free proof of funds letter

[Suzan Suzan]

hi.. how can apply for proof of funds with no address required.  

thanks much newbie on board

[Linda Smith]

Originally posted by @Paul Sorgi:

I love posts by people looking for seedy ways to look credible.

 Seedy??
Honestly I don't get a lot of the commenters on this post. It's like y'all are all newer newbies than Susan says she is. No agent that you do not already have a great relationship with AND who understands the nature of REI and flipping (RARE) is going to send your offer to the owner without a POF letter. None. Nadda. Zip. Zero. Go ahead and pick any house off of Redfin which has a "start an offer" option. You will get a message back from the agent saying they need a POF letter before submitting the offer to the owner. You can use any real estate site but redfin is faster.

The reality is that it's based on a contingency. The investor looks at property , makes an offer contingent upon approval and inspection. Maybe the investor just got burned on a house with a faulty foundation and does not want to mess with any house with foundation problems. They can make the offer - contingent upon inspection. Investor gets contractor to inspect and give a scope and a price for rehab. The rehab costs are going to exceed the avg list price for a comparable home in the area so guess what? NO DEAL. Nevermind my offer. Forget it. Walk away. Oh and it has a cracked slab? RUN! A HML and a PML will not lend money on a property that, once inspected and scope price given, will not turn at least X% profit because they are not in the business of lending so they can lose money on bad deals.

All POF letters that are not your own money are CONTINGENT. That does not mean they are seedy or fraudulent. It means they are prudent.

HML's and some PML's also require an appraisal and if the house does not appraise for the amount requested, the borrower either has to come up with the difference or it's not something the lender will fund. Also, this is because they are prudent, not seedy. So if a deal falls through after a POF has been provided, it's because it wasn't a good deal. Y'all are funny to act like the seller and selling agent are not hiding anything, because if there are serious problems, they more than likely are hiding it in non-disclosure and claiming ignorance.

On top of that, even seasoned investors do not always use their own money to fund a deal. In fact they rarely do because they typically have about 7 to 10 deals going at the same time and that, my friends, is a lot of Snapple. I am sorry for Susan that she received a lot of unprofessional, bad advice and no doubt lost out on making money off her deal.