Sierra Resource, LLC is a Phoenix based lender, specializing in lending to investors for flip properties.
Terms
Sierra Resource will loan 80% of the purchase amount at 15% simple interest, 6 month term, interest payable monthly, a Loan Broker fee in the amount of $400 and prepaid interest for the balance of the month of loan funding shall be due at the time the loan docs are signed.
Process
A simple loan app to be submitted to Stewardship Mortgage, first time loan apps can be created over the phone by contacting Grant @ Stewardship Mortgage, cell # 602.373.0269. Stewardship Mortgage will then issue the borrower a password to access their website for future fundings. Thereafter it is as easy as accessing the site and inserting the property address, purchase amount and loan amount.
Items necessary for funding
Trustee’s receipt, preliminary title report, certificate of insurance naming Sierra Resource, LLC as lender, 3 MLS comps or a valuation using Net Value Central and LLC or Corporation documents, these items can be uploaded to the Stewardship website.
Funding
Lender will prepare and email the loan docs to the borrower and the Arizona Bids Team, once the loan docs are signed and notarized, Sierra Resource will wire the loan funds to the Arizona Bids account, or deliver a cashiers check to Arizona Bids for the loan amount. Arizona Bids will use these funds in addition to your funds to pay the Trustee for your property. The prepaid interest and Broker fee in the amount of $400 are due at loan doc signing, make check payable to Sierra Resource, LLC.
As long as Sierra Resource has the necessary items, loans will be funded on time every time. Looking forward to a long and prosperous relationship.
Eric Sheldahl
Email: sheldahl77@gmail.com
Phone: 515.210.9400
nmls 997427
mb 0922329