Broker s Referral Program

Transcription

1 Broker s Referral Program ENROLLMENT KIT One-time prequalification, years of residual income!

2 About Brookview Financial Who We Are Brookview Financial is a National rehab lender, specializing in forming successful financing and mentoring relationships with rehab investors at all levels of experience. STATES Alabama California Colorado Connecticut Delaware Florida Georgia Illinois Indiana Kentucky Louisiana Maine Maryland Massachusetts Michigan Mississippi Minnesota Missouri New Hampshire New Jersey New Mexico New York North Carolina Ohio Oklahoma Pennsylvania Rhode Island South Carolina Tennessee Texas Utah Virginia Washington D.C. Washington Wisconsin As a relationship lender, we believe that it is just as important for borrowers to know their lender, as it is for us to know our borrowers. After all, the ability to make quick-close offers without financing contingencies is dependent upon the swiftness and reliability of the investor s capital. An investor s reputation is built on being able to close quickly with confidence! Since 1992, our mission at Brookview Financial has been to support our customers success. We offer multiple programs designed specifically for the rehab investor that include features such as: No payments for the first 6 months Closing in two weeks or less Credit lines for repeat customers No pre-payment penalties Loans up to 70% ARV We also pledge full customer care and support throughout the entire process, assigning a National Account Manager, who is accessible from the pre-qualification stage to closing for Quality Service each borrower. In establishing a relationship with Brookview Financial, investors will find a lender who understands the steps to successful rehabbing. Providing prompt and reliable capital fuels the growth of our clients business; business that we aim to support with industry knowledge and outstanding customer service. The success of our rehab investors, coupled with the strength of capital we provide as a direct lender, achieve a shared and ultimate goal; of revitilizing communities, encouraging home ownership and increasing the supply of affordable housing nationwide. We invite qualified investors to join us in this endeavor. Anthony J. Funaro President and CEO Call toll-free today! (877) or visit us online at:

3 Brokers Connect with Brookview Why join the Brookview Financial Broker Referral Program? It s EASY! ONE-TIME Prequalification! COLLECT residual income for years! PERSONAL support from Brookview! Our program has been designed to provide borrowers accross the country with unique rehab lending options to meet the specific needs of their rehab clients. Questions? Call (877) or visit us online at By becoming a member of the Brookview Broker Program, you are able to connect your rehab clients with a National direct lender that provides fast, reliable capital and encourages the rebuilding of distressed properties in U.S. communities. We value our broker circle and are committed to engaging in professional and successful partnerships. You can rest assured that your client is in good hands -- Brookview has a long history of financing rehab investors NATIONWIDE, and we know what it takes for real estate investors to succeed! 3 SIMPLE STEPS! Fill out the Broker Agreement Fill out the Pre-Qualification Worksheet A Win-Win Situation! When your referred client closes a loan, COLLECT INCOME!

4 Rehab Program Options Building your Rehab Business with Options Simply stated - Every real estate investor has financing needs. At Brookview Financial, we understand that and have created four investor options that range from 85% - 100% financing! And, as always, all options feature: No interest payments for 6 months Two-week closings No prepayment penalty ever Fast Rehab Funds Benefit from the great reputation and service our borrowers depend on nationwide. Contact us today to discuss how we can help take your rehab business to the next level. Discover the Brookview Difference. Rehab Financing Options Option 1 Option 2 Option 3 Option 4 Ultimate Core 85 Leverage 90 Leverage 95 Leverage 100 Advance %: (on total project costs) Rehab %: Points*: (Financed) Interest: (No payments for 6 months) LTV: (Based on After- Repaired Value) Credit**: 85% 90% 95% 100% 100% 100% 100% 100% % 14.99% 14.99% 14.99% 70% 70% 70% 65% * Points minimum $2500. Points reduced with repeat business. **Under 640 credit considered on a case-by-case basis. *** Terms subject to change at the sole discretion of Brookview Financial. Loan approvals are subject to our standard underwriting criteria and due diligence. Call us Toll-Free at (877)

