into the loans as well.  Apply Now

DSCR Rental Matured Fix and Flip Loans

Similar to the bridge loans DSCR Rental Loans are for real estate investors who have substantially completed the renovations on their investment properties with a matured fix and flip loan but want long term financing.  FBC Funding will offer up to 80% financing for return of their investment or 75% cash out. Our DSCR Long term rental loans have many options.  Apply Now

Matured Construction Loan Financing

New Construction Financing

Even if you loan is a new construction loan that has matured versus a Matured Fix and Flip Loan we can a construction loan refinance, fix and flip refinance, bridge refinance or a rental loan refinance just like the matured fix and flip loan. So as a real estate investor whose loan has matured FBC Funding is unique, because most lenders will not offer any options to refinance the matured loans.  Apply Now

For more information call 888-848-3114

click here to schedule an appointment to discuss options

email info@fbcfunding.com

or Apply Now

The post Matured Fix and Flip Loans: Yes We Can appeared first on FBC Funding.

In the dynamic world of real estate finance, loan officers, bankers, and realtors are constantly seeking efficient and reliable solutions for their clients’ diverse needs. One such solution, often overlooked, is the referral of hard money loans to specialized lenders like FBC Funding. This article delves into why these professionals should consider referring hard money loans to FBC Funding as a go-to resource, especially with the added benefit of earning through referrals.

Understanding Hard Money Loans:

Hard money loans are a type of financing used in real estate transactions for real estate investors, where the loan is secured by the property itself. Known for their speed, flexibility, and less stringent underwriting processes compared to traditional bank loans, they offer a unique opportunity for professionals in the field. Additionally, many hard monel loan programs offered through FBC Funding are not offered through banks and convention lenders.

Referring Hard Money Loans to FBC Funding – Speed and Efficiency:

Time is a critical factor in real estate. FBC Funding’s hard money loans are known for their rapid processing, enabling clients to close deals swiftly. This efficiency is invaluable in scenarios with tight deadlines or competitive bidding.

Referring Hard Money Loans to FBC Funding – Flexibility in Underwriting:

FBC Funding’s flexible underwriting approach accommodates a wide range of borrowers, including those with unique circumstances or credit challenges. This inclusivity opens doors for clients who might struggle with traditional financing routes.

Referring Hard Money Loans to FBC Funding – Strengthening Client Relationships:

Referring clients to FBC Funding can enhance your professional relationships. It demonstrates your commitment to providing tailored solutions, thereby reinforcing your role as a versatile and client-focused expert.

Referring Hard Money Loans to FBC Funding – Potential for Repeat Business:

Clients satisfied with their hard money loan experience are likely to return for future needs, potentially increasing your repeat business and referrals.

Referring Hard Money Loans to FBC Funding – Expanding Your Network:

Working with FBC Funding can broaden your professional network, leading to reciprocal referrals and mutually beneficial relationships.

Referring Hard Money Loans to FBC Funding – Educational Opportunities:

Partnering with FBC Funding offers a chance to deepen your understanding of alternative financing, enhancing your ability to advise clients effectively.

Referring Hard Money Loans to FBC Funding – Earning Through Referrals:

A key advantage of referring clients to FBC Funding is the opportunity to earn as a referral partner. Loan officers, realtors, and bankers can benefit financially from these referrals, creating an additional revenue stream while providing valuable services to their clients. This incentive not only rewards professionals for their referrals but also aligns their interests with providing the best possible solutions for their clients.

Referring Hard Money Loans to FBC Funding – Programs Offered:

FBC Funding offers multiple hard money and alternate loan funding program types with many options within a program type. Programs include:

• Fix and Flip – New Investors – 100% Financing – No Appraisal Options – Fix and Flip Credit Facilities
• DSCR Rental  – No Income – No Seasoning Refinance BRRRR – Single or Portfolio
• Bridge Loans – Up to 80% Purchase – 75% Cash Out – Stabilized or Not – 6 months to 5 years
• Ground Up Construction – Up to 100% Construction – Up to 75% of Land Purchase up to 90% Loan to Cost
• Multifamily 5 Units or More

Conclusion:

Referring hard money loans to FBC Funding is a multifaceted opportunity. It’s not just about offering an alternative financing option; it’s about enhancing your service portfolio, strengthening client relationships, expanding your network, and benefiting financially through the referral program. FBC Funding stands as a partner in success, offering more than just loans – they offer a partnership that rewards and supports your professional growth.

