Looking for feed back on lender terms.

[Ray A Delfi]

A member of one of my REI groups posted this in the group page. Wanted to run it by BP to see if it passes the sniff test. Please all feed back is welcomed and I'm at no means endorsing this lender. I may use them based on the feedback I receive:

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UNSECURED FUNDING UP TO 400k for Fix/Flip & Rehab Investors

Hi Investor,

We are able to fund you starting from $25,000 to $400,000 in 5-7 days. This is a personal unsecured loan therefore can be used at your individual discretion such as: REAL ESTATE FIX N FLIPS, REHABS, DOWN PAYMENTS, etc.

WHY US:

NATION WIDE FUNDING | NO ARV, BALOON INTEREST, OR UPFRONT FEES (Perfect for New Investors)

$25,000 – $400,000+ (Unsecured, No Collateral Needed) - Will receive funding within 5-7 days - No Upfront Fees - No Application Fees - Interest Rate start at 7% the highest average 15% and loan terms raging from 3 - 7 years.

REQUIREMENTS: | Minimum of 660 Credit Score (All 3 BUREA) | No more than 8 inquiries within the last year | Credit utilization 50% or less | Bankruptcy must be 2 years old|.

OURS FEES: - NO upfront fees - One time success fee of 15% applies after funded

Please email me for additional information or to begin the application process!

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[Ned Carey]

@Ray A Delfi my guess is it is a total scam. How can a lender offer unsecured financing for a 660 credit score? 

It says "No money up front" so I don't know how the scam works but the odds that his is legit are so small it wouldn't be worth a phone call to me.