Fone Payinc.com
Since 1996
Knowing where you are in
the loan process is golden.
Investment Property Financing from $75,000 - $10 Million
Clients Can Apply Direct. Access to private funds, hedge funds as well as the most recent Non QM / asset based loans. Non Doc Loans. Available no monthly loan payments on short term loans, lines of credit and fix / flip properties loans.
Residential Property Financing from $75,000 - $10 Million
Clients Can Apply Direct. Access to private funds, hedge funds as well as the most recent traditional Bank loans as entities utilizing Fannie Mae and Freddie Mac Guidelines; programs include offering financing for VA and FHA . No cost loans option.
Personal Lines of Credit $50,000 - $500,000 Clients Can Apply Direct for Credit Lines based on good credit with bank deposits. Available No payments on short term loans, lines of credit and fix / flip properties loans. These can work like down payment, funds for repairs to properties; includes an additional $5,000 credit card.
WHAT OUR CLIENTS THINK
We have been building our portfolio for years. They take care of our acquisitions and work fast .
- Tina & James Heart
We also utilize credit lines to arrange additional property purchases, while financing every stage of our fix and flips
- Mary Van Den Reich
... Having a multi unit complex and other rental units, it is vital to have a financier you can trust. They have proper strategies with no issues.
- Paul & Susan Taylor
Purchase or Refinance CASH OUT with Highest LTV's
a loan option with no monthly payments
featuring
Clients can apply direct
... Get an approval with only:
approx credit score,
subject address,
primary address,
Name, Date of Birth.
Brokers have a platform
Foreign Nationals
Foreign Investors
APPLY here
Mortgage Product scenarios and options that make sense. Identify first if you have a:
Purchase (with repairs to the property to be completed, is fine) with options of short term and long term financing with overall goals in mind. We provide solutions in all phases of acquisition.
Refinance We also pride ourselves in options for long term and short term for, Refinance rate and term or if you need Cash Out for any reason like repairs.
Get the Funding you need to help you achieve your goals.
We fund loans banks won’t consider.
Many of our mortgage loan products and scenarios are listed individually below.
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Loans up to 75% of the Equity in your Home or Office. Possibly 125% LTV Available with Repairs
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We Have Many Credit Situation Loans
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Short and Long Term Loans
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7 to 10 day Closings
First identify if you are looking to purchase, refinance or do cash out. Second, we provide you more than one option. We help you identify which option and mortgage product makes sense for you. We are an equity based lender and approve applications based on equity and ability to repay the loan, instead of past credit and payment history. In many cases, Borrowers must only have a minimum of 30% equity in their property. However, if there is not enough equity, we may be able to cross collateralize the loan to another property that you own. If you have bad credit or are currently going through a foreclosure or bankruptcy, we may be able to assist you regardless of the circumstances.
Purchase / Refinance Options Must Make Sense to your situation.
Refinancing to Lower Your Monthly Payments
Lowering your monthly mortgage payment can have a positive impact on your budget. If you are among those homeowners whose original mortgage payment has turned out to be too high, refinancing your loan might help. But before you decide if this is the right choice for you, take a look at some of the details.
Potential benefits of lowering your payments
Lowering your monthly mortgage payment by refinancing to a lower rate or extending your loan term can make it easier to pay your mortgage on time every month, while also possibly covering your other debts and expenses. And if you are concerned about your ability to make your current mortgage payments in the future, lowering your payments now can help relieve that pressure.
Refinancing costs
Whenever you refinance, you’ll be responsible for paying closing costs. In addition, it’s common to refinance into another mortgage of the same term, typically another 30-year mortgage, which means you’d be restarting another 30-year mortgage after you’ve already owned your home for a number of years. As a result, you’d probably pay more in interest over the life of the loan. So while your monthly mortgage payments would decrease, your total costs over the long term would likely increase. It’s important to discuss your situation with your licensed loan officer to make sure you’re comfortable with how these costs will impact your overall financial picture.
Your break-even point
The breakeven point is how long it takes for a reduction in your monthly payments to equal the costs of refinancing. If you plan to sell your home before the breakeven point is reached, you probably would not recover these closing costs. For example: If your refinance costs total $5,000, and refinancing will lower your monthly payment by $200, it will take you 25 months to break even on the costs.
Accomplishing your other goals
If you choose to refinance to lower your monthly payments, you may also have the opportunity to make additional changes to your loan at the same time. Depending on your circumstances, you may also be able to switch to a fixed-rate mortgage or borrow from a portion of your available home equity. Talk to your licensed loan officer about what you’d like to accomplish and see what’s achievable for your situation.
Personal Lines Of Credit
What Is a Line of Credit?
A line of credit works like a credit card: You use only as much as you need, and you pay interest only on what you use.
BEV O'SHEA & ANNIE MILLERBERND
Jan. 9, 2020Loans, Personal Loans
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
A line of credit is a loan you use like a credit card. You borrow a set amount of money, but draw only what you need and pay interest only on the amount you use. It’s different from an installment loan, which you repay in full with interest over a fixed term.
