MORTGAGE PURCHASING GUIDELINES
R & P Capital specializes in the purchase of owner-financed notes secured by mortgages. We provide cash liquidity for real estate owners who have sold their property and taken back a mortgage for part of the purchase price. Often times, people find themselves in a position of needing to sell the mortgage for a number of possible reasons.
We began purchasing notes in 1989. Our funding capabilities range from $10,000 to $1 million per transaction. Our proven ability to structure purchases of creative seller financing has enabled us to become a predominant nationwide source for sellers of notes, mortgages, and loan portfolios.
In addition to individuals who have taken back seller financing, we work daily with attorneys, title insurance companies, real estate brokers, bankers and mortgage brokers who handle or refer to us mortgage notes for sale. All broker inquiries are welcome.
Our professional Staff and underwriters make closing convenient, simple and secure. After we agree on a full or partial sale of your note via our sale agreement, R&P will do all the work, including notifying the payor of your mortgage assignment after closing. We utilize a title company or attorney to be certain your mortgage is properly assigned. R&P will wire funds to your local title company or closing agent.
How We Buy
Once R&P receives complete documentation, it will take approximately 3 weeks to purchase an owner financed note. After receipt of documentation, a credit investigation is conducted, a spot appraisal (sometimes a full appraisal) is made. Once this information is received, the cash for the purchase of the note is forwarded along with a letter of instructions to the title insurance company. The title insurance company issues its mortgages in favor of R&P and disburses the cash to the seller at that time.
Mortgage Purchase Plans
We offer flexible and individually tailored plans to meet your specific financial goals. You can select from our Full Purchase, Partial Purchase or Shared Payment Purchase Plans. Call today and let our team of experts assist you in finding the plan that is best for you!
R & P Capital can purchase notes secured on a lien on the following types of properties, with loan to value ratios as listed:
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