Visio Financial Services

[Dawn Anastasi]

Just heard about this company and not sure if they are new or existing. They provide financing for REO/distressed properties. Has anyone used them to finance a property?

Their website reads:

5 year fully amortizing loan
No credit check
No income verification
No prepay penalty
Foreign nationals eligible
6% seller contributions allowed
Just 35% down payment required
Appraisal required and property must appraise for at least the sales price of the home (will consider physically distressed homes, but no burnouts)
Title must be clear of all liens and encumbrances
Close in one week
Borrowers can be US residents, foreign nationals, corporations, partnerships or LLCs (proof of good standing required)
Loans made to investors only
Purchase money loans only (no refinances)
Properties must be single family residences (1-4 units)
No manufactured, condos, log homes or vacant land
Minimum loan amount $20,000, maximum $100,000
Limit 5 loans per borrower at any one time (exceptions considered but not guaranteed)

States where our loan product is available:

AL, AK, AZ, CA, CT, DE, FL, GA, IL, IN, KY, LA, MD, MO, MS, MI, MT, ND, NH, NJ, NM, NY, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WY.

States where our loan product is NOT available:

AR, CO, HI, ID, IA, KS, ME, MA, MN, NE, NV, NC, SC, SD, WI.

Unfortunately WI is on the list of "not eligible" however just thought I'd throw this out there. I am not affiliated with the company in any way.

[Dave Snider]

Hello BP colleagues...I think I am going to try to one of their programs - 11% refi/home equity loan on property I am rehabbing.   It's 11%, plus a couple points and setup fee.  Not cheap but gets me from point A to point B more quickly.   I'll let everyone know how the experience goes.

Thanks,

Dave