FAQ’s
Question? What are your Rates and Terms?
Answer: Rates and terms vary considerably depending on a variety of factors including loan to value, property type, credit scores, source of income, etc. Typically, our rates fall between 8% and 14% and terms range from 6 months to 5 years. Most loans are interest only monthly payments with a balloon payment at the end of the term.
Question? Are there other fees?
Answer: Yes, we charge points or a percentage of the loan amount as an origination fee, usually 2-6 points. We also will charge the normal recording, documentation preparation, and other third party fees such as title insurance, escrow, flood cert, and recording cost. No surprises, once your loan is approved we will provide a Term Sheet outlining all fees involved.
Question? Why would someone pay higher rates and fees than offered by banks?
Answer: While interest rates are at very low historic levels, those rates are only available for borrowers who meet certain, often-demanding guidelines. Kingslin’s strength is assisting borrowers who fall outside those traditional guidelines, but have a pressing need for a loan. Kingslin helps clients to consolidate credit card debt, pay off an overdue loan, pay off tax liens, buy out a partner, obtain working capital for needed equipment or supplies, acquire real estate, and countless other scenarios.
If you can’t obtain a loan from a traditional source, we will underwrite our loan to improve your situation, or we won’t make the loan. In addition to structuring a win-win loan for you, we will accomplish your goals with a low-hassle process and speed you won’t find anywhere else. That’s what separates Kingslin from the rest of the pack.
Question? Is there anyway to get a better deal?
Answer: Yes, since we have many relationships in the finance industry we have been able to get some of our clients qualified for regular bank type loans saving them many thousands of dollars.
Question? How long will the loan process take?
Answer: We can close in as little as 7 – 10 business days, however this starts from the point we have received all needed information from you. The average closing time is usually 3- 4 weeks.
Question? Will you do second deeds of trust?
Answer: Yes, please contact one of our representatives to see if your project qualifies.
Question? Do you put the loan package together or do I?
Answer: Good question! Our job is to make yours easier and to get your project funded. We will work with you to gather all needed documentation. Once we have everything we will create a loan package for you that increases the likely hood of getting you funded.
Question? What if I don’t qualify for funding today?
Answer: We have assisted many of our clients over the years to get into a position to receive future funding. We have negotiated with the current lenders to buy time. At the same time we initiated our get-well program. The details of the program vary based on the client and situation; however, we have successfully assisted many clients in eventually getting funded when initially they were turned down by all sources. Please contact one of our representatives to learn more and to see if the get-well program can work for you.
Question? How do I get started?
Answer: The best way is to simply call us. In 5-10 minutes we should be able to get an idea whether we can assist you or not. If we think we can help we will ask you to send a written summary of your project and sign a fee agreement with us.
