High Loan to Value
Watershed offers a loan to value (LTV) of 70% of the after repair value (ARV) of the property -- which means you won't have to come up with any cash at closing if you buy the house at a low enough price.
If you have excess loan funds available at closing, you can elect to take cash from closing for working capital (max $2,000), escrow excess loan funds to make your monthly interest payments, and/or reduce the loan amount.
Watershed has ample lending capacity to meet our future needs. We have never turned down a loan or failed to make a draw payment because of a lack of funds.
There is no limit on the number of loans you can make through Watershed as long as you have established a good payment history.
Fast Processing
Fast processing is critical to your ability to buy properties from sellers who want their money yesterday. With Watershed you normally will receive preliminary loan approval on a property within 24 hours. Once preliminary approval is received, we usually can close a loan within 2 days after we receive the title commitment, inspection report, appraisal report, and bids if required by our inspector.
Draw inspections are normally made the day after you request a draw. Draw funds are wire transferred to your bank account the day after the draw inspection is made.
Low Cost Loans With No Hassles
You don't need to furnish income statements, financial statements, or income tax returns to become an approved borrower under Watershed's loan program. You only need to fill out a 1 page "Borrower Application Form"and
mail or deliver it to us with a $25 application fee.
Watershed provides full disclosure of its fees. Others quote a low fee in their marketing material, but have 'junk fees' that can add up to well over one thousand dollars.
Services
We provide more services to inexperienced investors than any other
company. For example, our inspector and project advisor can give you advice and guidance regarding the rehab, update, or remodel of your properties so you don't make costly mistakes. |
