Funding For Flipping, doing business as fundingforflipping, was a credit company offering funding for real estate investors at the website fundingforflipping.com (1). They are closed since 2021.
When you applied for funding, they requested the prospective borrower information about the credit score. They required a credit score of 700 to qualify, in most cases.
The loan requirements requested by fundingforflipping.com were similar to other lenders regarding the issue of loans for real estate investments.
Fundingforflipping.com was located in 509 W. Old Northwest Highway, Suite 210, Barrington, IL 60010.
It is important that a good credit score and substantial net worth are established before applying for such loans.
It was also necessary to have enough cash on hand in order to cover all upfront costs, which can often include home inspections, closing fees, down payments and so forth. The borrower’s income must be verified according to current lending standards, with documentation being submitted accordingly.
Some prospective borrowers may also be required to provide a co-signer, who will have the same qualifications.
Funding for flipping is often needed when you are not able to get funding from traditional sources because of credit issues or lack of equity in your home.
The advantage of this company was that they are willing to work with a borrower who does not have 20% equity in their home.
Funding for real estate flipping in fundingforflipping.com was the act of borrowing funds and using them to purchase property, which will be resold quickly at an increased price so that the investor can profit from reselling it.
The loan requirements needed before applying for such loans included the same requirements that we understand are typical in the real estate business environment: having a good credit score, substantial net worth, enough cash on hand to cover all upfront costs (such as inspections), and documentation showing income verification up-to-date according to lending standards.
A potential borrower may also need a co-signer who has similar qualifications. Funding for real estate flipping is often required when you are unable to have it funded by yourself or do not want to utilize your own assets.
Fundingforflipping.com reviews were generally positive in the specialized real estate forums. Fundingforflipping.com did not have negative reviews in Better Business Bureau or complaints of any kind, and no file recorded in the FTC.
We have interesting articles about non-conventional mortgage loans. The basic ones we will recommend to you are stated income loans, where we discuss if they are currently legal or not, how can you obtain one, and the situation of these loans in California. We are also covering other non-conventional mortgages, such as the ITIN mortgages, luxury home financing that is a figure similar to the jumbo loans, the no ratio loans that do not consider the debt-to-income ratio during the underwriting process, and those loans offered by Funding For Flipping.
If you are into more conventional mortgages such as FHA mortgages, I suggest you read the following related articles described below.
We explain the FHA loan requirements completely, with the current limits for this year. We also go through the appraisal guidelines, and moreover, we are worried about the peeling paint and why it can be an issue.
Completing forms is necessary, so we also study the number format of an FHA case and how to submit an FHA file, how to complete the form HUD 92900, the form for the FHA notice to the homeowner, and the FHA Financing Addendum.
Regarding special housing programs, I would like to include the FHA Back To Work Program.