Questions? We have answers.
Frequently Used Terms:
- ARV – After Repair Value (ARV), is the estimated market value of a property after it has been renovated.
- Asset-Based Lending – loan process that focuses on the pr property’s value and deal metrics rather than personal credit. Ability to repay is considered, but terms are primarily driven by the asset.
- DSCR – Debt Service Coverage Ratio(DSCR) loan is a type of real estate loan for investment properties that qualifies the borrower based on the property’s income potential rather than their personal income or credit history.
- FHA Cap – the maximum loan limit the Federal Housing Administration (FHA) will insure for the property’s county. (Search “FHA Mortgage Limits hud.gov” to look up your area. FHA is a U.S. government agency that insures mortgages to promote affordable homeownership, particularly for first-time or low-to-moderate income buyers.
- Fix and Flip – a real estate investment strategy where an investor buys a property needing repair at a discount, renovates or “fixes” it, and then “flips” it by selling it for a profit.
- Hard Money/Private Money loan – short-term, asset-based loans, typically for real estate investors, where the loan is secured by the value of the collateral property rather than the borrower’s creditworthiness. These loans are known for faster approval process and flexible terms, and are often used on properties that traditional banks won’t service.
- Collateral DNA report (CDNA) – a comprehensive property valuation report, based on public records and appraisal data, used in the mortgage industry that provides data on a property’s value, risk, and market context such as property’s history, characteristics, neighborhood, sales, and foreclosure activity. This is a low cost report that can help you decide whether it is worth proceed with more costly a full appraisal ($400-700).
1) What services does Legacy Launcher LLC offer?
We provide funding solutions for Fix & Flip, Buy & Hold (DSCR), Refinance, Commercial, New Construction, and other private money loans. We also offer Proof of Funds Letters, Collateral DNA Reports, Debt Stack Reports, and exclusive high-equity off-market property leads to give you an advantage over other investors in your area.
2) What are the benefits of private money lending?
Private money lending offers speed and flexibility that traditional banks can’t match: fast closings, custom terms, options for properties banks won’t finance, and no minimum credit score requirements for Fix & Flip and DSCR funding. Legacy Launcher LLC also offers the unique advantage of 100% funding for joint-venture/split-equity projects.
3) Are you a lender or a broker, and are there fees?
Legacy Launcher LLC operates as both a direct lender and a broker. If we don’t fund in-house, we use our nationwide network to secure the best fit. Standard loans include a 3% broker fee. For 100% financing needs, we also offer joint-venture (split-equity) options that can cover purchase, rehab, and closing costs.
4) Do you lend on owner-occupied or consumer residential loans?
No. We fund and broker business-purpose, non-owner-occupied deals only. We do not offer consumer mortgages.
5) Is there a minimum credit score requirement?
For Fix & Flip and DSCR loans, there’s no minimum credit score requirement. We still review credit/background, and your profile will affect rate, leverage, and terms.
6) Do I need prior experience?
No experience is required for Fix & Flip loans. Experience can help pricing, leverage, and speed of the loan, but first-time investors are welcome—we’ll help you scale.
7) How do you decide the amount to lend?
Primarily by the asset and deal metrics. For bridge/Fix & Flip, up to 90% of purchase and 100% of rehab, capped around 70% of ARV. Our JV program can cover 100% of purchase, rehab, and closing costs up to 70% ARV.
8) Can I get 100% financing?
Yes. Through our JV program, we can cover up to 100% of purchase, rehab, and closing costs, up to 70% ARV.
9) What does “True 100% Funding” mean?
It means purchase, rehab, and closing costs can be covered as long as that total is less than 70% ARV under a joint-venture agreement between Legacy Launcher LLC and the investor.
10) What’s the Joint Venture (JV) Program?
Designed for contractors/investors who want to build wealth as partners. Contractors still earn their contractor fee. You share in profits at sale.
• Profits are split at closing, as agreed —no hidden terms, no credit/experience requirements.
11) Who qualifies for the JV Program?
Any contractor or investor—no minimum credit score or prior experience required. If you’re motivated and reliable, we’re interested
12) How do I get started with a JV deal?
Submit a contracted deal (or purchase high-equity off-market leads from us to find a deal), review/confirm numbers together, agree on scope/budget/split, complete the rehab on budget with interest-only payments, then split profits at sale exactly as agreed.
13) Why do contractors choose Legacy Launcher LLC?
We offer partnership, not just financing: no credit/experience requirements for JV, transparent profit-sharing, agreed scope/budget/split up front, and a path to long-term wealth as you evolve from contractor to investor.
14) How long does it take to close?
With complete documents, we can close in as little as 14 business days. Plan on ~30 days to allow for gathering documentation—the faster you provide items, the faster we fund. If you are experienced and can expedite completion of all documents, we may be able to close in less than 14 days (higher fees apply).
15) What are your loan terms?
- Amounts: ~$30,000 up to the FHA Cap (deal/location dependent)
- Rates: Starting around 7% interest, 0–3% origination, no prepayment penalties
- Term: 6–24 months for Fix & Flip; up to 30 years for Buy & Hold/Refi
- Typically one loan is approved per new borrower until a track record is established
16) Do I need an appraisal, and what does it cost?
Yes. Typical range is ~$400–$700, depending on property and location
17) Do I need a licensed/insured contractor bid?
In most cases, yes. We require an itemized bid to ensure project accuracy and budget integrity
18) Is my information kept confidential?
Absolutely. We treat all client information as confidential and operate with professionalism, transparency, and respect