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Fast Close Fix and Flip Loans: Borrower Be Prepared – ID

Every Lender will verify who you are.

If you are closing as and Limited Liability Company you will need these documents.

• Articles of Organization: the original documents you received from the state when you filed to start your LLC
• Operating Agreement: this document spells out who are the members and managers of the LLC and what authority these individuals have. Specifically the power to borrow money in the name of and obligating the LLC.
• Certificate of Good Standing: Not all programs require this but when they do they must be within 90 days of closing the loan.
• EIN Certification. Tax Identification number as presented on the SS4 form from the IRS. This form is required in all programs.
• Foreign entity Registration. If your entity was formed outside of the state you are investing in, you may be required to register your company. This registration, needs to be renewed annually.

If you are closing as a corporation you will need these documents.

• Articles of Incorporation: the original documents you received from the state when you filed to start your LLC
• Corporate By-Laws: this document spells out who are the members and managers of the LLC and what authority these individuals have. Specifically the power to borrow money in the name of and obligating the LLC.
• Certificate of Good Standing: Not all programs require this but when they do they must be within 90 days of closing the loan.
• EIN Certification: Tax Identification number as presented on the SS4 form from the IRS. This form is required in all programs.
• Foreign Entity Registration: If your entity was formed outside of the state you are investing in, you may be required to register your company. This registration, needs to be renewed annually.

Additionally, you need to Identify the Guarantor.

• Current State Issued Drivers License or State Identification Card
• Green Card if the Guarantor is a permanent resident alien

Fast Close Fix and Flip Loans: Borrower be Prepared – Experience

Experience is a very important underwriting factor for fix and flip loan programs. To be prepared and ready to close fast, have your track record prepared.

Your track record should list the following information:

• Every fix and flip project completed in the last 5 years including; address, date of purchase, purchase price, property type (number of units), cost of renovation, sale price and date of sale.
• Every ground up construction project completed in the last 5 years including; address, date of purchase, purchase price, property type (number of units), construction start date, cost of construction, sales price and sale date.
• Every Rental property currently owned including; address, date of purchase, purchase price, property type (number of units), renovation costs, current value, gross rental income, taxes and insurance, net rental income.

The best way to do this is to keep a track record on your computer and update it as you complete a project.

Fast Close Fix and Flip Loans: Borrower be Prepared – Assets

Most fast close fix and flip loans require verification of assets. The lender needs to confirm funds for down payment, closing costs and reserves. To verify this the underwriter needs the last 2 months bank statements and verification of the last 2 months of any other liquid assets including retirement funds. Some programs do not verify assets, some only need the last month. The purpose of this article is to help you be prepared for fast close fix and flip loans. Therefore you should always have your asset documentation available.

Fast Close Fix and Flip Loans: Borrower be Prepared – Detailed Scope Of Work

Of all the items to have prepared for fast close fix and flip loans having the scope of work submitted to the lender in a timely fashion causes the most delay. The delay happens because most often the detailed scope of work is completed by the contractor, not the borrower. The contractor often delays in getting the detailed scope of work done for a number of reasons, one is they are busy with other projects. It is essential to have the contractor or a project manager walk the project with you prior to submitting an offer to purchase to get a repair budget and then immediately submit a detailed scope of work as soon as offer is accepted. Impress upon the contractor the importance of getting the detailed scope of work back quickly. You need to let them know this is a condition of them getting the contract. I also want to emphasize that the scope of work must be detailed with an explanation of what is specifically being done. Again this is necessary to ensure we get a good after repair value. For instance there is a big difference in cost and value to marble counter tops versus vinyl counter tops.

The item that takes the longest to process in a Fast Close is the appraisal. The appraisal can not be ordered without the detailed scope of work. Even if the loan qualifies for the no appraisal option the detailed scope of work is necessary for a desktop valuation so the lender knows the after repair value and they will also determine if the budget is in line with the work to be done. One of the main reasons projects fail is the investor underestimated the cost of the work to be done. The underwriter will access the rehab budget to ensure the costs are inline with the work being done.  So whatever you do it is imperative to have the detailed scope of work prepared and submitted as soon as you have an accepted purchase agreement to ensure a fast close.

