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Private Owner or Seller Carry- Back Mortgage Notes

If you sold a property and took back a mortgage, deed of trust, or land contract, and are now collecting payments from the buyer, you have created a seller/owner carry back note.  We Buy Seller Financed Notes Nationwide. We Pay Cash Quickly.  Our relationships with a network of the industry's largest and wealthiest note buyers in North America have allowed our clients to receive top dollars for their notes quickly. Contact us via phone, fax or fill out our online request forms for a quick, confidential quote and see just how much your note is worth today!

Need Money for:

• Retirement
• Taxes
• Investment opportunities
• Expensive medical care
• Vacation or college tuition
• Unexpected financial changes
• Peace of mind...being free from the worry of receiving late payments or having to foreclose on the buyer
• Accounting nightmares, IRS regulations, and paperwork hassles
• Anything

TYPES OF NOTES WE PURCHASE

• Single Notes

• Seasoned Notes

• New Notes (Call us 1st before creating...very important!)

• Portfolios of Performing and Non-Performing Notes

• First Liens

• Seconds Liens (85% LTV or less)

• Balloon Notes

• Real Estate Mortgages

• Contracts for Deed

• Land Contracts

• Deeds of Trust / Trust Deeds

• Partial Interest

•  Large Notes (Individual Notes of $1mil+)

• Small Notes (Min. $10K)

• Full or Partial Note Purchases

Purchase Options

REALTORS, INVESTORS, BUILDERS, RE-HABBERS, FSBO's
Use our Temporary Seller Financing strategies to get more deals done ...more money . . faster closings, with far less hassle.  See our underwriting reference at the bottom of this page.

No Obligation Confidential Quote

You can receive a "no obligation" confidential quote on your private carry-back mortgage note from Daily Capital Funding by simply completing our note request form (Adobe Acrobat Reader Required) and faxing it to our underwriters.  A representative will contact you within 24 hours to begin processing your request.   If you have difficulty downloading our forms, you may also request a quote by mail or use our online request forms.

Attention! Real Estate Professionals and FSBO Sellers.

While owner carry-back mortgages can often provide the catalyst to get the deal done, many sellers are reluctant to hold mortgage paper for lengthy periods of time.  Before you structure your deal, contact us regarding how to make your private mortgage attractive for resale at a later date if necessary.

  Recommended Real Estate Investor Underwriting Guidelines

Attention Real Estate Investors and Rehabbers! Wondering how best to structure your note? Blow are some guidelines that will allow you to create a note which can be sold for maximum value. Depending on your borrower's credit score and the collateral type, you may be able to create a note allowing a down payment as low as 5%. Keep in mind that these guidelines are for single-family stick built homes.

 Minimum Borrower/Buyer & Property Requirements (Subject to change without notice):

• Owner Occupied credit score > 500; Non-Owner Occupied credit score > 625
• No foreclosures within past 3 years
• No bankruptcy filings within past 2 years, 1 year+ dismissed, max 2 lifetime
• Debt-to-income (gross) ratio not to exceed 50%
• Minimum household income of $1,500/month (gross)
• Property renovation is complete and in a workman-like manner
• Sales price not to exceed appraised value (after repairs)
• Minimum: 800 square feet, 2 Bed/1 Bath, $50,000 repaired value

  Underwriting Matrix:

		Split Loans
FICO Score	Min. Down	1st LTV	2nd LTV	Interest Rate
500-549	20%	80%	--	11.5%
550-570	10%	80%	10%	11%
571-590	8%	85%	7%	10%
591-610	6%	85%	9%	10%
611+	5%	90%	5%	9.25%
Non-Owner Occupied
625-650	10%	80%	10%	10%
651+	5%	85%	10%	9.5%
(seller financing < $30,000, considered on a case-by-case basis)

 Additional Factors Potentially Affecting Underwriting:

• Employment history of 1 year, or 3 years in same industry
• Currently delinquent child support
• IRS liens, garnishments, unpaid property taxes, charge-offs, and other judgements
• Trade lines at least 6 months old as reflected on credit report
• Last 12 month verified payment history on existing mortgage or rental
• Stated income considered if owner occupied and all parties signing note/application

Primary wage earner may qualify alone if verifiable income supports debt-to-income ratio. Spouse must sign security instrument (i.e. deed of trust, mortgage, etc.). If a combined application is needed to support debt-to-income requirements, Experian FICO Score represents average of combined reports (no more than 30 days old) with lowest credit score not to exceed 25 points less than the combined average.

Example A: 2 applicants with individual credit scores of 600 and 550 use an average score of 575.

Example B: 2 applicants with individual credit scores of 500 and 700 must use a score of 525, rather than the 600 average. No score = 550.

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