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Loan Guidelines

Auction Bridge Loan Guidelines:

  • Residential single family/duplex houses
  • Property located in markets Fairpaly Funding serves
  • Pre-qualified borrower (emphasis is on ability to pay)
  • 20% down payment prior to going to auction
  • Max loan to cost (LTC)  at auction—80%

Loan Terms:

  • 9 month term
  • 4-6 points
  • 12-14% interest
  • Interest only loans
  • Discount for early payment

Documentation:

  • Completed credit application
  • Last two years tax returns
  • Tri-merge credit check
  • Pay stub/financial statements

Loan Restrictions:

  • No land
  • No rehab
  • No trailer houses

Call (855) 418-9352 to get started.