What costs are included in my initial investment?
– Your initial investment consists of your down payment which applies to the loan balance of the property and a processing fee which is used to cover the fees we incur to originate your loan and process the sale contract and loan document paperwork.
What is included in my monthly payment?
– Your monthly payment includes the principal payment, interest, annual taxes, and the loan servicing fee. All of the amounts are listed in your sale contract and loan paperwork and spelled out in a highly identifiable way. We focus on transparency, and there are no hidden fees.
When is my first monthly payment due?
– Your first monthly payment is due approximately 30 days from the time you sign the sale contract and loan documents and submit your initial investment (aka your closing date).
Can I pay the loan off early?
– Yes, you can pay off the loan at anytime. There is no penalty for paying the loan off early.