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Direct Lender for Residential Fix & Flip or Rental Loans
ZINC Financial, established in 2007, is a direct lender providing financing for investors who acquire and rehab properties for investment purposes. Whether you are a new or an experienced rehabber, ZINC’S financing is designed to assist you in becoming a more successful Investor. When you work with ZINC Financial, you benefit from quick decisions, fast turnarounds, and the comfort of knowing you are working with a reputable direct lender.
- NO Owner-Occupied Homes
- NO Ground-Up Construction
- NO Land
- Borrower Must Have Decent Credit
Property Geographic Area Details
We lend in 10 states: AZ, CA, CO, IN, MI, NM, OH, TN, TX, WA
Loan Amounts
$50,000 to $2,000,000
Interest Rates
6.99% to 10.99%
Max Loan-To-Value
75.00%
Max Loan-To-Cost
90.00%
Origination Fees
0% to 3%
Loan Terms
1 months to 60 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Value Add Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
Property Types and Loan Types
Collateral Types
- Residential Property
Property Types
- 2-4 Units Residential
- Condominium
- Multifamily
- Portfolio of Residential Properties
- Single Family Residence
Loan Types
- Residential Fix and Flip
- Residential Rehab and Rent
Purchase Loan
Max Loan-To-Purchase Price
90.00%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Another Investment Property
- Seller Financing
- Gap Lender
- Family
Rehab Value Add Loan
Experience Required
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Entire Amount of Total Project CostsTypical Number of Days for Funds Draw
5Maximum After Repair Value
75.00%Details and Requirements
Typical Closing Time (Days)
7Fastest Closing Time (Days)
5Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Pre Payment Penalty
no
Will lend to a foreign national
yes
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
yesWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
yes
Joint Venture in California only, 3-5 previous completed projects required.Borrower Entity Types Considered
- Individual(s)
- LLC
- Limited Partnership
- Trust
- Corporation
- Self-Directed IRA
Documentation Required
- Bank Statements
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesCredit Check Description
No FICO Requirements but we will check credit just to verify there are no undisclosed judgements or liens which may affect our loan.Appraisal Required for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
SometimesFees
Underwriting Fee
$1,100.00 to $1,100.00
Underwriting/processing fee paid at closing
Escrow Fee
3rd Party Fee
Title Fee
3rd Party Fee
Appraisal Fee
Exterior appraisal with AS IS and ARV.
Renovation Construction Draw Fee
Site inspections $150
Minimum Origination Fee Amount
$2,500
Fees which are mandatory for all new borrower clients
- Appraisal Fee
- Extension Fee
- Renovation or Construction Funds Draw Fee
Fees which are charged upfront prior to loan closing
- Appraisal Fee
Fees which are paid to a third party company
- Appraisal Fee
- Inspection Fee
- Escrow Fee
- Title Fee
ZINC Financial, Inc. is a leading investment rehab lender. We specialize in private money rehab loans, and we help investors leverage their capital to acquire and rehab properties for investment purposes. We are a direct lender, so all decisions are made quickly and in-house. We understand that our investors can’t wait for conventional financing and must close their rehab loans quickly. Our quick turnarounds allow our investors to realize faster profits. We will work hard to fund your loan in as little as seven days. By working with ZINC Financial, you have a powerful ally and partner on your side. With our common sense underwriting, you can have the confidence and security that comes with knowing the status of your loan in real time.
License
CA DRE Lic. #01960640, CFL #6073431
Company Size (Number of Employees)
10
Year Established
2007
Office Locations
7815 N Palm Avenue, Suite 200, Fresno, California 93711Primary Capital Source
- Own Funds
- Individual Investors
- Family Offices
- Friends & Family
Alternative Capital Sources
- Bank Credit Line
Loan Structure for Majority of Loans
- One Investor One Loan
Alternative Loan Structures
- Own Balance Sheet
Percentage of company’s lending business focused on private mortgage
100%
Company’s Other Business Activities Besides Private Mortgage Lending
- Residential Real Estate Investing
Percentage of Loans Secured by Commercial Property
5%
Percentage of Loans Secured by Residential Property
95%
Percentage of Residential Property Loans Which are Fix and Flip
80%
Percentage of Residential Property Loans Which are Buy and Hold
20%
Todd Pigott
President
CA DRE Broker Lic. - 01742641
John Evangelista
Chief Financial Officer
CPA
Jaime Harlan
Servicing Manager
Tony Gamboa
Business Development
Armando Pecina
Business Development
Chris Oviedo
Business Development
Alexander Osuna
Executive Operations Manager
Jack Achey
Control Fund Manager
Annalisa Esquivel
Underwriting & Processing
