My best advice when I see these posts.....STOP CALLING IT AN APPLICATION FEE.......do your prescreen by letting everyone know what your qualification requirements are.....if they feel like they meet them, let them fill out an application FOR FREE..... if it looks good and they want to move forward, then there is a $35 fee to run the background check and credit checkThe fee is for a background and credit check....not an application.....and the person only pays it if they want to move forward and your initial screen of their application doesn't drop them off the "maybe" listI always charge the cost of the credit and background....no mark up.....and its nonrefundable......I'm not losing $$ if your info tells me you don't qualify, or you change your mind......

Depending on price points and if you haven't found anyone to help out, there may be better options from credit unions, banks, and/or agency financing, depending on your qualifications. 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

In 2007, people were getting loans because of a pulse, not qualifications, more, which ultimately led to crash.

ProsEasier qualification makes for a quicker transaction, no  limit on the number of properties owned or financed. close in an llc with multiple borrowers, even if one has money and one has good creditConsPrepayment penalty, higher rate and higher fees.

If you receive a salaried W2 position after you finish school, we would be able to use this income for qualification.

That's part of the qualification process.

After reading the qualifications for this loan, it looks like I meet all of the criteria.

plus no credit or qualifing or bank loans on any of those deals.. :)

So you and essence are saying that you’re frowning upon a potential tenant, although you reviewed their qualifications and found them to be a desirable tenant….