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Frequently Asked Questions

These should answer the majority of the questions you will have. In the event the question you are looking for is not answered here, please feel free to give us a call.

1. What are your rates?
Our funds are used for same-day back-to-back transactions. Extended Transactional Funding (ETF) no longer available.
$0-200k - flat fee of $1,500 (NO OTHER FEES AT ALL)
$200k-400K - flat fee of $2,750 (NO OTHER FEES AT ALL)
Greater than $400K – case-by-case basis Request Funds Now!

2. What other costs do you charge besides your flat fee?
Absolutely NONE! Request Funds Now!

3. Do you fund individuals?
We only fund business entities such as Companies/LLCs/Trusts/Inc vs. the funding being in the person’s name (i.e., John Smith) If it is in your name currently, this can often be resolved through an amendment to the contract. Please contact us for any questions regarding this Request Funds Now!

4. Some banks don’t like me to use my company name on the AB contract. Can I use my own name for the deal?
We may have a solution for you. Please Contact Us or email us Shanna.K@DoubleCloseFunds.com with the subject line stating, “How can I use my own name?" Request Funds Now!

5. Why are HUD properties easier to flip than say short sales?
HUD properties have no resale restrictions. You may flip them on the same day vs. being subjected to bank resale restrictions on short sale transactions. For HUD transactions, it is best to represent our funds as a loan vs. cash which has no effect on winning the HUD bid. Lastly, there is no advantage bidding on a HUD property as a person or an entity. We advise to bid on HUD properties as an entity as we only fund entities. Request Funds Now!

6. Do you have 30 60 90 day transactional funding or Extended Transactional Funding (ETF) for 30 days or greater?
No. Extended Transactional Funding (ETF) is no longer available. Request Funds Now!

7. Do you provide a Proof of Funds letter (POF)?
Yes! We provide UNLIMITED POFs as long as you use our funds. Call us or email Shanna.K@DoubleCloseFunds.com for your FREE POF. NOTE: Since we want to protect your interest in the transaction, all calls to verify the POF must be pre-arranged with you, the B investor, on the same conference call as the party who wants to confirm, so we don't inadvertently adversely affect your transaction. Request Funds Now!

8. Do you provide a bank statement to substantiate the POF?
Yes. We provide a Verification of Deposit (VOD) premium service. This may cost a an additional fee depending on the timing. Request Funds Now!

9. What do I have to do to qualify for a POF?
Nothing! Great isn’t it? You may use our POF service as long as you use our funds for closing on your same-day back-to-back transaction. Request Funds Now!

10. How do I get a Proof of Funds letter?
Please call us or email Shanna.K@DoubleCloseFunds.com Request Funds Now!

11. When do I pay the processing fee?
You pay the $250 LOCK-IN fee upfront with the loan application so we hold your funds and have them ready for your closing. Request Funds Now!

12. If the transaction does not close, do I get the processing fee back?
Yes, If we cannot fund For whatever reason.
No, if it is not our fault. When you submit your Funding Request, we allocate funds for you and go through a lot of work to make sure your funding is on time and able to fund quickly. For that reason, we have to charge an upfront fee as to not run our staff ragged chasing deals that have no intention of closing. When your deal does close, you will be credited the $250 LOCK-IN fee towards your flat rate fee. Request Funds Now!

13. Can I have the AB closing and BC closing on separate days?
Our transactions are designed to have both transactions fund on the same day. In the event the closings Do Not occur On the same Day, Or, we don't get our funds back on the same day, there are additional charges. Request Funds Now!

Our typical charge Is 4% of the loan amount. We rebate all but $1500 In the event it closes same Day. The closing MUST be scheduled For the same Day -- If For any reason, the funds are not returned within 1 business day (overnight OK but not over Weekend), the rebate drops To 50% of loan origination, And, interest accrues On a per diem basis.

14. What criteria do you look for to get the transactional funds?
No LTV, no credit check, no appraisal, and no income verification. You only have to have the seller (A), you (B investor) and end buyer (C) in place. Once you get the commitment letter from the C buyer’s mortgage company or proof of funds from your C buyer, you may complete the Funding Request Form

15. How much advance notice do you need to fund a back to back transaction?
For all transactions, it would be best to notify us as soon as possible, so that we can commit to it as soon as possible. For most transactions, 3-4 days is sufficient; for transactions closer to $400K, we will need about 1 week. Request Funds Now!

16. What is the rate for transactional funds greater than $400K?
The rate depends on factors such as the transaction itself, the availability of funds, and the timing of the closing. We could say between 2% and 8%, but it could be more or less. The only way for us to give a definite answer is to evaluate the transaction by having the B investor complete the application in the Funding Request page. We will get back to the B investor with the rates within one business day. A national title company or a closing agent with whom we closed previously is needed to close the deal. Request Funds Now!

17. Can I get transactional funding with no advance notice (same day)?
We may be able to if all the pieces are in order, and we have available funds. Request Funds Now!

18. What type of information do you need to evaluate the deal?
The best way for us to evaluate the transaction is to complete the Funding Request Form. Here, one would specify the A, B and C parties and the disbursing agent which would give us a good understanding of the transaction. Subsequently, we would commit to the transaction or contact the B investor regarding outstanding questions accordingly. Request Funds Now!

19. How long must my company be established before I can do business with you?
The company must be established before signing the closing documents. However, please consider that the company name must be cited on the respective AB and BC contracts. Request Funds Now!

20. What other types of back-to-back real estate transactions do you cover besides foreclosures and short sales?
We can provide funds for HUDs, REOs, FSBOs, any wholesale flips, commercial, residential, and Realtor® (MLS) listed properties as long as these transactions are back-to-back, conducted on the same day, and use the same title company, attorney or closing agent for both closings. Request Funds Now!

21. Do you fund the closing costs?
Yes, we can fund 100% of the AB closing so there would be ZERO out-of-pocket costs for the B investor at closing. Request Funds Now!

22. Do you fund the down payment money?
No, you would need to do this yourself. Request Funds Now!

23. If I don’t have a seller/property to buy or end buyer, can you help me find one?
Unfortunately, no. We only lend to investors who have already found their respective sellers and buyers. Request Funds Now!

24. Do you provide funding for bundled purchases (multiple properties) as one transaction?
Yes as long as it is treated like one transaction - all monies go in one escrow account and are reimbursed within the same day. If we have to process each transaction then it is not a "bundle" anymore and will be treated accordingly. Request Funds Now!

25. Do you fund commercial properties?
Yes, as long as it is a back-to-back transaction and the transactions close on the same day. Request Funds Now!

26. What states do you fund in?
We fund nationwide! Request Funds Now!

27. Can you recommend any specific title companies and/or attorneys in my area to work with?
Of course, as long as we have local contacts in your area. We may also have national closing agents that we can recommend. Request Funds Now!

28. Do you fund the BC closing?
No, we only fund the B investor for the AB closing. Request Funds Now!

29. Can I use my own title company or attorney?
Both transactions have to close with one title company/closing or disbursing agent/escrow agent. More specifically, the disbursing agent for the funds has to be the same for both transactions. As long as your title company or attorney is experienced with back-to-back transactions, we will be fine with that. For larger transactions we need to use our preferred title company which is usually a national title company. Request Funds Now!

NOTE: We could never guarantee that we can fund any transaction because there are issues beyond our control, but we almost always Get it done. If we can't, your sole remedy is a refund of your $250 processing fee.