FREQUENTLY ASKED QUESTIONS

We have compiled a list of frequently asked questions in an effort to save you both time and energy in submitting your loan.

Reviewing these questions and answers, will certainly allow you to have a better understanding on whether your loan submission has a chance of a preliminary approval.

1. What states do you lend in?
2. What loan product do you specialize in?
3. Do you have Pre-Payment Penalties?
4. Can I hold title in a corporation, LLC or Trust?
5. Will you roll the costs of the loan into the loan?
6. Do I have to prequalify every time I do a loan with Zinc Financial, LLC?
7. Do you offer discount pricing for return borrowers?
8. How do I pre-qualify for a loan?
9. Do you lend on primary residence (Primary 1-4 Residence) Properties?
10. Can I live in the property while I rehab it and get it ready to sell?
11. Can your Rehab funding take 2nd position?
12. If I already own the property and I want to Rehab it for resell, will you refinance it?
13. What are your lending limits?
14. Do you offer 100% financing for Investor Rehab if I find a really good deal?
15. Do you offer 2nd and 3rd position loans?
16. Do you offer full construction financing?
17. You're an equity based lender, so your primary focus is on the equity in the property correct?
18. What value do you loan up to?
19. Do you determine the value of the property off of the appraisal?
20. Are you a direct lender or do you just broker to investors?
21. What are your fees?
22. What properties do you lend on?
23. Are there any properties you do not lend on?
24. What is your minimum Credit Score (FICO)?
25. Do you do foreclosure or N.O.D. bailouts?
26. What income requirements do you have?
27. What are your Debt to Income Requirements?
28. What debt coverage ratio do you require for income producing properties?
29. How soon can I expect a preliminary approval from ZINC?
30. Do you require any up front fees?
31. How soon can I expect funding from ZINC?
32. What fees can the broker charge?
33. Do you require the borrower to use a 3rd party escrow chosen by the lender?
34. Do you ever speak with the borrower directly?
35. What do you require to submit a loan?

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1. What states do you lend in?

California, Arizona, and Nevada
2. What loan product do you specialize in?

We specialize in non owner investor rehab where the borrower secures properties at a steep discount, rehabs the property, and re sells it at a substantial profit usually within 3-6 months. More can be found in our investor rehab section.
3. Do you have Pre-Payment Penalties?

No, there is never a pre-payment penalty.
4. Can I hold title in a corporation, LLC or Trust?

Yes, but we do require personal guarantees from the principles.
5. Will you roll the costs of the loan into the loan?

Yes
6. Do I have to prequalify every time I do a loan with Zinc Financial, LLC?

No, after your 3rd loan, you are pre automatically pre qualified.
7. Do you offer discount pricing for return borrowers?

Yes, after the 3rd loan, your pricing will be reduced.
8. How do I pre-qualify for a loan?

Go to the apply now, fill out the application and hit send.
9. Do you lend on primary residence (Primary 1-4 Residence) Properties?

No, you can not live in the property we lend on.
10. Can I live in the property while I rehab it and get it ready to sell?

No
11. Can your Rehab funding take 2nd position?

Usually not, all of our investor rehab loans are 1st position.
12. If I already own the property and I want to Rehab it for resell, will you refinance it?

Yes
13. What are your lending limits?

$50,000 to $450,000
14. Do you offer 100% financing for Investor Rehab if I find a really good deal?

No, no matter how good the deal, the investor must home some skin in the game, in the form of hard cash. See our pricing matrix.
15. Do you offer 2nd and 3rd position loans?

We sometimes offer 2nd position loans in rare circumstances with plenty of equity. We do not offer 3rd position loans.
16. Do you offer full construction financing?

No, only investor rehab and you can visit our investor rehab section for more information.
17. You're an equity based lender, so your primary focus is on the equity in the property correct?

Yes
18. What value do you loan up to?

Up to 65% of the 30 day disposition value of the property.
19. Do you determine the value of the property off of the appraisal?

No, we use a 30-day disposition value for our reviewed valuation of the property, determined solely by ZINC and arrived at by a combination of valuation techniques including The B.P.O., A.V.M.'s, Comps and recent foreclosure sales.
20. Are you a direct lender or do you just broker to investors?

We are a direct lender with control of our own funds and we make all decisions right here.
21. What are your fees?

$1,950.00 for underwriting, processing, valuation determination, loan docs, plus any 3rd party fees, plus origination points as defined on our pricing matrixes.
22. What properties do you lend on?

All types of non-owner properties including 1-4 SFR, second homes, Commercial, Industrial, Retail, etc.
23. Are there any properties you do not lend on?

We do not lend on primary residences, raw land, mobile homes, extremely rural properties, or properties in very poor condition or undesirable areas.
24. What is your minimum Credit Score (FICO)?

We do not have a minimum Credit Score, however we do pull credit, and we do look at payment patterns, especially mortgage and auto pays.
25. Do you do foreclosure or N.O.D. bailouts?

Yes, if there is a verifiable story that makes sense.
26. What income requirements do you have?

We do not have set income requirements for the borrower, but the borrower must be able to prove the ability to repay.
27. What are your Debt to Income Requirements?

Maximum D.T.I. of 55%.
28. What debt coverage ratio do you require for income producing properties?

We like to see a 1.4 D.C.R.
29. How soon can I expect a preliminary approval from ZINC?

Usually within 24 hours, if the submission is complete.
30. Do you require any up front fees?

Yes, upon pre approval, we require a $350.00 deposit to be paid by either the borrower or the broker to pay for the B.P.O, Property Profiles, valuation research and loan doc prep work, prior to issuing a formal approval. This deposit is refunded at closing. If the loan does not close for ANY reason, the deposit is forfeited.
31. How soon can I expect funding from ZINC?

Usually in 7-10 days if required documentation is provided timely.
32. What fees can the broker charge?

Our submission form states points can not exceed lender points, and up to $400.00 for processing.
33. Do you require the borrower to use a 3rd party escrow chosen by the lender?

Yes, with the exception of a purchase and then the escrow and title company must be approved by ZINC. See Title and Escrow requirements under the Forms Section.
34. Do you ever speak with the borrower directly?

Yes, every borrower must complete an extensive recorded borrower interview over the phone?
35. What do you require to submit a loan?

   - A signed 1003 and 1008
   - Credit report
   - Color Appraisal or interior and exterior color pictures
   - And any other information useful to help us determine
     the loan quality