Loan Programs

The rates posted below are typical, however your rates, terms and fees may vary as loans are approved on a case by case basis.

Owner Occupied Loans up to 80% LTV

Investor Loans up to 70% LTV

Up To 100% LTV With Cross Collateral


Purchase or Re-Finance


30 Year Fully Amortized Loans – No Balloon

No Pre-Payment Penalty


ALL LOANS REQUIRE $1920 IN FEES to eMortgage Inc. to cover Application fee, Underwriting,  Loan Processing , Document Preparation and Lender Inspection .  Borrower has option to pay “points” to buy the rate down by paying a Loan Origination fee of 2 to 6 points (2 to 6% of Loan Amount).

100% FINANCING AVAILABLE if borrower has an additional property that is free and clear or property that has significant positive equity (it’s worth considerably more than is still owed), it can be pledged as additional collateral (aka Cross Collateralized Loan).

30 Year Fully Amortized Loans – No Balloon

No Pre-Payment Penalty

Purchase or Re-Finance

LTV Interest Rate Loan Origination Fee
70-80% LTV 11.99 6 points ( $3,000 minimum) + $1,920
  12.99 4 points ( $2,000 minimum) + $1,920
  13.99 2 points ( $1,000 minimum) + $1,920
  14.99 0 points + $1,920

LTV Interest Rate Loan Origination Fee
60-69% LTV 10.99 6 points ( $3,000 minimum) + $1,920
  11.99 4 points ( $2,000 minimum) + $1,920
  12.99 2 points ( $1,000 minimum) + $1,920
  13.99 0 points + $1,920

LTV Interest Rate Loan Origination Fee
59% LTV or Less 9.99 6 points ( $3,000 minimum) + $1,920
  10.99 4 points ( $2,000 minimum) + $1,920
  11.99 2 points ( $1,000 minimum) + $1,920
  12.99 0 points + $1,920

Fix & Flip Investor Loan

INVESTOR FIX AND FLIP 14.99% 0 points + $1,920
 Up to 70% LTV – 1 YEAR INTEREST ONLY

Up to 100% LTV Available With Cross Collateral ($975 additional fee)

  RENOVATIONS INCLUDED PROGRAM
below re: financing of
renovations and improvements.
   

Our Loan Programs Offer the Following:

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE

Down payment: 30% (Investor) or as low as 20% (Owner Occupied).
Up to 70% or 80% of appraised value
Up to 100% financing with a 2nd free and clear property as additional collateral.

REFINANCE

Up to 65% of appraised value
Up to 100% financing with a 2nd free and clear property as additional collateral.

Hard Money Lenders With No Money Down

100 % LOAN to VALUE LOANS (using Cross Collateral)

100% financing hard money loans with no money down are available with “cross-collateral”, where borrower allows lender to be secured by equity in an additional, usually, free and clear property. For example, there is a property you want to purchase for $100,000. You don’t want to dedicate the resources to the down payment or just don’t have it. You own another property that is worth $80,000 that is free and clear. You have $80,000 worth of equity. Brad Loans is able to loan you 100% of your purchase price (no money down) for the new property you are buying, as we would use both the property you are buying, as well as the property you already own,  as collateral. You are pledging the equity in your additional collateral as additional security for your loan in lieu of putting up a cash down payment.The cost for this feature is a fee of $975.

LOAN COSTS

In addition to loan origination “points” there are $1920 in other eMortgage loan fees which include the following:

Loan doc preparation, Underwriting, Loan Processing, Lender Inspection, Application Fee. Does not include title fees, appraisal, or pre-paids.
*Remember to set money aside for your title fees, escrow fees, pre-paids for 1st year insurance and initial deposit in to impound account for future taxes & insurance, account servicing set up fee, prorated interest, appraisal & other typical closing costs. These typical closing costs—separate from loan fees—usually add up to about $3500 or so.

IMPOUND ACCOUNT REQUIRED

Monthly Payments to include 1/12  taxes and insurance + an estimated $30 account servicing fee to loan servicing agent (we currently use Evergreen Note Servicing).

401(k) and IRA PURCHASES FOR INVESTORS

Tax Free and/or Tax Deferred Profits !
Use your 401(k) or IRA funds for a down payment and let BRADLOANS.COM finance the balance.
Make 25% to 100% or more return on your down payment investment tax free or tax deferred. Example: you buy a home for $100,000, put $30,000 down, resell for $130,000, you made a $30,000 profit on your $30,000 investment, and best of all, your profits are tax deferred, or if in a ROTH 401(k) or ROTH IRA, your profits are tax free! (consult your tax advisor).

RENOVATIONS INCLUDED LOAN PROGRAM

When purchasing properties for the purpose of flipping them you can finance the cost of renovations into the loan. Up to 70% of renovation costs can be rolled into your loan on any of the loan programs above. Cost: $575. Roll RENOVATION COSTS into your PURCHASE LOAN based on renovation cost and ARV (After Repair Value) appraisal. Renovation cost loans are done on a case by case basis. Below is an example to give you an idea of how it works.

  • We fund up to 70% of total of purchase price and estimated renovation costs
  • We release up to 70% of purchase price at Close of Escrow
  • We release financed renovation costs upon completion of renovations.

Example:
$70,000 purchase price + $30,000 estimated renovation = $100,000 total acquisition cost.
70% of $100,000 = loan amount of $70,000

Details of the above example:

$30,000 down ($30% of $100,000)
+        $1,920 eMortgage flat fee for 1 year Interest Only Loan program
+        $3,500 estimated 3rd party closing costs & pre-paids
+        $575 Renovations Included Program fee
   $35,995 Total Cash out of pocket from Borrower to COE in this example.

$70,000 BRAD LOAN is fully funded to title at close of escrow.
$49,000 70% of purchase price released at close of escrow
$21,000 remaining loan proceeds HOLD-BACK in escrow RELEASED to borrower upon COMPLETION of renovations.


Fill out our 5 minute ONLINE APPLICATION We will get back to you within 24 to 48 hours (often sooner) to discuss your BRADLOAN application.


SPECIAL FINANCING on SUPER HOMES!

See our Properties page for special lower interest rate loans, reduced down payment requirements, as well as extended terms on BRAD LOANS secured by our inventory of specially renovated Brad Homes. We have some excellent properties that have lower interest rate Seller Carry-back financing with no loan fees. Many of these homes are total upscale renovations and MOVE IN READY.

Rates, terms and fees stated herein are for Real Estate and Mortgage Professional use only. As an example, a $200,000 loan at a 60% LTV at a rate of 9.99% amortized over 30 years has an APR of 11.457%.  APR cannot be determined until loan costs, determined by the specific and various terms of a particular loan, are calculated in to the equation. All fees quoted herein for the numerous loan programs are typical estimated fees to demonstrate an example of various loan scenarios we may create for a borrower’s special needs. Actual fees and APR may vary due to specific circumstances. Rates, terms and fees listed herein are subject to change at any time without notice.

FILL OUT THE LOAN APPLICATION ON THIS WEBSITE. We will call you to let you know if you qualify.

Call today to discuss your specific loan options with Brad and his team!

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