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Using a Line of Credit to finance the down payment and closing costs?

By Paul Marzolla

Mortgage and Lending with FundingPilot

April 13, 2019 10:22 AM

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For many real estate investors the biggest obstacle is saving funds for the down payment, closing costs, and other expenses associated with buying a property. This a very common scenario that our clients face on a daily basis and, because of this, we've tailored a solution to help finance these costs to help expedite your real estate acquistions.

Here at FundingPilot we offer a unique solution for real estate investors who seek financing without the hassle and uncertainty of traditional lending. The real estate Line of Credit is specifically designed for real estate buyers who are seeking to finance the down payment, closing costs, appraisal, renovations, and just about any other fee incurred when purchasing a property. This program offers a hassle-free experience to access credit without having to worry about the time, costs, and documentation requirements often associated when getting a mortgage, loan, or home equity line of credit.

The true beauty of this program is that there's no income verification, no financial documentation, and is 100% unsecured which means there is no collateral requirement and is not tied to the property. Also, since these credit lines do not report to your personal credit report it will not affect future financing transactions, such as getting a mortgage.

Because of this flexibility it comes as no surprise that our most popular clients include real estate investors of all sizes. Whether seeking to fix and flip, or fix and hold, this program allows investors to have open credit lines to make repairs or improvements not only for current projects, but future projects as well. To apply please complete the Down Payment Financing Pre-Approval Form or email us directly at support@fundingpilot.com or by calling us directly at 888-454-3001.

Whether you were turned down in the past due to the property type being ineligible, LTV was too high, DTI / DSCR was too high, or qualifying income was too low; the stated income Line of Credit bypasses all of those major obstacles and lets you stay on track to accomplish your real estate goals.