General Funding Corporation

Terms & Conditions

Online Application

You are not required to furnish W-2's, financial statements or income tax returns to get a loan. Your stated income and the ability to repay the loan based on your project are considered in approving you as a "Borrower".

  • First liens only.
  • Investment property only (No owner occupied properties).
  • All loans are based on After Repaired Value (ARV).
  • A lenders title policy is required.
  • No appraisal fee – We evaluate the property value in-house.
  • An appropriate insurance policy is required for the term of the loan.
  • Minimum loan amount $50,000, maximum $1,000,000.
  • Construction loans for the building of single family houses are readily available.
  • We lend aquisition funds and construction money in draws.
  • We do not charge inspection fees for the draws.
  • We fund the draws within 24 hours of inspection.

 

RATES:

Rates vary from 9-18% per annum, interest only, depending upon collateral and loan structure.
6 to 10 points based upon the length, size and risk involved.

 

COLLATERAL:

Real estate only

 

TERMS:

6 months minimum and 2 years maximum.

 

PAYMENTS:

Monthly, interest only.

Our Region
Washington DC
Maryland
Virginia
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©General Funding 2008