Fast Close Fix and Flip Loans: Borrower be Prepared – General Contractor Approval

Some programs require the general contractor be approved prior to closing. As a part of  fast close fix and flip loans you want to have the documents on hand to have your General contractor approved. The general documents required are as follows:

• Current General Contractor License
• Current General Contractor Liability Insurance
• Current General Contractors Worker Compensation insurance (if they have employees)
• List of recent projects completed (at least 3) including address, date completed and approximate dollar value of the scope of work.

These are things that are sometimes needed for the lender to vet the contractor, but you should request these as you vet the contractor. Additionally you should check the better business bureau and local government agencies for complaints against the contractors you choose.

Fast Close Fix and Flip Loans: Borrower be Prepared – Conclusion

Whether you have applied for or are looking to apply for 10 day fast close fix and flip loans. You should be prepared if you are doing this as a business. This will save you time and money.

FBC Funding has multiple programs that offer 10 day fast close fix and flip loans. Additionally, we offer programs that offer that may not close in 10 days but could in 15. The key is the borrower is prepared. To be prepared a borrower needs; Entity documents, ID, Assets, Experience, Detailed Scope of Work, and GC Approval. This will help your loan close quickly. These documents should be forwarded to lender upon pre approval or at the latest when you have an accepted contract offer. Do not wait until the review period is over to begin to process your loan. Begin the process as soon as possible. The clock starts on a purchase agreement the day the offer is accepted. The clock starts on the lender closing a loan when they receive the requested documents. Make sure they are the same day.

For more information on fast close fix and flip loans call 888-848-3114, email info@fbcfunding.com or click here to schedule a free loan consultation.

The post Fast Close Fix and Flip Loans – Be Prepared appeared first on FBC Funding.

In the caffeine-fueled world of real estate investing, asset-based hard money loans through a private lender is like your favorite espresso shot: strong, fast-acting, and gets the job done. In contrast, institutional hard money loans are more like that regular drip coffee — reliable but sometimes you’re you need a little more buzz. Institutional hard money loans are more often than not the go to product for real estate investors, but sometimes we need the special benefits of an asset based hard money loan.

Benefits of Asset Based Hard Money Loans

1. Speedy Gonzalez Approvals Private lenders often move faster than a squirrel on an espresso run. Why? They focus on collateral (your asset) rather than your credit score or income history. This is great for when you’re in a rush to close a deal, and let’s face it, in real estate, who isn’t?
2. Flexibility Yoga Private lenders are like yoga instructors for finance. They’re flexible. Need a unique loan structure or have a quirky investment scenario? No problem. Private lenders often have the freedom to tailor loans, unlike the fit in the box approach of institutional lenders.
3. Less Red Tape, More Red-Carpet Institutions have layers of guidelines. Private lenders, however, often offer a red-carpet experience with fewer hoops to jump through. This means less time spent on paperwork and more on what matters: your investment.
4. Relationship Goals Working with a private lender can be like starting a new friendship. They often take the time to understand your investment strategy and goals, offering personalized service. Institutions, on the other hand, might treat you more like a number in a queue.
5. Creative Solutions for Creative Minds In the world of real estate, creativity is key. Private lenders are often willing to look at the big picture and find creative financing solutions, especially for projects that may not fit the traditional mold.

Draw Backs of Asset Based Hard Money Loans

1. Higher Costs Higher risks equal higher rates, points and fees sometimes, not always.
2. Lower LTVs Private lenders offering Asset Based Hard Money Loans are focused on the collateral for their primary decision. As such to be secure they will typically lend less based on the value of the property, sometimes.
3. Limited Funds Private Money Lenders do not have the resources of institutional Hard Money Lenders.  That is why it is not uncommon for them to be temporarily out of funds.

In Summary: Choosing between asset based hard money loans and institutional hard money loans is like picking between a speedboat and a cruise ship. Both will get you there, but if you’re looking for speed, flexibility, and personalized service, the speedboat (aka private lender) might be your best bet.

