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 does the loan let you do?
In a double close you have agreed to buy a property and you have also agreed to sell it. The purchase often has to be paid before the resale proceeds arrive. Transactional funding covers that purchase, and the resale repays the loan.
Brittco Capital, Inc. is a direct private lender. The loan is for business purposes, on investment property, so you can keep the spread between the two contracts.
What does the fee cost?
The fee is a percentage of the amount funded. 1% covers a same-day close: funded at the A-B purchase and repaid from the B-C resale that same calendar day. 2% covers a resale that closes within 7 calendar days.
Your closer adds title fees and local charges on the settlement statement. The calculator on this site is an estimate, not a quote. Send both dates when you want the price for your file.
Who is the loan for?
It is for an investor with an A-B purchase and a B-C resale on investment property. It is not a loan to the end buyer, and it is not a loan on a home you will live in. If the property needs renovation draws or a longer hold, look at fix and flip or private money. Those files are priced with you.
Where should you go next?
Have a double close on the calendar?
Send the property, the amount, and the two closing dates. Same-day is 1%. Within 7 calendar days is 2%.