LOAN PROGRAMS

1. ZINC REHAB PREMIER

Investor has completed 5 or more profitable transactions in last 12 months

Pre Pay:	none
Loan Amounts:	up to $400,000
Term:	6 months with up to two 90 day extensions
Rate:	14.0%
LTV:	up to 80% of purchase price, or purchase price and rehab cost.
FICO:	625+
Points:	4+
Rehab Timeline:	All rehab work must be fully completed within 75 days of funding.
Underwriting/Loan Documents:	$1,950

See pricing matrix and submission form for other parameters.

 

2. ZINC REHAB

Borrower has completed less than 5 profitable transactions in last 12 months.

Pre Pay:	none
Loan Amounts:	up to $200,000
Term:	6 months with up to two 90 day extensions
Rate:	14.0%
LTV:	65% to 75% of purchase price, or purchase price and rehab cost.
FICO:	625+
Points:	5+
Rehab Timeline:	All rehab work must be fully completed within 75 days of funding.
Underwriting/Loan Documents:	$1,950

See pricing matrix and submission form for other parameters.

 

3. ZINC INVESTMENT

Borrower has completed less than 5 profitable transactions in last 12 months.

Pre Pay:	none
Loan Amounts:	up to $400,000
Term:	6 months to 36 months
Rate:	12.0% - 14.0%
LTV:	up to 65% of the disposition value as determined by Zinc Financial, LLC
FICO:	625+
Points:	4+
Underwriting/Loan Documents:	$1,950

See pricing matrix and submission form for other parameters.

Additional Requirements:

• Property must fall at or below disposition value, as determined solely by Zinc Financial, LLC.
• 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
• ZINC can use A.R.V. for loan purposes, with appropriate documentation, draw schedules, etc. Rehab funding portion is escrowed with 3rd party and is only released as outlined below.
• To review any submission, ZINC needs a minimum of:
  • Complete 1003 application
  • Full tri-merge credit report
  • Color appraisal, or interior, exterior, and street view color pictures.
  • Purchase contract
  • Submission form

examples of qualified rehab loans:

1. Investor A - ZINC Rehab Premier

Investor A has bought and sold at least 5 properties within the last 12 months, each with a substantial profit. ZINC confirms profit levels with:

• Initial purchase final HUD,
• Sales final HUD,
• Review of rehab costs associated with subject properties, and
• Confirmation of documents with title/escrow or appropriate real estate entities.

Investor A locates an REO or distressed property and negotiates a purchase price of $100,000. Investor submits a loan submission to Zinc Financial, LLC. ZINC confirms that $100,000 is at or below the disposition value for other situated properties in the area. The Investor can now secure the loan immediately for up to $80,000 or if the investor chooses, the investor can secure rehab estimates from a licensed contractor to increase the loan to cover rehab expenditures. If the investor chooses to secure a rehab estimate from a licensed contractor and the rehab bid comes in at $50,000, the Investor may request a loan amount of 80% of $150,000 or $120,000. The difference between the initial purchase and the rehab loan amounts, in this example $40,000, are escrowed in a control fund and are 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.

There is a fee for the 3rd party escrow process.

See pricing matrix and submission form for other parameters.

2. Investor B - ZINC Rehab

Investor has not bought or sold any properties in the last 12 months and is just starting out.

Investor B locates an REO or distressed property and negotiates a purchase price of $100,000. Investor submits a loan submission to Zinc Financial, LLC. ZINC confirms that $100,000 is at or below the disposition value for other situated properties in the area. The Investor can now secure the loan immediately for up to $65-75,000 or if the investor chooses, the investor can secure rehab estimates from a licensed contractor to increase the loan to cover rehab expenditures. If the investor chooses to secure a rehab estimate from a licensed contractor and the rehab bid comes in at $50,000, the Investor may request a loan amount of 65-75% of $150,000 or approximately $105,000. The difference between the initial purchase and the rehab loan amounts, in this example $35,000, are escrowed in a control fund and are 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.

There is a fee for the 3rd party escrow process.

See pricing matrix and submission form for other parameters.

 

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.