Remember, the best choice depends on your specific needs and investment strategy. And there you have it! A glimpse into the fast-paced world of asset-based hard money loans. Now, go forth and invest wisely!

To Learn More about asset based hard money loans Contact FBC Funding

888-848-3114

louisj@fbcfunding.com

or click here to schedule a free loan consultation

The post Asset Based Hard Money Loans appeared first on FBC Funding.

FBC FUNDING offers multiple True Hard Money Loans. Each Loan has different guidelines and here are three of the programs and guidelines.

What is a True Hard Money Loan

A True Hard Money Loan is a business purpose asset based loan.  A True Hard Money Loan is based a few factors.  The first factor is the as is value of the real estate being used as collateral. The second factor based on importance, is the current cash flow of the collateral. This is followed by the credit profile and the potential future value and future cash flow of the collateral. The True Hard Money Loan places most or all emphasis on the current value and current cash flow, with little emphasis on future value, future cash flow and  borrower credit profile. Because these are riskier loans the loan to values are lower and the costs are higher. Here are guidelines for three of our True Hard Money Loan Programs.

True Hard Money Loan 1 – Business Purpose Loan

• Repayment:
  • Interest Only – for 36 months
  • Amortizing – over 36 months
  • Hybrid – interest only for 6 months the amortized over 48 moths but due in 36 (will have a 55% of principal balance due)
• Loan Term: Up to 36  months
• Pre-Payment: 12 months of interest payments
• Minimum Loan: $200,000
• Maximum Loan: $2,000,000
• Payment Frequency: Weekly (similar to MCA)
• Minimum Credit Score: 475
• Minimum Time in Business: 1 year
• Rate: Up to 36%
• Max LTV First Mortgage:
  • Residential 65% to 75%
  • Commercial 65% to 75%
  • Industrial 60% to 70%
  • Land 25% – 50%
• Max CLTV Second Mortgage:
  • Residential 60% to 70%
  • Commercial  60% to 70%
  • Industrial 50% to 60%
• Advantages:
  • All property types considered
  • Higher LTVs less closing costs equal more cash in pocket
  • Second mortgages considered
  • quick close
  • Owner Occupied property considered if used for business
• Disadvantages:
  • Higher interest rate factor and payment
  • Weekly Payments
• Docs Needed:
  • Schedule of REO
  • Last 3 Bank Statements
  • Application

True Hard Money Loan 2 – Residential and Commercial Property Loan

• Purchase or Refinance
• Loan Term: 12 to 24 Months
• Seller Carry to 100% CLTV – OK
• 50-55% LTV for Commercial Properties
• 60% LTV for Residential Properties
• Any Credit Score Qualifies
• We Require the Property to be in a Population of 35k+
• Minimum Loan $200,000
• $15 Million on Good, Clean Properties
• $3 Million Maximum on all Others
• Rates 14% and up
• Points 5% and up
• Advantages:
  • Residential and Commercial
  • Purchase and Refinance
  • 100% CLTV
  • Larger Loan Amounts
  • Lower Rates
• Disadvantages:
  • Lower LTVs
  • Higher Fees which reduce cash in hand
• Docs needed:
  • Application
  • Schedule of REO

True Hard Money Loan 3 – Residential Loan

• Loan Term: 12 to 240 months
• 75% LTV for Residential Properties
• UP to 65% ARV
• Any Credit Score Qualifies
• Minimum Loan $50,000
• $1 Million Maximum on all Others
• BPO only
• Rates 14% and up
• Points 5% and up
• Advantages:
  • Residential, Commercial, Mobile Homes and Land
  • Purchase and Refinance
  • Smaller Loan Amounts
  • Quick Close
• Disadvantages:
  • Lower LTVs
  • Higher Fees which reduce cash in hand or out of pocket
• Docs needed:
  • Application
  • Schedule of REO

For More information about a true hard money loan and how it can be used in your financing goals

call 888-848-3114

or click here to schedule a free loan consultation.

The post TRUE HARD MONEY LOAN GUIDELINES appeared first on FBC Funding.

