Terms of Service

Introduction

Loan Support Services LLC specializes in arranging Private Money Loans. Our loans are completely asset-based. We are completely concerned about the financial ability and not the credit of the borrower because there are professional ways of evaluating credit worthiness.

We understand that a flexible and dependable financing partner is a key component to a successful real estate investment strategy. By delivering a flexible array of lending solutions in a quick, efficient, and client-focused process, we are committed to becoming your partner and growing your business to its full potential.

Our team of seasoned professionals will ensure that your needs are met so that you can focus on finding that next project.

What Types of Loans Do We Offer?

Borrowed money can be used for many purposes, from funding a new business to buying a car or a house. But with all of the different types of loans out there, which is best—and for what purpose?

Loan Support Services LLC offers a variety of loans that cut across the various fields of need, enabling our consumers to purchase the loan that best suits their financial position.

Types of Loan

1. Fix and Flip Loan
2. Construction Loans
3. Rental Loans
4. Buy and Hold
5. Refinance loan/Debt consolidation
6. Business Purchase/Start-up/Expansion
7. Personal Loan
8. Home Equity Line of Credit (HELOC)

To apply for a loan, each prospective borrower must complete the loan application in its entirety as well as submit the required information. Below are a few general requirements.

Requirement	Details
Minimum Credit Score	550
Borrower Type	Individual or Entity
Loan Minimum	$100,000
Loan Maximum	$50,000,000
Origination Fee	1% - 3%
Interest Rate	6.12%
Loan Term	1 to 5 years
Time of Funding	4 to 7 Business days
Pre-Payment Penalties	NA
Loan to Value (LTV)	90%
Loan to Cost (LTC)	85%

Repayment Options: Monthly Repayment, Annually Repayment, Interest Only Repayment

For a successful underwriting process, the borrower must provide the following respected documents at the very least for each loan case:

Fix and Flip

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• Copy of contract to purchase land (If not already owned)
• Copy of plans, budget, and specs for the home to be constructed
• Entity Documentation (if applicable)
• Two consecutive month bank/account statements
• Copy of most recent two years signed personal tax returns including all schedules (self-employed borrowers only, if applicable)

Construction to Permanent Mortgage Program

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• Evidence of property insurance
• Two consecutive month bank/account statements
• Purchase contract or HUD Statement (if applicable)
• Entity Documentation (if applicable)
• Investment Property Track Record
• Personal and Business Tax Returns (if applicable)
• Tax Returns, Pay Stub
• Budget and Project Scope Worksheet
• General Contractor/Builder's License (New Construction Only)

Approved Construction Type: Stick Built, Modular, Log, Panelized

Land Requirement

• Any land liens must be satisfied at construction closing
• The value attributed to land owned for more than one year will be determined by the appraisal
• Inherited land or gifts of land are acceptable and the value will be determined by the appraisal
• The value attributed to land owned for less than one year is determined by the lesser of the actual price paid or the current appraised value

Rental Loans

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• Copy of most recent two years signed personal tax returns including all schedules
• Lease agreement on current property
• Two consecutive month bank/account statements
• Proof of property insurance

Buy and Hold

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• T12/TTM Report
• Property's Rent Roll
• Two consecutive month bank/account statements showing proof of income
• Copy of most recent two years signed personal tax returns including all schedules

Refinance Loan/Debt Consolidation

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• Two consecutive month bank/account statements
• Entity Documentation (if applicable)
• Copies of most recent year-to-date pay stubs documenting one full month of earning
• Copy of most recent two years signed personal tax returns including all schedules (self-employed borrowers only, if applicable)
• Seasoning Certification for all cash-out refinances paying off an existing VA loan

Business Start-up and Expansion

• Copy of state-issued ID or passport for residents and copy of passport for foreign nationals
• A good business plans
• Article of Organization
• Copies of two months' most recent consecutive bank statements
• Business Licenses and Permits
• Accounts Receivable Aging and Accounts Payable Aging
• Details of Your Other Debts
• Financial Statements
• Employer Identification Number (EIN)

Personal Loan

• Proof of Identity
• Employer and income verification
• Driver's license
• Paystubs
• Passport
• W-2s and 1099s
• State-issued ID
• Bank statements
• Certificate of citizenship
• Employer's contact information
• Birth certificate

Proof of Address

• Utility bill
• Lease or rental agreement
• Mortgage statement
• Proof of insurance on your home, lease/rental, or vehicle
• Property tax receipt
• Bank or credit card statement

Loan Duration

Loan ranges from 1 to 30 years in duration, and failure to pay back the loan within the expected date or period agreed upon and signed will result in legal actions taken against the borrower by our attorney.

