Guides for the double close.

Which questions do the articles answer?

• What is transactional funding?

  Transactional funding is the short business-purpose loan that pays for your purchase so you can resell the same property. The fee is 1% of the amount funded when the resale closes the same day, and 2% when it closes within 7 calendar days.

• What is a double close?

  A double close is two contracts on one property. You buy from the seller, then sell to the end buyer. Brittco funds the purchase, and the resale proceeds repay the loan.

• What is the difference between the same-day fee and the seven-day fee?

  Count calendar days between the A-B funding date and the B-C resale date. The same day is 1%. A resale within 7 calendar days is 2%. Enter both dates on the request form and the matching fee appears with the file.

• What is earnest money (EMD) on a double close?

  Earnest money, or EMD, is the deposit under the purchase contract. The contract states the amount. If you already have a receipt, include it with the A-B contract when you upload the file.

• Which documents does a transactional file usually need?

  Bring the A-B purchase contract, the B-C resale contract, a government-issued photo ID, and the closer’s wiring instructions. Add entity documents when an entity is the buyer. A complete package is what lets the wire get coordinated.

• Does Brittco make loans on homes people live in?

  Brittco Capital funds business-purpose loans on investment real estate. The property is one you will not occupy, and the request form confirms that before the file continues.

• How does the transactional fee calculator work?

  Type an amount and choose same-day or within 7 calendar days. On the worked example of $150,000, the same-day estimate is $1,500 and the seven-day estimate is $3,000. That is the 1% and 2% fee schedule. The result is an estimate, not a quote.

• What is a proof-of-funds letter?

  When a seller asks you to show that purchase money is available, a proof-of-funds letter can come from a file we are reviewing. The letter belongs to that file. It is not an approval. Start with the contracts and the closing dates.

• How is a fix and flip loan different from transactional funding?

  Transactional funding is the short loan for a double close: 1% the same day, or 2% within 7 calendar days. A fix and flip loan buys an investment property and releases rehab money in draws after the work is inspected. Send the purchase and the budget, and we price that file with you.

• What are Brittco’s private money and bridge loans?

  A private money loan is a short-term, asset-based loan for buying or carrying investment property. A bridge loan covers the time until a later sale or refinance. Send the property and the purpose, and we price that file with you.

• How do you request funding from Brittco?

  Open Request Funding, enter the property state, the amount, and the two closing dates, and confirm the loan is for investment property. Every state marked Yes continues to the lending portal or to email. Same-day funding is 1%. A resale within 7 calendar days is 2%.

• How should a title company or closing attorney work a Brittco double close?

  Brittco is the lender on the investor’s purchase. The closer confirms the double close, receives the purchase wire, and pays the loan from the resale. Same-day payoff is the 1% fee. Payoff within 7 calendar days is the 2% fee.

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