BENEFITS
Directly receive monthly payments.
1st lien position loans secured on AZ. DOT titles.
Well secured, with a minimum of 35% appraised equity.
Homes (loan security) located in four star Arizona communities.
Receive a fully documented loan package for each loan investment
RATE & TERMS Loan term
60 - 120 months amortization
Loan to value/purchase maximum loan, 65% of appraised market value
Loan to value/refinance maximum loan, 60% of appraised market value
Interest rates 12% to 15%
Fees
none, borrower pays
COMMUNITY TYPES
Fifty five plus: mostly retired, fixed income borrowers, many
amenities.
Resort: all ages but typically 55+, primarily 2nd
homes with sport amenities.
INVESTOR LOAN PACKAGE TO INCLUDE
Executed application
Income verifications: statements for: S.S./pension/checking account(s)
Credit report
Promissory note
New title(s) with investor's entity shown as lien holder
Copy of community lease agreement
Copy of driver's license(s)
Approved chattel appraisal
If a refinance loan, items that were paid off
If a purchase loan, a copy of the purchase agreement
Evidence of home insurance with investor's entity named as mortgagee
Truth In Lending statement
