Northside Funding is a private mortgage
lender focusing on 1-DAY TRANSACTIONAL FUNDING LOANS direct to
select real estate investors at the lowest possible cost.
When dealing with Northside Funding, you will not
get a fancy website or telephone access to a customer service
department to answer all your real estate questions.
will get is:
- Straightforward business,
dealing personally with the principal lender
-Fast communication, Fast
decisions and Fast funding
-Fair rates and Flexible
-NO UPFRONT FEES - EVER!
Transactional Funding, sometimes
referred to as "Flash Funding" is a 1 to 3 day loan to
facilitate "back to back" real estate transactions. These
usually occur when an investor has received a lender approval to
purchase a short sale or REO property and also already has
a contract to re-sell the property to an end buyer. These are typically
referred to as A-B and B-C transactions. We fund the A-B
NorthSide will loan 100% of all the purchase costs for
the A-B transaction in these cases and the fee is JUST 1.5 POINTS,
the lowest in the industry.
No application or processing
fees every apply at all!
Repeat transactional borrowers
often see their rates lowered after several deals and the rates can
go as low as 1 point!
We can offer Transactional Funding within 24 hours
after all documents have been received, and in most states, under
the following criteria.
- Loan Size $30,000 - $400,000. Duration - 1-3
- NorthSide lends 100% of net purchase costs.
1. Close both transactions through the same title
company. No quit claims.
2. Provide full details of both the A-B and B-C
transactions including proof that the A-B transaction has
been disclosed to the C buyer and the C lender.
3. B-C contract must have all contingencies
satisfied and funds "in house" with the title company prior
to the A-B closing.
4. Both closings must be the same
day with the same title company.
1.5 points. No processing fees. There
are late charges if the loan is not paid back as
agreed. Minimum total fee is $1000.
TO SEE IF YOUR PROPERTY
FLIP QUALIFIES FOR TRANSACTIONAL FUNDING. PLEASE FILL OUT THIS