Funder One/FUNDX replaces the need for banks by making its members a true Trustor. Members can work with us to create the instruments necessary for a real estate transaction.
Funder One/FUNDX can now tokenize the property, create liquidity, and eliminate the debt.
A five year membership fee guarantees Funder One’s members to own their home after the five years, without the fear of losing their home to foreclosure. After five years, the members will also be able to use all equity on their property.
Qualifying for The Tokenized Non-Recourse Funding Program is quite different from qualifying for a conventional loan used for the typical purchase of a new home. The Tokenized Non-Recourse Funder will not look at the following when making their funding decision.
Removing these variables will make the funding process simpler for both the Funder and the member. A non-recourse funding is not reflected on your credit report under your Social Security number. Instead, The Tokenized Non-Recourse Funding closes under the tax ID number created for your trust or corporation or entity purchasing the property. This is very helpful if you are an investor who owns multiple properties under your personal name. Fannie Mae and Freddie Mac limit the number of properties you can finance with conforming rates in your name.
The Tokenized Non-Recourse Funding Program is underwritten very similarly to a commercial real estate transaction. The main concern for the Funder is the property and/or the intellectual property, cash flow and/or equity.
There are two major components that the Tokenized Non-Recourse Funder and/or Banker will consider when making their decision.
The Tokenized Non-Recourse Funder and/or Banker will verify that the member has enough cryptocurrency in its wallet at funder1ex.com for qualification, the down payment (if necessary), closing costs, prepaid costs for real estate taxes and insurance. All fees and expenses must come from the member.
Is the property in good condition? Remember that up to 100% of the collateral for this type of funding is the property. So the Funder must be satisfied with the value and condition of the property at the time of closing. The Funder will require an appraisal and inspection on the property.
Once you make the decision that you want to purchase a home, then, it is important to know the options available to gain the best funding possible. The Banks are hesitant to fund projects peer to peer with 100% cryptocurrency in Blockchain under Smart Contracts because the account owner could not guarantee the transaction.
