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    Transactional Funds - What Is Transactional Funding and How Does It Work?

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    dmovid01

    by dmovid01

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    http://www.REIClub.com - Here’s a Definition of Transactional Funds and How to Use Transactional Funding For Your Back-to-Back Closings.

    What is Transactional Funding?
    Also referred to as: flip funding, double close funding, bridge funding, back-to-back funding, simultaneous funding, gap funding
    - Short term loan finance the A-B side of a short sale or REO wholesale transaction.
    - There is no credit check or income verification required.

    How does the process work:
    - Identify the property of interest
    - Request Proof of Funds (letter) - http://fastinvestormoney.com/proof-of-funds/
    - Execute buy and sell contract
    - Request funding
    - Submit transaction documents
    - Lender Review
    - Loan approval
    - Funding
    - **Extended Funding - 30-day holding period
    - 90-day Seasoning Rule - expired in Feb.

    What it WON’T Fund:
    - Rehab Projects (Fix and Flip)
    - Earnest Money
    - Escrow Deposit

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