Details on lines of credit
Three types of credit lines
" Personal lines of credit can be used for your own expenses, whether to purchase something or cover unexpected costs. "
Lenders determine how much you can borrow by evaluating your credit and other information like income & existing debt.
Personal lines of credit are an alternative, since they are not tied to a property.
How lines of credit work
With unsecured lines of credit for personal or business use, a lender pre-approves you for a certain amount. Unlike an installment loan, you don’t necessarily withdraw the full amount immediately. Instead, you use the funds over time as you need them, and you pay interest only on the amount you use, rather than the full amount.
Personal and business lines of credit can be unsecured or secured. A secured loan requires you to pledge an asset as collateral. Your home is the collateral for a HELOC. Requirements for lines of credit vary by type and lender, but borrowers with good or excellent credit (690 or higher on the FICO scale) have better chances of getting approved at the lowest rates available. Interest rates are usually variable, not fixed, so they can fluctuate.
A line of credit may also have an annual fee, which you generally have to pay regardless of whether you use the available funds.
With a HELOC, you have a “draw period,” which is when you can borrow the money, and a “repayment period,” which is when you pay it back. Some unsecured lines of credit also have repayment terms that are structured this way, says Nessa Feddis, senior vice president and deputy chief counsel for the American Bankers Association.
How a line of credit affects your credit score
Typically when you borrow money in your name, even if your home or business is collateral, the impact to your credit score hinges partly on your repayment of that money. Missed payments are among the biggest factors in a drop in your credit score, so no matter the kind of credit line you’re considering, borrow only if you have a plan to pay it back.
ALTERNATIVES
Unsecured personal loans are similar to personal lines of credit, except you pay interest on the full amount you borrow.
Annual percentage rates on personal loans can be lower than on personal lines of credit, and rates are typically fixed. If you’re confident you’ll use the full amount you’re planning to borrow, a personal loan may be a better option.
Secured personal loans require you to pledge an asset, like a car or savings, to secure the loan. They often have lower rates than unsecured loans, but carry more risk, as the lender can take the asset if you don’t repay.
Business lines of credit
A business line of credit can be used to cover things like inventory or unexpected expenses. The amount you receive depends on qualifications like revenue and how long your business has been active. Many of these loans are unsecured, but lenders may require collateral for larger credit lines. » MORE: Learn about business lines of credit and compare
ALTERNATIVES
are better for large one-time expenses. Unlike revolving lines of credit, a small-business loan gives you a lump sum of cash that you repay over a set period.
Business credit cards tend to have lower credit limits than business lines of credit, making them a better choice for small expenses. But they can come with annual and late-payment fees. A business credit card is a good option for startup businesses.
Learn about available personal lines of credit up to $500 ,000.
Clients & Brokers benefit with lower rates costs & fees.
Niche Market
We are working with a niche... as a new market emerges, funding for single family residences operating as elderly care facilities with surprising rates , costs and fees.
Finally, ELDERLY CARE FACILITIES can get rates in the four's. Highest LTV percentages & non doc loans that are outstanding.
PERFECT TIMING
Clients can now get the same rate as a local bank WHILE not having to make a monthly payment.
Subject: Check this out: Federal Reserve still has 'bazookas left in
https://finance.yahoo.com/news/wall-street-economists-fed-still-has-bazookas-left-in-the-war-chest-154307235.html YOU CAN LOOK AT ABOVE as it relates to FED having lower rates, and not only bringing cost of rate (or base rate) almost down to zero....FED has plenty of other moves or "bazookas in the war chest" to further provide lowest rates in history.
For Investors, lower costs and fees are the result of care-full strategies and market conditions. Simply at the best TIMING for investors who wish to get optimum results.
SOME OF OUR LOAN PROGRAMS
Designed programs and products provide lenders with solutions for a wide variety of borrower needs for home financing.
Near-Prime Loans
Loan programs with enhanced pricing for your most qualified borrowers.
Alternative Qualification
Unique methods to qualify borrowers based on income, employment and assets.
Jumbo Loans
Jumbo loan programs, with features that provide more flexibility in qualifying.
Moderate Credit
Flexibility for borrowers with recent credit events or additional difficulties.
Investor
Products specifically designed for US or foreign real estate investors.
SP A6
FF
SP A5
SP I5
SP I6
SP I3
SP M4
Moderate Credit Bank Statement
SP M3
SP P2
SP P1
Near-Prime Pay Stubs & Tax Returns
SP J8
SP A3
SP S2
SP S1
Super Jumbo Pay Stubs & Tax Returns
Our Loan Programs
Designed programs and products are designed for lenders to solve a wide variety of borrower needs for home ownership.
Click a product to view highlights. Sign up to view product details, rates sheets and more.
Alternative Qualification
Unique methods to qualify borrowers based on income, employment and assets.
