LEIFUR ENTERPRISES, LLC – Frequently Asked Questions
- What Services Does LEIFUR ENTERPRISES, LLC Offer?
We offer a range of services tailored to meet your real estate investment needs. Our offerings include Fix & Flip, Buy & Hold, Refinance, Commercial, New Construction, and Private Money Loans. We also provide Proof of Funds Letters, Collateral DNA Reports, Debt Stack Reports, and access to high-equity off-market property leads so you are not competing with other investors in your area. - What are the benefits of private money lending?
Benefits include quicker access to capital, flexibility in loan terms, no minimum credit score requirements, and the ability to secure financing for properties that may not meet traditional lending criteria. - Are you a Lender or a Broker, and are there fees or commissions involved?
We are both a lender and a broker. If we cannot provide the funding you need, we have an extensive network of lenders and can broker the funds for you. Our goal is to provide investors with the best rates and the fastest closings. If you require 100% funding, we also offer split equity opportunities that cover purchase, rehab, and closing costs. A standard 3% broker fee applies to all loans. - How do you decide the amount to lend?
Our lending is based on the asset under contract. Typically, we lend up to 90% of the purchase price and 100% of the rehab cost. Ask us how you can get up to 100% financing. - I need 100% financing. Can you do that?
Yes, when joint venturing with us, we can provide up to 100% financing. - What Does True 100% Funding Mean?
We lend up to 100% towards your purchase, rehab, and closing costs, up to 70% of the ARV, when a joint venture is established between LEIFUR ENTERPRISES, LLC and the borrower. - How long does it take to close a transaction from start to finish?
Closings typically take about 14 days after all required documentation is received. However, obtaining all documentation can take three to four weeks. The timeline largely depends on how quickly you and your team supply the necessary paperwork. While we can process our part in approximately 14 business days, we recommend allowing at least 30 days to close. - What Does FHA Cap Mean?
The FHA Cap represents the maximum loan amount allowed in the county where the investment property is located. You can check FHA Mortgage Limits here. - What Does ARV Mean?
ARV stands for After-Repair Value, which is the estimated value of a property after renovations are completed. - What Does Asset-Based Lending Mean?
Asset-based lending means that loan approval is primarily based on the value of the real estate under contract rather than the borrower’s credit score. While repayment ability is considered, the primary factor in approval is the property’s value. - What are your Loan Terms?
- Loan amounts range from $30,000 up to the FHA Cap in the county where the property is located. Additional funding solutions are available based on the loan type and property under contract.
- Rates start at 7% annualized interest, with origination fees ranging from 0-3%. No prepayment penalties apply. (Rates are based on credit score, though credit score does not determine loan approval.)
- Loan terms range from 6 months to 2 years for Fix & Flip loans and up to 30 years for Buy & Hold or Refinance loans.
- One loan is approved per applicant until a proven track record is established.
- Do I need an appraisal, and how much will it cost?
Yes, an appraisal is required before closing. Appraisal costs typically range from $400 to $700, depending on the property location. - Is a Licensed & Bonded Contractor bid required?
In most cases, we require an itemized bid from a licensed and insured contractor before processing the loan. - Is my information kept confidential?
Absolutely! Your privacy is our top priority. Any information you provide is completely confidential. We pride ourselves on professionalism, integrity, and respect for our clients.
Still have questions?
Feel free to reach out—we are happy to assist!