Frequently Asked Questions
Click the category below:
What is Transactional Funding?
When is Transactional Funding Needed?
Our clients use our Transactional Funding Service for three basic reasons:
Are There Minimum and Maximum Funding Amounts?
We have no minimum funding amount.
What are your Transactional Funding Fees?
1% of the purchase price of the property (minimum fee of $750)
There are NO UPFRONT FEES, NO ADDITIONAL FEES, and NO FEES if the transaction does not close.
Is Credit a Factor to Obtain Transactional Funding?
No. There are no personal financial requirements to obtain Transactional Funding. We do not run your credit and do not require bank statements, tax returns, etc.
Do I have to close with the same closing office?
Straightline requires both the A-B and the B-C transactions occur at the same settlement office or title company. Some exceptions are possible so please discuss your specific situation with a loan officer if your transactions are closing at different offices.
Do you offer Extended Transactional Funding?
Loan Term: 3 months
Credit Score of 700+
Required Minimum Funding Amount: N/A
Maximum Funding Amount: $150,000
Appraisal Required. Closing time is 10-15 business days from the time we receive application
Do you offer Proof of Funds Letters?
We offer free Proof of Funds letters to our clients. Just CLICK HERE to fill out the request form. We will email you the letter in PDF format.
What documents are required?
The A to B Contract
The B to C Contract
Corporate Docs (Articles of Org/Incorporation, EIN Document; Articles of Org)
If the C Buyer (End Buyer) is getting a loan to purchase the property, please send any information from the lender (pre-approval, term sheet, etc)
How quickly can you fund a deal?
Straightline can fund deals as quickly as the same day if all required documentation is provided from both our client and the title agent or closing attorney. However, we prefer to receive your submission and documentation once you have obtained your B to C Contract and you are ready for title to be started.