SIMULTANEOUS CLOSING FORM
PROGRAM IS CLOSED TILL FURTHER
NOTICE!
Simultaneous closings are a way to facilitate the sale of a home that can not
be done in any other format. Please complete the form below to provide you with
a no obligation quote about your proposed transaction. This form is to
submit deals in 80-10-10 fashion. Another words, the buyer is to put 10%
down as down payment, the seller is to carry back a second lien for another 10%
of the purchase price and a first will be created at 80% Loan to Value (LTV)
which we will offer 88-90% of its balance at closing. This transaction is
predicated on a buyer mid credit score of at least 620 fico score.
| Your Information |
|
The person completing this form is:
|
|
|
First Name:
|
|
|
Last Name:
|
|
|
Address Street:
|
|
|
Address Street 2 as
needed:
|
|
|
City:
|
|
|
Zip Code:
|
(5 digits) |
|
State:
|
|
|
Your Contact Information
|
|
Daytime Phone:
|
|
|
Evening Phone:
|
|
|
Cell Number:
|
|
|
Fax Number:
|
|
|
Email:
|
|
| Transaction Information |
|
Proposed Purchase Price:
|
|
|
Proposed Down Payment:
|
At least 10% |
|
Proposed 2nd Note amount:
|
10% needed |
|
Proposed Sales or closing date (at least 30
days from today)
|
|
|
Proposed Amount of the Note
to be sold at closing:
|
|
|
First Payment Due Date (30 Days after closing)
|
12/01/2008 format |
|
Proposed Term In Months:
|
|
|
Proposed Interest Rate:
|
|
|
Proposed Payment Amount:
|
|
|
Is there a balloon payment
due on this note:
|
|
|
Proposed Balloon payment
amount if any:
|
|
|
Balloon payment date if any:
|
|
| Tell us about the Buyer |
|
Payor's credit rating?
|
|
|
Are any of the funds for the down payment
borrowed?
|
|
|
If any Funds are Borrowed, How Much?
|
|
| Property Information |
|
Location State:
|
|
|
Location City:
|
|
|
Property County:
|
|
|
Property Value:
|
(USD) |
|
Based on:
|
|
|
Property Type:
|
|
|
Owner Occupied:
|
|
| Items Needed for this transaction |
ITEMS REQUIRED TO COMPLETE THE
TRANSACTION
- Our Quote Amount subject to
complete and approved documentation.
- True and corrected signed
1003 Residential Loan Application.
- An Original Appraisal;
Full appraisal with 4-5 interior photos provided by a State
Certified Appraiser. Naming the seller as the Lender.
- A paid
Hazard Insurance Policy due at closing naming
Seller as loss payee.
- Title Commitment naming
the seller as proposed Mortgagee insured. Insured amount
must be for an amount equal to the 1st lien or greater.
- All documents: Bank
Statements, Credit Report, etc. must be updated
thirty days prior of the day of closing.
- Under 620 credit score requires
12 months cancelled checks or money orders to verify rent.
- Monthly income must be a minimum of
$1,600 and create a 50% Debt to Income.
- Special Assessments:
All unpaid assessments must be paid in full prior to or at
closing.
- Title Company or their Appointed
Attorney shall prepare all mortgage and note documents for
first and/or second liens.
- Copy of buyer's Photo ID and
Social Security Card or W9.
- On credit scores below 600, Buyer's
last 2
pay-stubs and Bank Statements for last 2 months, last
2 years W2's or if self employed, the last 2 years of
tax returns.
Note: The transaction needs to be structure in am
80-10-10 format. 10% down payment, 10% 2nd note (To be seller
held and not purchased by us) and an 80%
LTV first lien to be purchased by us.
|
|
|
|
| Marketing Information |
|
Please Tell us how you found us:
|
|
|
If via a search engine, can you tell us what
keywords you used?
|
|
|
|
|