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LENDER AFFILIATE

COMPENSATION

  • Minimum of ½ a point on every single deal
  • Paid out once monthly during the following month by the 7th
  • 1099 compensation

BROKER REQUIREMENTS

  • Provide required completed packages
  • Maintain communication with client
  • Must have 2+ years experience in lending
  • Does not need to be licensed (all commercial/business to business lending)
  • Once approved, accept good faith deposit to ensure clients’ commitment
  • Enjoy the extra line of income added to your products

AVAILABLE RESOURCES & MARKETING MATERIALS

  • Internal processing handled by Freeland
  • Free detailed credit packages provided by Freeland, including:
    • MSA reports, pro forma packets, high level appraisal preparation package for appraiser
  • Broker agreement, which provides security to our partners that we cannot and will not originate a deal for your client unless
    brought by the partner. This gives security to our partners, knowing their clients will always be theirs.
  • Monthly and/or quarterly meetings/calls to provide updates and receive partner feedback.
  • Routine pipeline updates and visibility throughout the process
  • Digital white labeled marketing material to use for acquiring deal flow, including:
    • Product Sheet (PDF), PPT, Facebook Ad template, Direct Mail Postcard Template
    • (10) Printed copies of credibility packet
  • Internal training/coaching for current and future products
  • Heat map of approved lending locations to pinpoint your focused lending area

INITIAL LOAN DOCS NEEDED FOR SUBMISSION*

  • Completed loan application (provided by Freeland)
  • Completed questionnaire (provided by Freeland)
  • Selected appraiser (if you do not currently work with an appraiser, Freeland will provide)
  • Borrowers’ Schedule of Real Estate Owned (Freeland can assist)
  • Borrowers’ brief description of background & real estate/investment history
  • Signed Purchase Agreement for all purchases

*Additional documents maybe requested (including signed term sheet with deposit, rent roll, pro forma, entity docs, operating statement, profit & loss statement)

MULTI FAMILY BRIDGE LOAN PRODUCT

  • Multi-Family apartment buildings; 5+ units
  • For purchase and renovation, for refi and cash out, or refi and renovation
  • Rates from 7.99-10 %
  • Interest-only (Dutch interest structure on rehab funds)
  • 12-24 months*
  • Standard pricing: 10% and 2 points (any charge above par the partner keeps the spread)
  • Lender Doc Fees: $1,100
  • Financing Due Diligence Package: $2,500 under $1 Million & 25 BPs over $1 Million
  • Standard Title Fees
  • 20-25% Down Payment
  • 100% of rehab cost, up to 70% ARV
  • ARV of $250,000 – $5,000,000
  • MSA requirement of 50,000 population density within 3-mile radius of property
  • Extremely light underwriting (no income or asset verification)
  • Minimum credit score of 600 (650+ preferred)
  • Fast closings (as soon as 10 days)
  • Eligible in all Midwest states in approved MSA areas
*Possible exceptions for longer terms

INCOME PROPERTY LOANS - UNDER $75,000

  • PURCHASE OR REFINANCE
  • LOAN AMOUNTS: $25,000 to $75,000
  • MINIMUM PROPERTY VALUE: $40,000
  • NON-OWNER OCCUPIED
  • UP TO 4-UNIT RESIDENTIAL PROPERTY
  • FIXED RATES
  • FULLY AMORTIZING UP TO 30 YEARS
  • NO SEASONING REQUIRED FOR CASH OUT OR RATE & TERM
  • REQUIRES 650+ CREDIT SCORE & 3500 IN ASSETS
  • RATES START AT 6.875% FOR 15-YEAR TERM, 7.25% FOR 30-YEAR TERM
  • LTV: 65% to 80%
  • DSCR: 1.25
  • Currently available in OH, PA, VA, DE, MD only

INCOME PROPERTY LOANS - OVER $75,000

  • LOAN AMOUNTS: $75,000 to $1,000,000
  • MINIMUM PROPERTY VALUE: $100,000
  • VACANT ACQUISITIONS ALLOWED. REFINANCES MUST BE LEASED.
  • 1-4 UNIT, TOWNHOUSE OR WARRANTABLE CONDO
  • REQUIRES 650+ CREDIT SCORE & 6 MOS. OF RESERVES AT CLOSING (NO INCOME VERIFICATION REQUIRED)
  • RATES START AT 5.375% FOR 30-YEAR TERM, INITIAL IO AVAILABLE
  • LTV: 80%
  • PDTI: 90%
  • Currently available in all US states except AZ, CA, MN, NC, ND, NE, NV, OR, SD, TN, VT

INTERESTED IN APPLYING, OR HAVE ANY QUESTIONS?