Bridge Loans for Multifamily Properties

Bridge Loans for Multifamily Properties may be a great option for real estate investors looking for short term funding to meet their financial goals. A bridge loan is a short-term loan that is used to finance a real estate transaction while the borrower is waiting to close on a permanent loan for looking to sell the property in less than 3 years.  Bridge loans for multifamily properties are used for a variety of purposes, including but not limited to:

• Purchasing an apartment building. Bridge loans can be used to bridge the gap between the time a borrower makes an offer on an apartment building and the time the property would qualify permanent financing closes. This can be helpful if the borrower needs to close on the property quickly, but it would take longer to qualify and close on a permanent financing funding option.
• Refinancing construction debt. Bridge loans can be used to refinance construction debt during a property’s lease-up phase. A property does not qualify for permanent financing until it is stabilized for at least 90 days. This can also be helpful if the borrower needs to lower their monthly payments while the property is still filling up with tenants. Bridge loans are generally interest only payments.
• Financing renovations or other major capital improvements. Bridge loans can be used to finance renovations or other major capital improvements at a property. This can be helpful if the borrower needs to make improvements to the property before they lease them or qualify for permanent financing.

Bridge Loans for Multifamily Properties typically have shorter terms and higher interest rates than permanent loans. However, they can be a valuable tool for borrowers who need to close on a real estate transaction quickly or who need to finance renovations or other major capital improvements and have interim financing until the property and or the sponsor would qualify for permanent financing or sell the property.

Here are some of the key features of bridge loans for multifamily properties:

• Short-term loans. Bridge loans typically have terms of one to three years.
• Higher interest rates. Bridge loans typically have higher interest rates than permanent loans.
• Less stringent lending requirements. Bridge loans may have less stringent lending requirements than permanent loans, making them easier to qualify for.
• Quick closings. Bridge loans can often close quickly, which can be helpful for borrowers who need to close on a real estate transaction quickly.

If you are considering a bridge loan for a multifamily property, it is important to carefully consider your needs and options. Bridge loans can be a valuable tool, but they are not right for every situation. You should work with a qualified lender to discuss your specific situation and determine if a bridge loan is the right choice for you.

FBC Funding offers Bridge Loans for Multifamily Properties including 2-4 unit multifamily properties and 5 or more unit multifamily properties. FBC Funding will also offer the Bridge Loan for Multifamily Properties on mixed use properties that may have a commercial  component, such as retail, office space or warehouse. For more information call 888-848-3114 or

 Click here to schedule a free loan consultation to determine if Bridge loans for Multifamily Properties   are the best option for you.

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FBC Funding has True Hard Money Loan Options.  We can facilitate funding True Hard Money Loan options. True Hard Money loans are pure asset based lending with little or no requirements based on the borrowers credit, experience, or liquid assets. These loans are based primarily on the equity of the real estate as collateral for the loan. If you have a property with a lot of equity there is a good chance we can get funding for you.

True Hard Money Loan Options

Here are some reasons borrowers choose True Hard Money Loans even with higher rates and points.

• Foreclosure Bailout
• Maturity Bailout
• Construction Bailout
• 100% Purchase CLTV (seller second mortgage)
• Non Cash Flowing Property
• Poor Credit – Great Property
• IRS
• Creative Financing
• ETC

True Hard Money Loans Are Risky Business

Lenders who fund True Hard Money Loan Options are taking a big risk. By funding deals for borrowers who have poor credit it is a greater risk. By funding deals for borrowers with little or no recent and similar experience it is a greater risk. By funding deals for borrowers with little or no verifiable, sourced or seasoned funds it is a greater risk. Any one of these factors would be a reason why an institutional Hard Money Lender would not fund these deals. Many deals have many if not all of these negative factors and they may still get funded based on the collateral type and the equity in that collateral. Because these are extremely risky loans, they are more expensive. Higher rates, higher points and higher fees are usual for True Hard Money Loan Options.

True Hard Money Loan Options Qualifications  

The qualifications are simple. The collateral makes the deal. The property type, the property condition, and the loan to value (LTV) are the primary qualifications. A secondary qualification is the exit strategy. Contrary to popular belief most True Hard Money Lenders do not want the collateral. Yes every deal must have very good equity and be an extremely marketable property. That is only because the these are very risky investments and the lender needs to protect their funds.

