Set up your capital in advance! Get a Conditional Approval within 24 hours of submitting your application. The application fee is $395. A 1% deposit (minus the $395) of the credit limit is required. Limit increases can be requested at any time. Renew the line each year.
Lender provides “Proof of Funds” letters to all approved borrowers.
Rehab funds are advanced in draws, wired directly to your account. The typical project is completed in 1-4 draws.
Advance % of total 85% 90% 95% 100%
Rehab % 100% 100% 100% 100%
Points 4 5 6 7
Rate 14.99% 14.99% 14.99% 14.99%
LTV 70% 70% 65% 60%
Credit 640 640 675 700
To begin your application, send an email with the following:
Please provide complete information
ask (at) kgfunding (dot) com
Name, Full Address, Phone, and Email
Do you have any rehab experience? If yes, # of years and # of properties in past year
Do you have a deal right now? If yes, what is the closing deadline?
Property Info Note: Property can not be Owner-Occupied.
Indicate whether current or planned deal. Provide the following for each current deal.
Property Location: Please include State(s).
Type of Property: Single Family/2-4 Family/5-Plus/Condo Conversion/Other
Rehab Cost (if any):
Dates & Deadlines
*Cash & Liquid Assets: (Stocks, Bank Accounts, CD’s, Mutual Funds)
Own your own Home? How much available equity?
Do they currently have a HELOC? Line Amount? How much Available?
Own additional properties? How Many? Equity Available?
Revolving or Credit Card debt? If Yes, how much?
Employment Status (full, self, etc.) and Annual Income
Any additional comments
*Asterisked field items on form MUST be completed for pre-approval.
Return to www.kgfunding.com/rehabbers.html
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