• LTV: Up to 70%
  • Loan Term: 12 months
  • Interest Rate: 12%
  • Annual Interest Rate: 12%
  • Points: 2
  • Pre-Payment Penalty: None
  • Property Analysis Fee: $500
  • Pre-Payment Penalty: None
  • 6 mos. Interest Pre-Paid: YES
  • 6 mos. Insurance Pre-Paid: YES
  • 12-Month Term
  • Acquisition Only
The Process

We’ve made the process easy for you – apply and pay fees online. It’s safe & secure.

  1. Submit a credit authorization form and pay the $100 credit application fee online by clicking here. (you will also have the option of submitting a property analysis request form and pay both fees at the same time)
  2. We will contact you with the status of your application within 72 hours.
  3. Please fax or email us the executed purchase contract and RIB sheet. Submit a property analysis request form (if you have not already done so in step 1) and pay the $500 analysis fee online by clicking here.
  4. Once our property analysis report is complete, we’ll call you to review the final numbers for your approval.
  5. Loan documents and funding are sent to the title company at closing.
The Process
After Repair Value $100,000.00
Repairs Needed $(15,000,00)
As-Is Value $85,000.00
70% Maximum at Closing $59,500.00
RDL’s Loan Fee $(1,190)
Estimated Closing Cost $(2,000)
Earnest Money Down $300
Contract Price $(55,400)
Left-Over Cash? $1,210
Total Loan Amount $59,500
Monthly Interest Only $595
Per Diem $22.31
6 months Pre-Paid Interest Collected at Closing* $3,570

Thank you for your interest in Red Dirt Lending! Unfortunately, we are not lending at this time. Please check out our sister company at www.rmaclending.com to review their terms and conditions.