FAQ

Frequently Asked Questions (FAQs)

  1. What Services Does Diamondfundz01, LLC Offer?
    We offer a comprehensive range of services designed to meet your real estate investment needs, including:
    • Fix & Flip
    • Buy & Hold
    • Refinance
    • Commercial Real Estate
    • New Construction
    • Private Money Loans
      Additionally, we provide:
    • Proof of Funds Letters
    • Collateral DNA Reports
    • Debt Stack Reports
    • High-equity off-market property leads (so you don’t compete with other investors in your area).
  2. What are the benefits of private money lending?
    Private money lending provides several advantages, such as:
    • Faster access to capital
    • Flexible loan terms
    • No minimum credit score requirements
    • Financing for properties that may not meet traditional lending criteria.
  3. Are you a lender or a broker, and are there fees or commissions involved?
    We are both a lender and a broker. If we can’t provide the funding you need, we have a wide network of trusted lenders we work with, allowing us to broker the necessary funds for you. Our goal is to offer you the best rates and the quickest closings. If you require 100% funding, we also have split equity opportunities available, covering your purchase, rehab, and closing costs. Please note, there is a standard 3% broker fee for all loan types.
  4. How do you determine the amount to lend?
    The loan amount is primarily based on the asset you have under contract. Typically, we lend up to 90% of the purchase price and 100% of the rehab cost. Ask us how you can secure up to 100% financing.
  5. Can you provide 100% financing?
    Yes! Through joint ventures, we can provide up to 100% financing for your purchase, rehab, and closing costs.
  6. What does True 100% Funding mean?
    True 100% funding means that we will provide up to 100% of your purchase, rehab, and closing costs, based on up to 70% of the After-Repair Value (ARV), when a joint venture is established between Diamondfundz01, LLC and the borrower.
  7. How long does it take to close a transaction?
    Typically, transactions can close within 14 business days after receiving all required documentation. However, the process can take 3-4 weeks if documentation is delayed. Investors should aim for 30 days to accommodate for potential delays and ensure a smooth process.
  8. What does FHA Cap mean?
    The FHA Cap refers to the maximum loan amount allowed in the county where your investment property is located. For more details, please refer to FHA Mortgage Limits.
  9. What does ARV mean?
    ARV stands for After-Repair Value, which is the estimated value of a property once all repairs and renovations have been completed.
  10. What does Asset-Based Lending mean?
    Asset-based lending is a type of financing where the loan decision is primarily based on the value of the real estate property under contract, rather than the borrower’s creditworthiness. While a borrower’s ability to repay is considered, the primary factor for approval is the property value.
  11. What are your loan terms?
  • Loan amounts range from $30,000 up to the FHA Cap for the county where the property is located. Additional funding options are available depending on the property and loan type.
  • Interest rates start at 7% annually, with origination fees ranging from 0% to 3%, and no prepayment penalties. (Note: Rates are based on credit score, but credit score does not determine loan approval.)
  • Loan terms: 6 months to 2 years for Fix & Flip projects; 30 years for Buy & Hold or Refinance.
  • One loan is approved per applicant until a proven track record is established.
  1. Do I need an appraisal and how much will it cost?
    An appraisal is required before closing. Costs typically range from $400 to $700, depending on the property’s location.
  2. Is a Licensed & Bonded Contractor bid required?
    In most cases, we require an itemized bid from a licensed and insured contractor before processing the loan.
  3. Is my information kept confidential?
    Absolutely! We treat your privacy with the highest level of importance. Any information you provide will be kept strictly confidential. You can rely on us for professionalism, understanding, and respect throughout the process.

If you still have questions, feel free to contact us directly, and we’ll be happy to assist you further!