2 - 10 Day Funding

iVisionary Financial Solutions understands that there are certain situations that require you to hold the property for a few days versus being able to conduct a back -to-back closing. For example, there are times when your end buyer's lender has no seasoning issues but they do not want to send loan docs or wire money into escrow until they have a copy of the recorded deed from the first transaction. We have created an extended transactional funding product to cater to these scenarios to enable you to continue to capitalize on these types of transactions. Our extended transactional funding product will enable you to hold the property for up to 10 days.

iVFS loans only made to a single purpose limited liability or corporation or trust, not to an individual, but each individual will be required to personally guarantee repayment of our loan. Our loan will be due and payable on the date of the expected B to C closing. If our loan is not paid when due, we will have all rights of a first note and mortgage holder against the property and the borrower and guarantor. We also require execution of a quitclaim deed to our company which can be recorded at our discretion in the event the loan is not repaid to us when due. However, recordation of the quitclaim deed does not result in a release of liability of the borrower or guarantor, who will remain liable for any deficiency if the property is resold for less than the loan balance due iVFS.

Here is the list of our requirements in order for us to underwrite your transaction for potential funding.

1. 2-10 day holding period

2. Entities Only - We will only fund deals to entities, not to individuals. There are no exceptions.

3. Disclosure - You're A to B contract must have disclosure that you intend to immediately resell the property to a 3^rd party for a profit. Your B to C contract must disclose that the end buyer's purchase is contingent upon your purchase of the home, first.

4. $250,000 Loan Limit - your loan request must be under $250,000

5. Secured End Buyer - You must have your end buyer under contract for the resale within 10 days of your purchase

6. Hard Earnest Money - Your end buyer must put up at least 3.5% of their contract price or a $3000 minimum earnest money deposit and contractually agree that once you purchase the home their money goes "hard" or non-refundable.

7. Approved End Buyer - Your end buyer must be approved for their loan and all conditions must be satisfied other than the requirement that the lender receive a copy of the recorded deed from the first transaction before sending loan docs and a wire.

8. Required Homeowner's Insurance - you will be required to get a homeowner's insurance policy good for 6 months at time of closing and pay for this out of your own pocket.

9. Closing Agent Requirements - Short sales are required to utilize the same closing agents for each transaction while REOs may have separate agents for each closing.

10. Profit Minimums - Your transaction must have the minimum total profit based upon the schedule below. Minimum total profit should be determined by subtracting the gross purchase price from the A to B closing from the net proceeds from the B to C transaction. We will default to whichever is the greater of the total profit percentage or the minimum profit dollars.

Holding Period (Days)	Total Profit Percentage	Min. Profit Dollars
0-1	NA	NA
2-4	12%	$12,000
5-10	15%	$15,000

11. Maintenance - you will be required to maintain the property and cover any and all expenses associated with doing so out of your own pocket during the holding period.

12. Credit Report - may choose to or not to pull your credit. This is not necessarily because we are checking your score, but more so for any liens that may automatically transfer on to the property once you buy it and are holding it for a few days.

13. Criminal Background Check - This speaks for itself.

14. Pricing - Our pricing is based upon the holding periods established below.

Days	Points
0 to 1	2% +$495
2 to 4	3% +$495
5 to 10	3.75%+$495

DOCS REQUIRED FOR UNDERWRITING SUBMISSION

1. A to B Contract - Please circle disclosure of immediate resell

2. B to C Contract - Please circle disclosure the resale is contingent upon your purchase and the agreement that the C buyer's deposit goes 100% non refundable once the A to B transaction closes.

3. Loan Approval - Please send a copy of your end buyer's loan approval stating all conditions are clear with the exception of recorded deed being given their lender. IF the end buyer (C buyer) is using a mortgage broker, versus a direct lender, the mortgage broker must provide an actual copy of the underwriting approval from the direct lender with the above conditions. All personal information for the end buyer/C buyer can be removed or "whited out". Phone number for lender/underwriter must be on the loan approval.

4. Earnest Money - Please provide a copy of the earnest money check as well as a letter from the escrow agent stating they have deposited it. This letter must come from the escrow company that is doing the actual closing. The escrow must be held in the actual closing agent's escrow, versus a real estate broker's escrow account.

5. Profit Breakdown - Please submit preliminary HUDs for each transaction or a detailed breakdown of your profit

6. Assets Proof For Insurance - Please send in an asset statement of some sort verifying you have at least $1000 to cover the homeowner's insurance policy required during the 2-10 day holding period

7. Social Security Number - for background and Lien check