Someone else is already the buyer on a purchase contract with the seller. You are taking an assignment of that contract, or you are the end buyer who will close. This desk funds that end buyer's purchase as a business-purpose loan to an LLC or another business entity. It does not fund the wholesaler's assignment fee as a loan by itself. It does not fund a deal that has no real contract and no chain of title.
This page is the assignment. It is not a rewrite of buying subject-to, where an existing loan stays in the seller's name and the deed still has to vest in the LLC. A shop that will only close in your personal name is a different wall, on they will only close in your personal name. Why the borrower is an entity lives on why investors need an LLC. A double close is a different structure. A later note covers double close versus assignment. This page will not walk that path.
Funded Funding is a national private-money brokerage. We are not a bank. We are not an NMLS-licensed consumer mortgage lender. The loan is business-purpose, closed in an LLC or another business entity. The desk floor is $100k. No owner-occupied. The property can be in any state we can close. This is a nationwide note, not a city page. Start on the Funded Funding homepage for the product list, or read what the desk is.
What an assignment actually is
An assignment starts with a real purchase contract. The seller and the original buyer have signed it. The property, the price, and the buyer are on the paper. That contract is what gets assigned. A marketing email, a screenshot of a listing, or a message that a house can be tied up is not a contract. If it is not executed, say so. Do not send an address as if the paper exists.
The assignment agreement is the second document. The original buyer assigns the right to purchase to the end buyer. It names both sides, states the assignment fee, and is signed. "And/or assigns" on the purchase contract is a phrase, not the agreement. The file still needs the paper that moves the contract to the entity that will close.
At closing, the end buyer takes title. The wholesaler is paid the assignment fee from that closing, and the fee belongs on the settlement statement. The price on the original contract and the price the end buyer pays are not always the same number, because the fee sits between them. Send both. Do not blend them and leave the fee off to the side. Title has to be able to insure the deed into the end buyer's entity.
This is not subject-to. Subject-to leaves the seller's loan in place. An assignment moves a purchase contract to a new buyer, and closing still has to produce a deed into that buyer. If the deal is actually subject-to, say so and read that note. Do not use both labels for one file.
What this desk can fund
The loan is the end buyer's purchase. The borrower is the investor who takes the assignment and closes, and that borrower is an LLC or another business entity. The entity takes the deed. The loan is business-purpose. You will not live in the property. The request has to be at or above the $100k desk floor. A clean package lets the desk read the file. It is not an approval, and it is not a rate.
The assignment fee can be part of what the end buyer pays to acquire the property, when it is disclosed on the settlement statement. The loan is still that purchase. It is not a separate check so a wholesaler can collect a fee with no closing behind it.
If the end buyer is flipping, bring the rehab budget and the exit, which is a sale. How money is released after work is in place is how rehab draws actually work. How value is read before and after the work is ARV versus as-is. The product note is fix and flip loans through an LLC. This page will not publish a leverage figure. A wholesale contract does not replace a budget.
If the end buyer is holding, say that. Do not rename a flip as a rental, or a rental as a flip, to change the product. If the purchase has to close while a sale or a later refinance is still forming, the time question is a bridge loan for LLC investors. A bridge does not make the assignment valid, and it does not promise that the next loan will show up.
What this desk cannot fund
It cannot fund the wholesaler's assignment fee as a standalone loan. If the request is the fee alone, and no entity is closing on the property, that request is a no. The fee is not the collateral. The property is. The borrower is the end buyer who takes title.
It cannot fund a deal with no real contract. If the wholesaler is not under contract with the owner, there is nothing to assign. A verbal hold, a listing that is not under contract, or a property someone hopes to tie up after you apply is not a file. Apply when the purchase contract is executed.
It cannot fund a chain of title that title cannot insure. The deed has to run from the owner who is actually in title to the end buyer's entity. The assignment explains why that entity is the buyer. If the person on the contract is not the owner, and title has no path to the owner, there is no loan.
It cannot fund an owner-occupied purchase, a personal-name close, or a request under the $100k floor. If you will live in the property, stop. This site is the wrong desk. A shop that will only close in your personal name is a different wall. An assignment into your personal name is not a workaround, and it does not lower the floor.
When the contract prohibits assignment
Some purchase contracts prohibit assignment. Some allow it only with the seller's written consent. Some are silent. The words on the contract you have are the ones that count. A habit from another deal does not rewrite this one.
Have your own real estate attorney review the contract and the assignment before you rely on them. We are not lawyers. This page is not legal advice, and it is not tax advice. We will not tell you the assignment is permitted, how to word it, or what the seller has to be told. A blog post is not your counsel.
If the contract bars assignment, this desk does not fund around that prohibition. If assignment needs the seller's written consent, put that consent in the package. If you are still waiting on it, say so. A missing signature is not an executed assignment.
A double close is a different structure. The original buyer takes title and then deeds the property to the end buyer, often in back-to-back closings, instead of assigning the contract. Who is in title in the middle, and what the end buyer is buying, are not the same questions as an assignment. A later note covers that path. If your deal is a double close, label it that way.
What the file needs
The package is documents, not a summary paragraph. Bring these. If one is missing, name it. Do not substitute a promise to send it after someone says yes.
- The executed purchase contract. Seller, original buyer, property, price, and the clause that allows assignment or requires consent. Blank signature lines are not executed.
