ZINC Financial, Inc.
Your Leading Source for Investor Rehab Money

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LOAN PROGRAMS

All loan programs require investor's to contribute their own capital in the form of hard cash, no matter how good of a deal the investor secured. This is non negotiable and aligns the investors interest with ZINC's and provides for a mutually beneficial relationship.

ZINC has 4 Investor Rehab Loan Programs, each one with a different degree of Investor experience required. Experience is verified prior to funding. Please determine which loan program applies to you, then submit your loan request and upload the required submission documents at our Submit a Loan tab on our website.

LOAN PROGRAMS (see below for further information)

  1. ZINC Buy and Hold for Real Estate Investors, rentals
  2. Rehab Pro (ZRP)
  3. Rehab Beginner (ZRB)
  4. Auction Cash Out (ZACO)
1)  ZINC BUY AND HOLD FOR REAL ESTATE INVESTORS, RENTALS
Pre Pay:1 year prepay if loan amount >$300,000
Loan Amounts:$100,000 to $850,000
Term:48 months to 60 months
Rate:7.49%
Points:3.0*
Borrower Down Requirement: 20% of Purchase Price.
LTV:Up to 80% of purchase price.
FICO:625+ **
Underwriting/Loan Documents: $900.00 plus $350.00 for appraisal ordered by ZINC directly.
Timeline to Fund: 7 to 21 days
See submission form for other parameters.

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

2)  ZINC REHAB PRO (ZRP)
Requirement:Investor is experienced, and has completed and PAID OFF 3 or more transactions with any lender in the last 12 months. We require evidence in the way of 3 initial HUD's, 3 final HUD's and before and after pictures of the properties.
Pre Pay:none
Loan Amounts:$25,000 to $600,000
Term:9 months with up to one 3 month extension.
Rate:11.9%
Points:3.0*
Borrower Down Requirement: 10-20% of Purchase Price.
Available Liquidity: 10% - 30% of total project cost.
Rehab Budget Financing: Up to 75% of rehab budget with fund control.
LTV:Up to 80%-90% of purchase price.
FICO:625+ **
Rehab Timeline:All rehab work must be fully completed within 75 days of funding.
Underwriting/Loan Documents: $900.00 plus $350.00 for appraisal ordered by ZINC directly.
Timeline to Fund: 7 to 10 days
See submission form for other parameters.

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

3)  ZINC REHAB BEGINNER (ZRB)
Requirement:Investor has less than 3 transactions, or is just starting out.
Pre Pay:none
Loan Amounts:$25,000 to $600,000
Term:9 months with up to one 3 month extension.
Rate:12.9%
Points:3.5*
Borrower Down Requirement: 20-30% of Purchase Price.
Available Liquidity: 10% - 30% of total project cost.
Rehab Budget Financing: Up to 75% of rehab budget with fund control.
LTV:Up to 70%-80% of purchase price.
FICO:625+ **
Rehab Timeline:All rehab work must be fully completed within 75 days of funding.
Underwriting/Loan Documents:$900.00 plus $350.00 for appraisal ordered by ZINC directly.
Timeline to Fund: 7 to 10 days

See submission form for other parameters.

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

4)  ZINC AUCTION CASH OUT (ZACO)
Pre Pay:none
Loan Amounts:$25,000 to $600,000
Term:3 months with up to one 90 day extensions
Rate:12.0%
Points:3.0*
Cash Out Max: Up to 80% of what investor paid at court house auction.
Available Liquidity: 10% - 30% of total project cost.
FICO:625+ **

See submission form for other parameters.

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

 SUBMISSION DOCUMENTS
 1) ZINC Application Packet
     (see zincfinancial.net - forms section)
 4) 3 Months Bank Statements
 2) Completed Submission Form
     (submit a loan tab)
 5) Ten Colors Pictures - Inside, outside, and street
     view or color appraisal
 3) Purchase Contract (if a purchase)  

Additional Requirements:

  • Lien position - First only.
  • Rehab funds - control fund required if rehab portion is financed. Third party control fund fee of $1200 applies.
  • Property must fall at or below disposition value, as determined solely by ZINC Financial, Inc..
  • Investor must demonstrate ability to repay or refinance in the event of inability to sell the property.
  • Investor must always personally guarantee all loans, regardless of title vesting.
  • To review any submission, ZINC needs a minimum of:

 

EXAMPLES OF QUALIFIED REHAB LOANS:

1. INVESTOR A - ZINC REHAB PRO (ZRP)

Investor A is experienced and has bought and sold at least 3 properties all financed with ZINC within the past 12 months, each with a substantial profit.

Investor A locates an REO or distressed property and negotiates a purchase price of $100,000. Investor submits a loan submission to ZINC. ZINC confirms that $100,000 is at or below the disposition value for other situated properties in the area.

Investor A has two options:

1) The Investor can now secure the loan immediately for up to 80% of the initial purchase or in this example $80,000.

A.R.V.$175,000After Repaired Value
Purchase Price$100,000 
ZINC Loan Amount$80,000  
Loan Fee$3,2004.0 points
Appraisal $350 
Underwriting $1,100  
Title/Escrow/Other $1,000 Estimate
Cash Required$25,650Plus 10-30% in reserves, or $10,000-$30,000 in this example

 
OR

 
2) The investor can secure rehab estimates to increase the loan to cover a portion of the rehab budget. If the investor chooses to secure a rehab estimate and the rehab bid comes in at $30,000, the Investor may request a loan amount of up to 80% of initial purchase of $100,000, and up to 60% of the rehab estimate of $30,000 for a total loan request of $98,000 ($80,000 + $18,000).

If a portion of the rehab is financed, the entire rehab budget, including the investor's portion is escrowed in a control fund and is disbursed at up to 3 stages of the rehab, if and only upon:

  • Physical inspection of completed work
  • Required lien releases by all sub contractors have been secured, and
  • Appropriate county inspection sign offs, confirming completion, have been secured.

A.R.V.$175,000After Repaired Value
Purchase Price$100,000 
Rehab Estimate$30,000 
ZINC Loan Amount$98,000 (80%*100,000+60%*30,000)
Loan Fee$3,9204.0 points
Rehab Fund Control$1,0003rd party control fund fee
Appraisal $350 
Underwriting $1,100  
Title/Escrow/Other $1,000 Estimate
Cash Required$39,370Plus 10-30% in reserves, or $10,000-$30,000 in this example

There is a fee for the 3rd party control fund process.

See submission form for other parameters.

 

2. INVESTOR B - Auction Cash Out (ZACO)

Investor B purchases a distressed property at the County Courthouse Auction for $100,000. Investor B pays for the property, as required, at the auction on the day of the auction. Investor submits a loan submission to ZINC, to obtain up to 80% of the cash just spent in order to provide liquidity to the investor enabling the investor to purchase more properties immediately.

A.R.V.$175,000After Repaired Value
Purchase Price$100,000Investor already paid this at auction
ZINC Loan Amount$80,000  
Loan Fee$3,2004.0 points
Appraisal $350 
Underwriting $1,100  
Title/Escrow/Other $1,000 Estimate
Cash Back to Investor$74,350 

In either loan process, the rehab investor must have skin in the game in the form of hard cash, no matter how good of a deal the investor negotiated. This is non-negotiable and aligns the investors interest with ZINC's and provides for a mutually beneficial relationship.

 

ZINC Financial, Inc.

Loans made or arranged pursuant to a California Lender's License
*Loans made or arranged in Arizona must be represented by a mortgage broker qualified to do business in that state.

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