Near-Prime Loans
Loan programs with enhanced pricing for your most qualified borrowers.
Near-Prime Pay Stubs & Tax Returns
Jumbo Loans
Jumbo loan programs, with features that provide more flexibility in qualifying.
Super Jumbo Pay Stubs & Tax Returns
Moderate Credit
Flexibility for borrowers with recent credit events or additional difficulties.
Moderate Credit, Bank Statement
Investor
Products specifically designed for US or foreign real estate investors.
So many business functions and solutions. Lets see how Fone Pay can help yours today!
So many business functions and solutions. Lets see how Fone Pay can help yours today!
CLIENTS CAN APPLY DIRECT
Get Personal Line of Credit $50k
Get Investment Property Loans 2-3 %
While Highest LTV's Available 125%
We offer Commercial Real Estate Services
with Commercial Real Estate Loans
CRE Financings
We can help you finance commercial land construction projects of nearly any size. We focus on ventures ranging from $5 million to over $1 billion. Our mission is to provide creative financing that is customized to fit your particular financial situation. Your construction loan can also be converted into a permanent loan upon completion of the project. We offer rates beginning at 5% fixed. In addition, we offer commercial purchase loans for nearly any type of structure or land you’re looking to acquire.
Equity Loans
One of the most challenging factors for developers and contractors is raising the equity necessary to even qualify for a construction loan. We can provide you with the equity you need to fund your project. We have the ability to lend a combination of equity and debt ranging from $5 million to $2.5 billion. Upon review of your project, your credentials, and your performance history, you’ll receive a letter of intent for both the equity and debt loans.
Project Types
We finance a wide variety of commercial and construction projects. We consistently fund condominium, retail, office, multifamily, industrial, hotel, casino, and conference center developments. We regularly finance larger projects including professional sports stadiums and arenas, concert venues, power & ethanol plants, as well as city and state infrastructure projects.
Business Line Of Credit (These Are Different Than Personal Lines of Credit)
A business line of credit is a flexible loan, in which a lender and a borrower agree to a limited amount of capital that the borrower can withdraw at any time. It is mainly used to help balance out a company’s cash flow. As the gap between payables and receivables widens for many companies, a line of credit serves to provide a level of consistency. These funds are generally intended to address short-term working capital best paper writing service needs, such as payroll, inventory purchases, funding future projects, or unexpected expenditures.
A line of credit provides a level of flexibility that a regular business loan doesn’t. There is no fixed repayment schedule or term. With a business line of credit, you pay interest only on the portion of money that you borrow. In addition, there is no monthly payment until the loan is used.
The balance in a line of credit is revolving; it allows borrowers to use the funds, repay them, and then spend them again. In this manner, lines of credit are very much like credit cards. While credit cards are easier to get than credit lines, they come with significant disadvantages. Credit lines typically have much higher limits and lower interest rates than do credit cards, making them a better fit for large expenditures and significant payables incurred by businesses.
Loans Up To $10 BILLION
Utilize Modern Methods when selecting in 2021
with LOWEST RATES EVER.
SBA Loans Direct.
We can submit your SBA Loan App as your main point of contact and make things easier.
SBA LOANS Made Simple. You can now file your SBA Loan with us and we can assist you in faster closings. Get to the after, faster.
Now Small Business Administration Loans can be provided with help from a professional who knows the guidelines and standards of working through the SBA Loans that are currently offered in 2020. Closing Times and other items to consider during the overall process of getting your SBA Loan are easier with a professional working with you. Having a professional walk you through your property and business request can be vital to your success with a small business loan. We can assist you.
Let Us Know In Applying, If You Are Interested in SBA LOANS as one of your offers.
SBA LOAN OPTIONS MADE EASY. ASK US HOW.
MORTGAGE SERVICES
OUR FUNDING LINES ARE STILL OPEN !!! As Many Non QM Lender' Stop Their Loan Fundings. Brokers and Clients scramble to adjust. LOANS $75 K TO $10 MM
Personal Lines of Credit $50 k each line.
Many Non QM NO DOC Loans and Regular Qualifying such as Tier One Lenders like Traditional Banks .
HEDGE FUNDS Can offer you asset based lending for your property and have higher LTV's than hard money loans. Jumbo Loans and High Cash Out Loans Available at lowest rates in history.
Many Loan Options To Reach Your Goals.
Market Conditions Change For Borrower.
Investment Single Family Residence
Restructuring
Fix n Flips for 1-8 Units including SFR's
Personal Credit Lines not tied to a property
8 Plus Units, Multi Family, Mixed Use, Commercially Used Buildings, Warehouse, Or Other Zoned Properties, 1031 Exchange and Other's Category
Bridge Loans
Commercial Real Estate ( CRE)
Construction /
Apartments or Condotels
Virtually All Properties Have Recent Changes With Market Conditions To Benefit The Borrower. Stay Informed. Stay Safe.
