They
presented us with a written approval from a local bank.
The borrowers initially thought that the bank’s terms could
not be improved upon. Instead, Financial Resources was able
to more than please them. The bank’s terms were limited
to a 25 year amortization and they required a balloon payment
in 10 years. Financial Resources was able to offer the borrower
a straight 30 year amortization with no balloon. The borrowers
were also pleased with the time it took to close the loan.
For the bank estimated it would take approximately 60 days
to close, whereas the loan with Financial Resources only
took 30 days to close.
In most cases, Financial Resources’ conventional loan programs
allow us to be very competitive with banks.
