Commercial and Residential Loan Specialist in|Memphis, TN 


Distressed Properties Financing.

Set To Go Loans 

Commercial & Residential Broker 

Memphis, TN,

Nationwide

We Give You A Yes When, They Told You "NO"

Property Rehab/ Fix and Flip

SET TO GO LOANS (STGL) often receives a significant increase in calls once a month with investors wanting to receive 100% hard money financing after radio and tv spots were advertised, about how to fix an flip properties. Hard money is called that for a reason, the basic concept of hard money is to invest no more than 65% on a purchase and no more than 50% on a refinance. The ideal that someone is going to loan you 50,000 dollars on a property that you paid 10,000 dollars for is not feasible for the lender! Now lets look at it from a real estate investors, brokers, and sub-prime borrowers who do not meet the strignet requirements set forth by conventional lenders and banks.

Our reputation has been built on our ability to provide fast financing solutions for borrowers who have come across financial challenges, and are in need of alternative & creative financing solutions. STGL specializes in locating finacing for Commercial and Residential. Our variety of lenders allows us to offer our customer options on what deal would better suit. has variety of lenders in there portfolio who has helped many real estate investors accross the country to acquire and renovate their Distressed Properties that were in need of Rehab Financing.  

  • Residential Portfolio Loan: This is a group of single family home, townhouse. These property are combined together and the customer will have one loan one multiple properties. Customer will be responsible for all apprisals.
    • Residential Structures: Any single family home, townhouse, condo,  apartment or entire complex is usually acceptable. The property may not be used as your primary residence. Occasionally,  we have been able to use a primary residence under the strictest of circumstances. Again very rarely do we fund  this type of loan; please call for further information.


  • Rehab loans:  We make loans for the sole purpose of rehabbing property.  Whether you plan to keep the house as a rental property or resell the property, The Hard Money Company will be here to make your loan for you.  Typically, we ask that you have 35% of the purchase price of the property to use as a down payment. 

  • Flips:  We loan money for properties whose sole purpose will be “flipping”.  It doesn’t matter whether or not the house is currently occupied.

How do I qualify

To qualify for a hard money loan on a residential property you need equity. Generally speaking on most conventional loans you need (ICE) Income, Credit and Equity. With a loan from (STGL) you need 50% equity to refinance your residential property. To qualify for a  purchase you need 35% down + closing cost.

Our number two question is what is the min loan amount and maximum loan amount? Minimum loan amount is $20k, maximum loan amount is $100k.

The added feature of our hard money loan is no Credit check, no income/asset verification, no verification of employment.

The finance time are 12, 36 and 60 month terms available with no pre-payment.What happens if you keep the hard money loan for the full 5 years or less? You own the home outright..

What is the interest rate and how much can you be charged for the loan?

    • ·         18%

    • ·         5 points based on loan amount (Can be rolled into loan) (100,000 dollar loan, fees would be $5,000)

    • ·         $1,495 loan set up (can be rolled into loan)

    • ·         $450 doc prep/closing fee (paid at closing)

    • ·         $420 appraisal fee (collected at time you provide contract and signed loan application)

  • ·         No Pre-pay penalty, no balloon payment

This hard money loan is strictly for Residential: investor only; 1-4 units only (no log homes, mobile/manufactured, condos or land).

How do you submit an application

  •   If you fit the qualification for a Residential Hard money loan a $250 dollar  Application fee is required. To submit an application click on paypal app, once the fee has been paid you will be redirected to the Application Form.
  • The Loan application fees are charged to cover some of the cost involved in processing the application and basic administrative cost.

 

Single Family Home

Application and Appraisal Fee

 

 Application Fee $250

Appraisal Fee $425

Total   $675

 

 

 

 

Duplex Family Home

Application and Appraisal Fee

 

 Application Fee $250

Appraisal Fee $535

Total   $785

 

 

 

 

 

States where our loan product is available:

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

 

Three counties don't qualify for our no credit check program.

 

Il,(Except Cook County), MI (Wayne County Detroit) ,  OH(Cuyahoga County), and WI (Milwaukee County)

 

 

Contact Us

Hours: 9am - 6pm CST  (Monday - Friday)

Phone: (901) 830 - 4572  or (901) 309 - 9259

Email: settogoloans@gmail.com
Websites: www.settogoloans.com 

Physical Address:  Memphis, TN 


(Except Cook County), IN, KY, LA, MD, MO, MS, MI (Except Wayne County Detroit) , MT, NC, ND, NH, NJ, NM, NY, OH(Except Cuyahoga County), OK, OR, PA, RI, SC, TN, TX, UT, VT, VA, WA, WI (Except Milwaukee County), WV, WY