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Thank you for your interest in FundAFlip.com. Below is our FAQ page. If you have any further questions, please feel free to contact us.
Does my credit or income affect my ability to use your funding?
NO! We do NOT have any type of credit or income requirements associated with our
program! Unlike others, we do NOT base fees or approval on your background or
current financial situation. Everyone qualifies for funding! It’s the deal that counts.
Do you have a preferred Title Company, Closing Attorney or Escrow Agent that I can
work with?
Yes! If you need a referral, we have a vast network of closing agents that we have worked with
previously, to help close your transactions. By using our preferred partners, your deals will
close faster and with ease! Sure, you can still choose your own closing agent; whether that is a
title company, closing attorney, or other escrow agent. We will verify their credentials prior to
closing. Regardless of whom you choose, we will be here to work with them to ensure a smooth
and seamless closing.
Why, in some cases, do I need to use two different closing agents for a simultaneous
closing?
In many cases, the bank will mandate a closing agent to facilitate your purchase. Generally, these
closing agents are under contract with said bank and are limited in their capacity to conduct
simultaneous closings. In this situation, we suggest utilizing a second closing agent for your
resale transaction with your end buyer. It does take slightly more coordination, but in the end, it
gets the job done!
Do you provide funding for more than one day?
YES! We provide transactional funding to accommodate all of your wholesale (flip) needs! You do
have to have a committed buyer lined up though and the deal needs to make sense. Keep in mind
that this is not hard money. If you’re looking to do a rehab, or close now and find a buyer later,
we'll have to pass. However, we can offer a great referral!
Are your Proof of Funds Letters accepted everywhere?
Yes, our Proof of Funds Letters are ACCEPTED EVERYWHERE. Our Proof of Funds letters are
provided on official letterhead including my contact info. So, on the occasion when an agent or
bank representative requests a Verification of Deposit, or VOD, in the form of a bank statement,
we will be happy to send it on your behalf. When faced with this, just ask them to call, or better
yet, send an email to the address on the POF letter, and we’ll get it to them without delay. We always
respond expeditiously to support you so that you can do more deals that need my funding. We
want to fund your deals. That’s why we're willing to send a copy of our bank statement (with the
account numbers crossed out of course) to a complete stranger. Funding deals is where we make
the money! So, we’ve got your back!
What information do we need to provide for the Proof of Funds Letter?
We have two options. In either case, the letter will be generated in your name, your entity's
name, or both. If you desire a property specific letter, please be ready to provide the address
information for your subject property and amount required. For a blanket letter, only an amount
required is necessary.
How soon can I obtain a Proof of Funds Letter?
You are able to generate your own Proof of Funds Letters on demand at anytime from anywhere
in the world where you have internet access. Once you’re part of our program, you will have
IMMEDIATE access to Proof of Funds via a unique personal account created just for you!
There is no submitting a request and waiting for a response. Simply log in to create all you need.
What is the cost for your transactional funding?
We offer the most competitive rates in the industry. We do NOT charge any type of application
fee and there are no minimum amounts required with our funding. You only pay for what you
utilize and it comes from the proceeds of your sale. We absorb all administrative, wire, and
processing fees!
Do you cover closing costs?
Yes, you may request any amount necessary to cover your closing costs and any other
fees associated with your transaction. This helps to limit your out of pocket expenses.
How much funding may I request?
We will fund amounts up to $600,000 per transaction. There is absolutely no
limitation on the number of deals we will do for you. If you can flip it, we will fund it!
What if I am having trouble with my title company in regards to utilizing your funding?
Please fee free to contact our Funding Team directly for assistance. We are more than happy to
work with the title company in facilitating your closing.
What about FHA title seasoning?
FHA recently lifted the 90 day seasoning requirement.
What if my buyer is financed with a conventional mortgage?
No problem! Whether your buyer is financed through FHA or a conventional lender, as
long as they are pre-approved with credit and income verified, we will be happy to fund
your deal.
Once I have a deal on the table, how do I request the transactional funding?
Provide us with your basic contact information to confirm your membership status and, upon
verification, we will provide the forms required for closing.
