Fone Payinc.com
Since 1996
Knowing where you are in
the loan process is golden.
CLIENTS
" You have got to see how with no cash of your own down, you can produce a tidy positive cash flow and NOI - to believe it. "
 |  |  Our Real Estate LLC Holdings are doing so well, we got to travel to the Florida Keys this year. Here's to celebrating 2021 being better than 2020 !!! |
|---|---|---|
 Love My Investment Portfolio out performing what both my CPA and Broker anticipated. Loving 2020 !!! |  We started with a 1-4 Unit and arranged repairs, raised rents and closed in two weeks. Two loans to accomplish a goal where we receive triple the schedulled payment. |  I purchased an Elderly Care Facility (sfr) with my own money down and I now have a $28k / mo. income. |
 We have a LLC where managing members can sign for our company acquisitions, eventhough they are also another LLC Entity also. Our $24 MM Loan Pipeline Annually is providing large gains for our investors. |  We do Construction Loans, so having clients who wish to buy investment properties that are already built (improvements needed), it was our delight we could broker their 8 property acquisitions. |
Spotlight on our client's acquiring a performing asset, an Elderly Care Facility
A Clients Inspiring
" I had been through MANY options to buy an elderly care facility... that is relevant in the non qm or even regular market sectors TODAY.. Its completely different actually funding these without your own cash ".
I'm so impressed with the remote access or that everyone is available.The SBA route entails SBA going on title to ALL of your properties, now and in the future. In comparison, lower costs - still got a great rate - and no encumbering all my investment and personal real estate properties.
The SBA route offered an approval where we could get acceptable costs, decent rates - however we would close in months. It was already a concern of timing where we could get licensed up and caring (with payment) could begin. That was going to be months before we were cash flowing. What a better option we chose!
You can look at the SBA loans options with Fone Pay as your single point of contact. Tell us if you want an SBA Offer as an option as well.
Clients can apply direct
APPLY here
... Get an approval with only:
approx credit score,
subject address,
primary address,
Name, Date of Birth.
Hundreds of clients with help given to many...
FonePayinc.com
My business can also rest easy now that we just had a commercial closing. Restaurants are tougher to do with competitive rates if you are credit or income challenged.
" Whenever I want, I can check on my loan status, or open another location."
The process was completed and we are open. I am very much appreciative of
how I can also easily get up to date information. I like to travel and even my International clients love that they can obtain legit, first time property purchases in the US. Mortgages made easy.
We also have Foreign National and Foreign Investor programs.
knowing where you are in the loan process golden.
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 preapproves 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
Small-business loans 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.
I run a business and am currently writing down my income... so my tax returns do not show the income that I needed to close on a few properties.
" It really is nice to have great loan terms and to
have your loan team
be available while
they're processing your
loans. They're great and you really do have information at your fingertips anytime. Its nice that people really spend so much time on their phones in this case :). "
You don't give up control of your client's personal data... In fact, people prefer to get Text Alerts - just like their social media - it is done on the phone often and everyday.
Utilize rebate from your investment property to help others. GIVE BACK by making a tiny donation to a deserving individual, anonymously. Inspiring & Tax-Witty. Kind.
TESTIMONIALS from
Fone Payinc.com Since 1996.
Text and SendTM.
Patent pending. Copyright.
..." The bills had piled up and when I learned that someone Needed help to pay a specific bill, I PAID IT FOR THEM - to the place directly. The outcome was the recipient was able to get the job, and keep their family afloat. I know I helped them, myself. I know where the money went and how it was spent."
Signed, Happy Donator Port St. Lucie, Florida USA
Personal Testimonials have granted permission to be contacted.
“... I had a moment in my life where the very unimaginable happened to me... I needed help to have funds for the burial of my daughter...WOW, I am so gratefull someone was there for me. I did receive $500 in donations. Someone paid my bills directly...Thank you! " Signed, Gratefull Recipient Huntington Beach, California USA
Personal Testimonials have granted permission to be contacted.
FonePayinc.com