Faqs – Goldman Funding Partners

Frequently Asked Questions

You will find answers to your questions about our services here

Where do you lend?

We lend in 32 states and growing. Please visiting our lending states page.

How Does the 0% Down Payment Loan for Fix and Flip work?

We fund up to 100% of your purchase price and rehab budget. No down payment required for purchase. Borrowers only cover closing costs.

How Does the No Monthly Payment for Fix and flip work?

Monthly Payments are rolled into the total loan amount at closing. Borrowers will not be required to make any monthly payment for term of loan.

Do you require Tax Returns or W2 ?

No tax returns or W2 required for fix and flip and rental loans.

How quickly can you close?

Closing timeline is as low as 10-20 days.

Do I need good credit to get a loan?

Minimium FICO score eligible is 620.

Do I need cash to close?

Yes, though we fund your project 100% borrowers are required to cover closing costs.

Do I need experience to close?

No experience is required for some products. Consult with your loan officer for more details.

Will you finance loan points?

No all closing costs required to be paid at closing.

How do I start?

All Loans start with a signed term sheet. Once term sheets are signed your loan officer will direct you to next steps

What initial paperwork do you need?

Initial paperwork required are Purchase Contract, Rehab Budget, Leases and LLC documents. Check out our document’s library

What is your typical loan structure?

For fix and flip we fund 100% of Purchase Price and 100% of Rehab Budget limited to 75% ARV. For long term rental loan we fund up to 75% LTV for 5/7/10 or 30 Year Term.

Do you require personal guarantees of the principals?

For most loans we require personal guarantee. For some commercial transactions no recourse loans are allowed.

Will you take a 2nd lien position on a loan?

No 1st lien mortgages only.

Do you offer new construction financing?

Yes, we can fund the purchase of new land or fund existing land owned for development.

Are you a direct lender?

Yes we are a direct lender. For any transactions that we do not fund, we may originate to our lending partners.

How soon can I expect a preliminary approval from Goldman Funding?

We can provide pre approvals within 24 hours from request. Borrower is required to submit a pre qualification request form.

Will you roll loan costs into the loan?

No, borrower is responsible for covering closing costs at closing.

Do you offer discount pricing for return borrowers?

Yes, return borrowers are offered discounts on closing costs and lender fees.

What is the minimum credit score you require for a loan?

Minimum credit score required is 620.

What income requirements do you require?

Our standard loans do not require any proof of income. For specific loan products, we may require full documentation.

Do you ever speak and meet with the borrower directly?

Yes we communicate with borrowers directly to ensure their loan is approved.

What are your lending limits?

Our limits are capped at 100% of Purchase Price for Fix and flip transaction and up to 85% LTV on Rental Loan Acquisition. 75% LTV for refinance.

Will you lend 100% purchase price?

Yes we can fund up to 100% of Acquisition price of the property.

Will you lend 100% of rehab costs?

Yes we lend on 100% on Rehab Cost

Are there any properties you do not lend on?

Ineligible properties are rural locations, churches, or agricultural land.

THE POWER OF PRIVATE MONEY

Goldman Funding provides fix and flip loans & commercial bridge loans for investors purchasing residential and commercial properties. Our in house underwriters will take your deal from pre approval to closing quickly. Our goal is to help real estate investors, business owners and contractors to access capital to purchase and rehab properties.

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Frequently Asked Questions

THE POWER OF PRIVATE MONEY

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