Full Force Funding offers several loan programs to meet your various investment financing needs. Below are some of the commonly asked questions about these programs.
We offer loan solutions for real estate investors of all types, long-term and short-term, residential and commercial. Whether you are stabilizing an apartment complex, building a spec home, or taking over a cash-flowing neighborhood center, we have something for you. Check out the “Programs” tab of our website to learn more.
We all have to start somewhere! We do lend to first time investors, although in order to reduce the risk, we will lend at reduced leverage. This means you’re likely to need a 20-25% down payment for a residential property and a 30-35% down payment on a commercial property.
While each loan is circumstantial in nature, there are a few minimum requirements that must be met. In order to qualify for financing, we like to see a mid FICO score above 620, although the higher the score the better. When it comes to your background, any financial-related crimes or felonies at any point in time, or bankruptcies or foreclosures in the past 5 years, will disqualify you.
While those are the minimum requirements, we do look at the loan file holistically to assess risk and determine qualification.
We can provide financing in any state you choose to invest in, but do have a strong focus on California, the Pacific Northwest, Texas, Florida, Illinois and the Northeast.
Our short term bridge loans are not reported to credit agencies. If we’re working together on a commercial loan or financing for a rental property, your loan may be reported to the credit bureaus. We have a variety of investors that fund these types of loans, therefore not all are handled exactly the same from this perspective.