Current Financing Programs
Asset based investor financing is always available from Active Funding Group, LLC. These products are available on any properties that our investor clients would like to purchase, provided they fall under our “accepted collateral” category including without limitation Trustee Sale properties, HUD properties , pre-foreclosures, short sales, Bank REO’s, distressed sales, rolling options, purchases out of bankruptcy, or other distressed acquisition platforms.
We make a concerted effort to move funding packages through our system as quickly as possible. At times, based upon deal flow, funding may be delayed past our typical timeframe. We have funded loans the same day and within hours when we are able to get our requirements met in a timely way. This activity is generally limited to properties purchased at Trustee Sales where a policy of Title Insurance may not be required. Loan requests are typically funding within One (1) business day, assuming we do not have any unforeseen delays.
. Loan application is incomplete or missing pertinent information to process the loan request.
· AFG in field property evaluator is unable to gain access to the property for inspection.
· The Borrower makes changes in originally submitted information, e.g. Borrower entity, purchase price, loan amount, etc.
· Escrow has not been opened in advance of the loan request and/or title insurance has not yet been ordered (excluding properties purchased at Trustee sale).
· The borrower does not have a valid or executed purchase contract or Trustee Sale bidders receipt for the asset being pledged to AFG.
· Defects in the chain of Title that must be removed prior to loan funding.
: AFG requires interior access to all properties being submitted for financing.
(TRUSTEE SALE PURCHASES EXCLUDED)
AFG requires that all assignment fees (to the extent that any exist) are reflected on the HUD as an assignment fee and not as an integrated part of the purchase price. AFG financing is intended to be used for property acquisition funds only and our loan amount should not include any assignment fees as part of the purchase price
Properties purchased from other sources and funded by AFG:
Promissory Note and Deed of Trust security agreements are to be executed by the AFG borrower at the time of loan funding. The Borrower’s contribution is due and payable at the time of funding.
Borrower equity requirement will vary from transaction to transaction, but typically will be.
The amount of equity required by the Borrower will be determined on a transaction by transaction basis, based upon Active Funding Group’s underwriting guidelines. We do not use a standardized loan to value determination procedure but we do state a maximum “Loan To Value” for consideration of Seventy Percent (70%) LTV. We look at each potential transaction on its merits.
OFFERS OF FINANCING
AFG offers Investor loans that require monthly “interest only” payments as well as an option for Investor Loans which are “interest accruing” meaning that the Borrower does not have to make payments during the loan term and makes all interest payments when the loan is paid off, Also available as an option is our “interest reserve” loan which allows the payments to be made up-front with AFG loan funds.
Pre-Payment: THIRTY (30) DAY PRE-PAYMENT PENALTY
If loan payoff is received within the first thirty (30) day period after loan funding, a minimum of thirty (30) days of interest will be due and payable as a part of the loan payoff.
Extensions may be negotiated at time of loan maturity. The availability of an extension is NEVER guaranteed and is considered on a case by case basis. For more information regarding extensions, please contact Tony Crabill at 602-252-1155 x 142
AFG may is pleased to issue pre-approval and proof of funds letters to assist its Borrowers in the property acquisition process. To request a pre-approval letter or proof of funds letters please CLICK HERE.
AFG has no specific maximum loan amount – all applications are considered for funding regardless of the size of the loan request.
May be limited depending upon several internal company directives.
None, we underwrite our loans based upon the value of the asset only; we do not consider the Borrower’s financial condition.
Name of the Borrower, address, telephone number, cellular number, fax number, e-mail address
Name of the loan Guarantor, address, telephone number, cellular number, fax number, e-mail address
Tax parcel number of the subject property (the collateral)
Address of the property
Name of the Seller
Date of proposed loan funding
Dollar amount of loan request
To apply for a loan with AFG, please submit an application on our website, https://activefundinggroup.com/. If you have not yet set up a username and password, you will need to do so before accessing the application – this does not cost anything and takes only a few seconds. In the event you have any questions, concerns or need assistance with login information or application submission please see Contact Us or the Department Directory for an associate who can help. Thank you.