Loan Terms
Check our Loan Terms
- 3 points origination
- 9.5% for the first 2 months
- 12.99-15.50% for the next 4 months
- $999 Loan Application fees
- 5-10 days to close
- Basic loan terms subject to change based on market conditions
- First Liens Only
- Single-family, 2-4 unit, townhomes, etc.
- Our loans are made on the After-Repair Value (ARV)
- Hometown Capital Funding LLC reserves the right to adjust advance rate requirements as deemed necessary
- All appraisals will be based on After-Repair Value (ARV)
- Hometown Capital Management LLC will only order appraisals and they will be performed by a third-party appraiser.
- Borrower MUST provide a minimum 6-month insurance policy to be paid in full at closing
- Borrower’s insurance agent should provide a certificate of insurance or evidence of insurance, including invoice, to our processing department before closing
- Insurance premiums are to be paid in full at closing.
- Government issued ID
- SSN copy
- Filled out and signed Credit Application
- Filled out and signed Loan Request form
- Filled out and signed simplified Financial statement
- 2 months LATEST Bank Statements/Proof of Funds
- Recent credit report
- List of all real estate holdings
- LLC, LP or Corporation documents (if applicable)
- Property purchase agreement
- Assignment contract- if property is assigned to the borrower
- Property rehab Scope of Work
- Appraisal (ordered by Hometown Capital Management- Lender)
- Property insurance (to be obtained prior to closing)
- Flood Insurance (If required)
- Property Survey