Good Faith Funding, LLC is committed to helping Real Estate Entrepreneurs build wealth with little to none of their own money!
This is done through creatively using Other People’s Money (OPM) to buy short and long term investment properties.
About Us
Tony Broullire
Hard Money Lender, Successful Real Estate Investor, Senior Loan Officer & Fund Manager
For the past 27 years, Tony has worked in the mortgage industry and has helped hundreds of individuals with their home and investment financing. While lending is a rewarding endeavor, Tony is always looking for bigger and better challenges.
Tony has owned 100+ rental properties since 1999 and successfully sold over 100 properties during that time.
His years of experience in the Mortgage Industry, owning rentals, and Hard Money Lending give him a unique perspective on how to “marry” hard money lending with traditional financing.
Tony loves to put together creative real estate deals, and he uses his decades of experience in lending and real estate to do it. Creative real estate lights a fire in Tony that makes him excited to go to work every day. Tony truly wants to work with you to help you successfully invest in real estate!
Jaris Briski
Hard Money Lender, Successful Investor, Business Leader & Fund Manager
For the past 28 years, Jaris has worked and invested in various industries including real estate, logistics, and other small to very large businesses. Jaris continues to be focused on how to build and grow businesses where customer driven value is seen on every transaction.
Jaris has been doing hard money lending since 2017 and has been investing in businesses since 2005. His focus continues to be on his family while actively working to create the most value out of every interaction and business deal.
His many years of experience allow Jaris to assess many aspects of a deal and find creative ways to make a deal work for all involved. Much like Tony, Jaris strives to help all to successfully invest in real estate.
Hard Money Loans
Process
Get Accepted Offer to Purchase
Fill out Application on www.GoodFaithFund.com (Borrower Portal tab)
Upload Needed Documents in Borrower Portal
Close Loan at Title Company
Rehab Home & then Sell (Flip) or Refinance (Buy & Hold) to payoff Good Faith Funding
Repeat Process
Highlights
65% MAX loan to After Repair Value (ARV)- You NET the 65%
No Monthly Payments Required
6 Month Balloon Term
12% (compounded daily) Rate- if paid back in the first 6 months
3 Point Origination Fee- financed “on top” of the 65% LTARV base loan
NO Prepayment Penalty
Possible to finance both Purchase Price AND Rehab costs Documents
No Condos, Mobile/ Manufacture homes, Mixed Use or Commercial
Documents Needed Prior to Funding
Signed and Accepted Offer to Purchase.
Articles of Organization & Operating Agreement if purchasing in an LLC (Need Signed Docs all Pages and Schedules).
Copy of Driver’s License for all borrowers.
CMA (Comparative Market Analysis) based on Rehab to determine ARV (CMA CANNOT be completed by anyone involved in the transaction).
Itemized Scope of Work including costs, timeframes, & estimated completion date.
2 Months Bank Statements (personal and LLC)/ Other Asset Statements.
Long Term Financing Preapproval Letter for Refinance (Needed for Flips as well).
Signed W9
Investor FAQ’s
Q: What is the ‘Rehab Amount’?
A: It is the monies needed to improve the property to the After Repair Value (ARV).
Q: What is the ‘After Repair Value (ARV)’?
A: It is the value of the property when all the repairs are completed.
Q: What is the ‘Total Funding Amount’?
A: This is the Amount that will be listed on the Mortgage and Note. This is also the max amount that will be wired to the Title company for funding prior to the closing date.
Q: What does ‘Total Funds to Borrower’ mean?
A: It is the monies the borrower will NET at closing after Fees/Points are paid or financed.
Q. What is a Balloon Mortgage
A. Full Loan amount plus interest and fees are due on the Balloon Due Date
Q. What is a Point
A. This is 1% of the total loan amount and is typically financed into the loan. Investors get paid interest on the point as well.
Q. How does Good Faith Financial, LLC get paid?
A. Good Faith Funding, LLC gets paid on the interest rate spread and the Points. The Spread is the difference of the total the borrower pays AND what is paid to Investors to utilize their funds.
Borrower FAQ’s
Q: What is a Hard Money Loan?
A: A hard money loan is any loan secured by a “hard asset” like commercial or residential real estate. A hard money loan is a first mortgage on investment real estate. A hard money lender looks to the property as the primary collateral as opposed to the borrower’s credit score or other factors. A hard money loan is an alternative to a traditional bank loan.
Q: How quickly can I close?
A: Our average close time is 5-10 days (depending on property, location, etc.…).
Q. How do I get started with a loan?
A. Complete the on-line application form on the Borrower Portal and we will contact you typically within 24 hours (during normal business hours)
Q. What documents will be required from me?
A. We will need:
Accepted Offer to Purchase
Most Recent Month’s Bank Statements and documentation of other liquid Assets
Preapproval Letter from Lender
Application Filled Out Completely*
Spreadsheet with Itemized list of Repairs and Time Frame for Work to be finished
CMA (Comparative Market Analysis) to determine ARV*
If property will be in an LLC then:
Articles of Incorporation
Signed Operating Agreement for LLC
Q. What is a CMA?
A. A comparative market analysis is an estimate of your home’s value done by your real estate broker to establish a listing or offer price when you decide that you want to sell or buy a home or property.
Q. What are the Terms
A. Notes are a 6 month Balloon mortgage (entire amount due) with No required monthly Payments
Q. What is the rate?
A. Rate is 15% Compounded Daily- This gets reduced to 12% if entire amount due is paid prior to Balloon date.
Q. Are there additional Fees?
A. Yes- there are 3 points (1 point equals 1% of the total amount financed) that are typically financed into the loan.
Q. Why is a preapproval typically required on a hard money loan?
A. Even on a Fix and Flip, borrower’s should have more than one exit strategy.