5 Rehab Program Guidelines Brookview Financial PROPERTY TYPE: LIEN POSITION: LINE TERM: LOAN TERM: Residential 1-4 Family, non-owner occupied. Small apartment and condo conversions on a case-by-case basis. First mortgage only. Up to 24 months renewable thereafter with limited credit review. 6 months, extendable for up to 13 months. ADVANCE RATE: Options from 85% to 100% of project costs. Minimum loan amount $25,000. LTV: RENOVATION FUNDS: Up to 70% of After-Repaired Value. 100% of renovation funds are typically advanced in 1 to 4 draws. Once inspector certifies work is done, funds are wired within 24 hours directly to the investor s account. PRICING OPTIONS: We have various pricing options based upon experience, financial condition and projected loan volume (See Rehab Program Options ). INTEREST PAYMENTS: No payments for 6 months. QUALIFYING DOCUMENTATION: Brookview Rehab Loan Application including: Two years Tax Returns (both personal and business) Three months Bank Statements (both personal and business) Entity documents (EIN #, Certificate, Articles of Organization/Operating Agreement) LOAN DOCUMENTATION: (For each loan) Purchase Agreement (signed by both parties) Summary of Rehab Work to be Completed (Brookview document) GUARANTEE: Personal guarantee required; close in name of business entity. QUICK FUNDING: Once a borrower has been approved, funding of individual transactions is typically in two weeks. No borrower re-qualification is required for subsequent transactions. Whether you are a novice or an experienced rehabber, we have a loan program to fit your business goals! Call us Toll-Free at (877)

6 Place Your Rehab Loans with Brookview And see the benefits: Finance up to 100% of acquisition and rehab costs! LTVs up to 70% After-Repaired Value Easy - You complete the referral form, we do all the rest! Lending in 37 states and growing! Receive 25% of points collected (equates to % points to you) Great residual income opportunity! Loans on residential (1-4 unit), non-owner occupied properties only Our clients are A clients FICO. Once the rehab is complete, we refer them back to you for refinancing. Get paid on both ends! Once approved, we close in 2 weeks or less! We welcome both novice and experienced rehab clients Your client can do multiple deals - and you get paid on every deal! Brookview Financial - the Nation s Premier Rehab Lender CALL TOLL-FREE TODAY (877) or visit us online at:

7 To Qualify Will your borrower qualify? The pre-qualification worksheet included in this packet helps us expedite the qualification of your referred borrower. It takes just a few minutes to complete! Use the below information as a qualification quideline to see if Brookview Financial is a good match for your borrower! Credit Score: Minimum of 640 to qualify Total Liquidity: Minimum of $20K Includes Liquid Assets: All verifiable bank accounts, CDs, marketable securities, cash value of life insurance, etc. Includes Available Secured Credit: Unused Home Equity Line or other Secured Credit Lines. This does not include 401k accounts or other retirement accounts. Property: Brookview finances ONLY residential, non-owner-occupied investor properties. No new construction, raw land or mobile homes. Beginner-Friendly: Yes, we will finance new rehab investors! About our loans: No payments for 6 months! Points and interest can be financed into the loan. After-Repaired-Value (ARV): Will loan up to 70% ARV. Rehab: 100% renovation funds are escrowed and wired directly to the borrower s account upon completion of each rehab phase. Flexible Term: 24 months renewable thereafter with limited credit review

8 BROKER REFERRAL PRE-QUALIFICATION WORKSHEET FAX: , PHONE: ext. 333 BROOKVIEW FINANCIAL, ATTN: Broker Department Form must be completed by referring broker. Forms faxed to and completed by referral will not be eligible. Pre-Qualification DATE: Broker Contact Name: Broker Borrower Info: Name: Address: City: Phone: Broker Phone Number: Broker Fax Number: State: Zip: *Borrower Credit Scores: 640 Minimum Score to Qualify Have they had any rehab experience? YES # of years NO # of properties in past year? Do they have a Deal Right Now? YES NO Closing Deadline? Property Info: (Current Deal Info Target Deal Info ) Property Location: Please include State(s) Property can not be Owner-Occupied. Type of Property: Single Family 2-4 Family 5-Plus Condo Conversion Other Purchase Price: Rehab Cost (if any): After-Repair Value: Dates & Deadlines: Financial Details: Other Information: *Cash & Liquid Assets? (Stocks, Bank Accounts, CD s, Mutual Funds) $ Employment Status and Annual Income Full $ Self Do they Own their own Home? Equity Available? YES $ NO Additional Information & Comments: Do they currently have a HELOC (Line Amount)? How much Available? Own additional properties? How Many? Equity Available? YES $ YES NO NO Revolving or Credit Card debt? If Yes, how much? YES NO *Asterisked field items on form MUST be completed for pre-approval.