Zinc Financial Inc


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  • zincPhone: (559) 326-2509

Address: 1592 Shaw Avenue, Clovis, CA 93611

Website: http://www.zincfinancial.net/

Email: submit@zincfinancial.net

States They Lend In: California, Washington, Arizona, New Mexico, Colorado, Texas, Tennessee, and Michigan

 

LOAN PROGRAMS

 

All loan programs require investor's to contribute their own capital in the form of hard cash, no matter how good of a deal the investor secured. This is non negotiable and aligns the investors interest with ZINC's and provides for a mutually beneficial relationship.

ZINC has 4 Investor Rehab Loan Programs, each one with a different degree of Investor experience required. Experience is verified prior to funding. Please determine which loan program applies to you, then submit your loan request and upload the required submission documents at our Submit a Loan tab on our website.

ZINC Buy and Hold for Real Estate Investors, rentals

 

Requirements: Investor has completed and PAID OFF 3 or more transactions with ZINC in the last 12 months

Loan Amounts: $75,000 to $1,500,000

Term: Up to 48 months

Points: starting at 2.0*

Borrower Down Requirement:20% of purchase price

LTV: Up to 80% of purchase price

Underwriting/Loan Documents:$900.00 plus $350.00 for appraisal ordered by ZINC directly

Pre Pay: 1 year prepay if loan amount >$300,000

Upfront fee of 5. 1 point credited at loan payoff, if paid off within 6 months

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

ZINC Rehab Gold (ZRG)

 

Requirements:Investor has completed and PAID OFF 3 or more transactions with ZINC in the last 12 months

Rate: 8.99%

Loan Amounts:$200,000 to $1,500,000

Term: Up to 24 months

Points: Starting at 1.5*

Borrower Down Requirement: 25% of purchase price

Available Liquidity: 10% - 20% of project cost

Rehab Budget Financing: Up to 80% of rehab budget with fund control

LTV: Up to 75% of purchase price.

Underwriting/Loan Documents: $900.00 plus $350.00 for appraisal ordered by ZINC directly.

Timeline to Fund: 7 to 10 days

*Upfront fee of 5. 1 point credited at loan payoff, if paid off within 6 months

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

ZINC REHAB PRO (ZRP)

 

Requirement: Investor is experienced, and has completed and PAID OFF 3 or more transactions with any lender in the last 12 months. We require evidence in the way of 3 initial HUD's, 3 final HUD's and before and after pictures of the properties.

Loan Amounts:$50,000 to $1,000,000

Term:9 months with up to one 3 month extension

Rate: Starting at 9.99%

Points: Starting at 2.0*

Borrower Down Requirement: 10-20% of purchase price

Available Liquidity: 10% - 30% of total project cost

Rehab Budget Financing: Up to 80% of rehab budget with fund control

LTV: Up to 80%-85% of purchase price.

Rehab Timeline: All rehab work must be fully completed within 75 days of funding.

Underwriting/Loan Documents: $900.00 plus $350.00 for appraisal ordered by ZINC directly.

Timeline to Fund:  7 to 10 days
**Upfront fee of 5. 1 point credited at loan payoff, if paid off within 6 months

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

  ZINC REHAB BEGINNER (ZRB)

Requirement: Investor has less than 3 transactions, or is just starting out

Loan Amounts:$50,000 to $800,000

Term: 9 months with up to one 3 month extension

Rate: Starting at 10.99%

Points: Starting at 2.0*

Borrower Down Requirement: 20-30% of purchase price

Available Liquidity:  10% - 30% of total project cost

Rehab Budget Financing: Up to 80% of rehab budget with fund control

LTV: Up to 80% of purchase price.

Underwriting/Loan Documents:$900.00 plus $350.00 for appraisal ordered by ZINC directly.
Timeline to Fund:  7 to 10 days

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

 

  ZINC AUCTION CASH OUT (ZACO)

 

Loan Amounts:$50,000 to $1,000,000

Term:3 months with up to one 90 day extensions

Rate: Starting at 10.99%

Points: Starting at 2.0*

Cash Out Max:  Up to 80% of what investor paid at court house auction

Available Liquidity:  10% - 30% of total project cost

Rehab Budget Financing:Up to 80% of rehab budget with fund control

LTV: Up to 65% A.R.V

Rehab Timeline:All rehab work must be fully completed within 75 days of funding

Underwriting/Loan Documents: $1,100.00 plus $350.00 for appraisal ordered by ZINC directly
Timeline to Fund: 7 to 10 days

* $2,500 minimum

** Lower FICO's considered on a case by case basis, however ZINC is not a subprime lender.

Additional Requirements:

  • Lien position - First only.
  • Rehab funds - control fund required if rehab portion is financed. Third party control fund fee of $1200 applies.
  • Property must fall at or below disposition value, as determined solely by ZINC Financial, Inc..
  • Investor must demonstrate ability to repay or refinance in the event of inability to sell the property.
  • Investor must always personally guarantee all loans, regardless of title vesting.

 

WHAT WE LEND ON
ZINC Financial, Inc. is an investment rehab lender. ZINC lends money to investors who purchase distressed properties at reduced prices with the intention of rehabbing them and reselling them to earn a profit, or they intend to rent roll them up and secure conventional financing. Our loan products are short term bridge loan for distressed properties only. The very nature of the distressed property limits conventional financing, hence the need for our short term loan product.

We typically lend on distressed SFR 1-4 units, however we will consider multifamily and commercial with the right investor.

Some of what we lend on can be found below:

  • General Fix and Flip Properties
  • Foreclosures
  • Trustee sales
  • Auctioned Properties
  • Outdated properties
  • Neglected properties
  • Owner neglected multi-family
  • Properties with Stop notices and/or permit issues
  • Distressed properties with home inspection issues preventing conventional financing
  • Vandalized properties
  • Abandoned properties
  • Probate properties needing repair before liquidation
  • Flood damaged properties
  • Fire damage

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