How Interest is Calculated

We calculate interest paid by you by applying the daily percentage rate of interest to the unpaid daily balances. The unpaid daily balance is the amount you owe us at the end of any particular day (Pacific Time) and is the difference between all amounts credited and all amounts debited to your account at the end of the day on any particular day. The daily percentage rate is determined by dividing the annual percentage rate by 365. This interest accrues daily and is debited from your account monthly in arrears, immediately after the last day of each calendar month.

Repayment

You must repay the total amount of credit plus the interest charges by monthly, annual, or balloon repayments. After that, you must pay a repayment on the same day of each following month or year.

Cost

Borrowers are subjected to the loan origination cost for the loan processing before the loan can be approved and set aside for disbursement to the borrower's designated bank account. The loan origination cost is calculated case by case and ranges from 1% - 3%.

Termination of Loan

If, at any time, the borrower cancels any portion of the loan granted or if we determine, due to misleading information, that a portion of the loan should be canceled, resulting in the net loan amount being reduced to less than $100, we reserve the right to terminate the loan by providing notice to the borrower. In such an event, all obligations and liabilities there under shall become immediately due and payable.

Default

Having followed the terms of the Consumer Credit Code, 1995, and without affecting our right to demand repayment at any time, we may demand repayment if any of the following events (defaults) occur:

• If you fail to pay any money to "the lender" (Loan Support Services LLC) on the date it is due, and this failure lasts for more than 30 days after we have written to inform you that the amount is overdue.
• If you breach any of the terms and conditions of this agreement, and you do not rectify the situation within 30 days after we have written to instruct you to do so.
• If you or your guarantor pass away or take action that could lead to bankruptcy.
• If your guarantor notifies "the lender" (Loan Support Services LLC) that they will no longer act as your guarantor, or if any decree, judgment, or court order is obtained against you, and you do not settle it within one month from the date it was issued.
• If any information provided by you in the credit facility application was false, misleading, or inaccurate.
• If you fail to provide us with the security within 10 days after we have written to request it, or within any additional time we may allow.
• If the security also serves as security for other amounts owed to "the lender" (Loan Support Services LLC) (or any of our subsidiaries), and the security becomes enforceable to pay any of the other amounts.

Enforcement Expenses

Enforcement expenses may become payable under this contract in the event of a breach. We may debit these expenses from your account. They will become immediately due for payment once debited. Enforcement expenses may include solicitors' legal costs and the reasonable expenses of staff and facilities incurred in relation to any enforcement.

Change of circumstances and address

You must tell us promptly if you change your residential or postal address or if you think there is any information that we should be aware of about your ability to comply with this contract.

Notices

Any notice or demand given by "the lender" (Loan Support Services LLC) under this contract or required by law may be given at the address you have nominated for delivery of notices, or if no such address has been nominated by you, at your email address as last known to me. Any such notice or demand shall be deemed to have been received by you when it would have been delivered in the ordinary course of mail.

Joint and Several Liabilities

If you are two or more persons, your obligations as debtors are both joint and several.

Date of Contract

This contract takes effect on the date that we accept your offer to borrow.

Assignment

We may deal with, assign or transfer to any person or company any of our rights and interests under this contract.

Activity

The plan is expected to initiate funding against investment funding, including: mutual funds, business financing, personal loans, commercial loans for companies and private individuals, real estate financing, hard money loans, equity and debt financing, and bridge and construction financing.

Closing

All fees are handled at closing through the title company determined by the underwriters.

Consumer Credit Code and Other Laws

To the extent that any provisions or parts of this loan contract are inconsistent with the Consumer Credit Code or other laws, they will be deleted so that the rest of the contract shall remain valid and enforceable. All disclosures under this contract are made on the basis of assumptions permitted by the Consumer Credit Code.

Information

Upon request, the Borrower shall immediately supply us with all requested details, information, materials, and explanation (except information of a proprietary nature) regarding the operations and finances of the Borrower as may be reasonably required from time to time.

Governing Laws

The loan shall be governed by and construed according to the laws of Florida that apply to agreements made and performed in the state, without regard to its choice of law provisions.

Application Process

The borrower will need to enter a loan application with us before processing can begin. After filling out the "loan application form", your details will be reviewed by our financial analyst, and then we will get back to you with the loan repayment analysis, and if suitable, we will start full processing.

• Application Form to be completed and duly signed.
• Supporting Documents to be sent, such as: International Passport, Driver's License, Company ID, or any Government-issued valid ID.
• Proof of Residential Address, such as a utility bill, electricity bill, gas bill, water bill, or waste bill.
• Bank Statement of account for the past 3 months.
• Presentation and signing of further due diligence documents.
• Approval.
• Signing of Loan Contract Agreement.

In completing the signing of the loan contract agreement, the Borrower would proceed with the lender's preferred escrow company for the final closing. NOTE: all fees are paid at closing with the title company.