5% Down
At Pacific Equity & Loan, we put high value on what matters most to our borrowers. We understand that every borrower and property is different and we are here to create flexible terms that fit our clients needs. That is why we put together our 5% Down program. This program is a great option for borrowers who would rather pay through interest instead of worrying about a hefty down payment. This program is for fix and flip properties so borrowers can get in and out of projects quickly and make a great return on their investment.
5% DOWN
Product highlights
BASIC INFORMATION ON OUR 5% DOWN PROGRAM
- Term: 6 months
- Interest Accrual Method: Dutch
-
$75k min. loan amount (purchase + repairs),
max. loan amount $600K - Up to 95% LTC and 70% LTARV
-
Interest rate starting at 12%
*Subject to underwriting approval -
Origination fee starts as low as 3pts
*Subject to loan terms - $200 Fee per Repair Draw
- Completed 3 projects previously with PEAL
Quick and Easy
CREDIT APPROVAL REQUIREMENTS
2-3 DAY TURNAROUND TYPICALLY FOR CREDIT AND PROPERTY APPROVAL
Driver’s License
Minimum Credit Score
Loan Application
Documents
What We Need From You To Process
We need a few documents from you to in order to process your loan, if you have these ready to go it will speed up the process and get your loan closed quicker.
Full Appraisal
Itemized Repair Budget
On our application
Fully executed contract & any assignments you may have
Entity Docs
Operating Agreement/Bylaws
W-9 – EIN Assignment Document
Articles of Organization
Certificate of Good Standing
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