• ACCEPTABLE PROPERTY TYPES INCLUDE: Residential 1-4 unit properties, Residential Multifamily 5+ unit properties, Mixed Use properties, Office, Retail, Warehouse and light industrial properties. Each loan is made on a case by case basis with an understanding that the viability and marketability of the collateral determines the deal. As such our true hard money programs will accept these and other property types (except vacant land) but will take a close look at the property and base their funding on the quick sale as is value of the property. The maximum loan to value is 65% for Residential 1-4 unit properties and Residential Multifamily 5+ unit properties, 60% for Warehouse and Mixed Use properties and case by case on all other property types.
• Acceptable Exit Strategies Include:   Renovate and Refinance or Sell but there must be a believable verifiable plan to accomplish what your goal is. Lender will determine if it your exit strategy is viable.

These are the only 2 qualifying factors. Is you property acceptable and does the borrower have a viable exit strategy. Beside that the lender will assess the risk and the LTV offered as well as points and fees will be dictated by the risk.

True Hard Money Loan Options Costs

As a minimum expect to pay an interest rate of at least 12% to 15% or higher. As a minimum expect to pay points of 6% to 10%. Expect to pay for title, appraisal (or BPO) processing, underwriting and closing fees. On refinances, other than the appraisal fee, many of these fees can be rolled into the loan up to the maximum LTV. An Interest reserve escrow can sometimes be added to the loan up to the maximum LTV.

FBC Funding can facilitate True Hard Money Funding for the right property with a viable exit strategy. For the lender the return and LTV must equal the risk. For the borrower the higher cost must be financially worth the loan. If this is the case, call 888-848-3114

or

click here to schedule a free loan consultation

The post True Hard Money Loan Options appeared first on FBC Funding.

WHY NMLS Licensed MLO Originators Should Partner with FBC Funding

Most NMLS Licensed MLO Originators do not offer Residential and Multifamily DSCR Rental Loans for Investors, Residential and Multifamily Rehab Loans for Investors (Hard Money Loans),  Residential or Multifamily Ground Up / New Construction loans, or Multifamily and Mixed Use Bridge or  Long Term loans for Commercial Properties. Because these are all business purpose loans, there is not a conflict of interest and most NMLS licensed lenders do not offer these products. Therefore, NMLS licensed MLO originators can better serve their investor clients with an expanded product line and make additional money doing so.

How NMLS Licensed MLO Originators could Partner with FBC Funding

There are three ways a NMLS Licensed MLO Originators can partner with FBC Funding. They can be FBC Funding Referral Agents, FBC Funding Loan Officers, or FBC Funding Approved Loan Brokers.

• FBC Funding Referral Agent: A FBC Funding Referral Agent will simply refer a borrower to FBC Funding by providing their name, phone number and email address plus a short description of what the borrower wants to do. At that point an FBC Funding Loan Officer will call the borrower and confirm what they want to do. Then the Loan Officer will originate the loan. Once the loan closes the FBC Funding Referral Agent will receive 25 basis points just for referring a borrower. The FBC Funding Referral Agent is also eligible for monthly volume bonuses of up to an additional .25 basis points.
• FBC Funding Loan Officer: A FBC Funding Loan Officer will Originate the loan. They will prospect, build referral relationships, and maybe get leads to originate. The FBC Funding Loan Officer will prequalify the borrower, present and sell the best product for the client, help them complete the application, collect the required initial loan documents, and make sure the borrower pays for the appraisal. At that point processing takes over. The loan officer is paid from 40% commission to 60% commission depending monthly volume and experience level.
• FBC Funding Approved Broker: The FBC Funding Approved Broker does everything the Loan Officer does but is paid by the borrower by providing a signed broker agreement to charge the borrower up to 2 points Broker fee. The Approved broker will be paid directly on the HUD from the title company.

Whichever way the NMLS Licensed MLO Originator chooses to Partner with FBC Funding, they greatly improve their product offerings for their residential and commercial real estate investors and make substantially more money by doing so. For more information on programs and products offered by FBC Funding, go to our website at rehablender.net You can also click here to schedule a call with FBC Funding. Or call 888-848-3114 and ask for Louis.

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