Costs Associated with No Credit Check Program

There are several costs associated with this type of program:

1. Analysis fee ($750-$1,500) – This fee is refundable if investor can not come up with financing
2. 10% consideration payment (down payment) – Some of these funds may be gifted or provided by the seller
3. Net investor fee (5-10%) – This money is to compensate the investor for the risk he is taking
4. Earnest money $500-$1,500
5. Appraisal fee $300-$500

It’s recommended to use this program with For-Sale-By-Owner homes or in homes where the sales price is well below the appraised value. By doing so, you can compensate for the higher costs involved with this program.

If you want more information about this type of loan, you can visit The 10 Steps to the No Credit Check Program