Questions? We have answers.
What services does Mcfams Property Solutions offer?
Mcfams Property Solutions offers a range of services tailored to meet your real estate investment needs. Our offerings include Fix & Flip, Buy & Hold, and Refinance Private Money Loans. We also provide Proof of Funds Letters, Collateral DNA Reports, and have high equity off-market property leads available, ensuring you’re not competing with other investors in your area.
How does private money lending differ from traditional lending?
Private money lending typically offers faster approval and funding processes, more flexible lending criteria, and is asset-based, relying on the property’s value rather than the borrower’s credit history.
What types of real estate investments can I finance with private money lending?
Private money lending can be used for a variety of real estate investments, including fix and flips, buy and hold properties, and refinancing.
What are the benefits of private money lending?
Benefits include quicker access to capital, flexibility in loan terms, no minimum credit score requirements, and the ability to secure financing for properties that may not meet traditional lending criteria.
Are you a Lender or a Broker and are there fees or commissions involved?
We are a lender and a broker. If for any reason we can’t provide the funding you need, then we have a large network of other lenders we work closely with and we can broker the funds to you. If you’re in need of 100% funding, we also have split equity opportunities available. Regardless of the loan type, there is always a 3% Broker fee, which is standard in the industry.
Is my information kept confidential?
ABSOLUTELY 100%! Your privacy is of the utmost importance to us. Any information you provide is completely confidential.
How do you decide the amount to lend?
It is based on the Asset you have under contract. Generally, we lend up to 90% of the purchase price and 90% of the rehab cost. Ask a loan officer how you can get up to 100%.
Why won’t you lend on owner-occupied properties?
Our current business model is to provide loans to real estate investors for non-owner-occupied real estate investments. If you are in need of funding for a home you will be occupying, enquire within and we can connect you with one of our owner-occupied funding partners.
I need 100% financing. Can you do that?
Yes. Ask a loan officer for more details. When joint venturing with us then we can indeed provide up to 100% financing.
How long does it take to close a transaction from start to finish?
About 14 days after we receive all required documentation but receiving all documentation can take three to four weeks. Aim for 30 days whenever you can.
What Does FHA Cap Mean?
The FHA Cap represents the maximum loan amount in the county the investment property is located in.
What Does ARV Mean?
ARV stands for After-Repair Value. It is the estimated value of a property after completed renovations.
What Does Asset Based Lending Mean?
Asset-based lending (ABL) refers to a type of financing in which a borrower secures a loan by using their assets as collateral. Instead of focusing primarily on the borrower’s creditworthiness, Mcfams Property Solutions relies on the value of the real estate assets being used as security.