- The assignment agreement. Who assigns, who receives the contract, the fee, and the signatures. The end buyer on that agreement has to be the entity that will take title. A plan to assign it into the LLC at the table, with no paper, is not an agreement.
- The assignment fee on the settlement statement. A line on the closing statement, not a side payment in a message. If the statement is not drafted yet, send the fee in writing and say so.
- Title that can insure. How title will run from the owner to the end buyer's entity, and any exception already raised. A chain title will not insure is a stop.
- Entity documents. Operating agreement, EIN, good standing, and who can sign. The same spelling on each, and on the deed. That package is the LLC note. Forming the LLC after a yes is not a file.
- Rehab budget and exit, if this is a flip. The scope, the budget, and a sale as the exit. A flip with no budget is a purchase with a story attached.
- Occupancy and use. You will not live there. Say whether the end buyer is flipping or holding, and put the true unit count on the application. This desk reads 1–4 unit investor files differently from 5+ unit and commercial files.
That list is what the desk needs before anyone can read the purchase. It is not a promise that the file funds. Terms vary by lender, property, and borrower entity. Not available in every state.
The end buyer is the borrower
The borrower and the owner have to be the same entity. The LLC, or the other business entity, takes the deed and the loan. The wholesaler who assigns the contract and is paid a fee is not the borrower. If the wholesaler's own entity is the one taking title, say so. That file is a purchase by that entity, not an assignment to someone else.
If the assignment names one LLC and the deed will name another, the file is not clean. Moving title after closing is a new deed, not a correction on the application. A trust, a partner's personal name, or "and/or assigns" is not vesting. This desk does not close in a personal name. Read they will only close in your personal name if that is the stall you already hit, and do not bring that vesting here as a temporary step.
The person who signs has to be allowed to bind the entity. One spelling of the name should appear on the operating agreement, good standing, the assignment, the deed, and the loan. A brand-new LLC can be the borrower when those documents exist and you will not occupy the property. Form it before you ask for a read. Nothing here says a new entity is approved.
The fee on the settlement statement
The assignment fee has to be visible at closing. The settlement statement is where the seller's price, the end buyer's price, and the fee can be read together. A fee paid outside closing, or a fee the statement does not show, is not part of the purchase this desk can read.
This page will not say how large a fee can be, and it will not publish a cap. The question is whether the fee is disclosed and whether the end buyer is actually buying the property. Leaving the fee off the statement does not make the file cleaner. Putting it on the statement does not turn the fee into its own loan.
If the only money you want is the fee, and the end buyer is paying for the property without this loan, that request is not this page. If the end buyer needs the loan to buy, the request is the purchase, and the fee is a disclosed line inside that closing. Funds go through closing, to the parties the statement names, against a deed the entity can take. A wire before title can insure is not a closing.
Title has to insure the chain
Title is the check on whether the contract is real. The commitment has to be able to insure a deed into the end buyer's entity. The owner in title has to be the seller on the purchase contract, or the gap has to be one title will accept. An assignment does not create ownership. It moves a contract.
The wholesaler often is not on title. That can still be a normal assignment, because the wholesaler never had to own the property. Title insures from the seller to the end buyer, and the assignment shows why the end buyer replaced the original buyer. Put the assignment in the title package. If title cannot insure that path, the file stops until it can.
Liens, judgments, unpaid taxes, and a seller who is not the owner still have to be cleared or explained. An assignment does not erase them. If you do not know what is on title, say so. Do not send a guessed owner. After the deed, insurance has to name the entity that owns the property.
A flip, or a hold
If the end buyer is flipping, the exit is a sale, and the rehab budget has to be in the file with the contract and the assignment. Rehab draws are how work gets paid after it is in place. ARV versus as-is is how value gets read. A flip story with no executed contract is still not a contract.
If the end buyer is holding, say what the hold is. If you need time between this closing and a sale or a refinance, that question is the bridge. The bridge does not repair a contract that cannot be assigned, and it is not a promise of permanent debt. Either exit still needs the entity, the $100k floor, the contract, the assignment, the fee on the statement, and title that can insure.
When it works, and when it is a no
It can work when the end buyer is an entity that will take title, you will not occupy the property, the purchase contract and the assignment are executed, the fee will show on the settlement statement, title can insure the chain, and the loan is at or above the $100k desk floor. A flip also needs a rehab budget and an exit. Your own attorney has reviewed whether the contract allows the assignment. A file that can be read is still not an approval.
It is a no when the request is only the wholesaler's fee, when there is no executed contract, when title cannot insure the transfer, when the contract prohibits assignment and the required consent is missing, when title will land in a personal name, when you will live in the property, or when the request is under the $100k desk floor. Label a double close as a double close.
What this desk is — and is not
The property can be in any state we can close. We do not publish an office address. This is a national desk, not a city page. Terms vary by lender, property, and borrower entity. Not available in every state. We will not invent a rate, a credit cutoff, a leverage figure, or a typical fee.
Business-purpose only. Borrowers close in an entity. If you will live in the property, this site is the wrong desk. We are not a bank, and we are not an NMLS-licensed consumer mortgage lender. We do not give legal advice on whether a contract may be assigned. We do not warehouse the loan. A page about what the desk can and cannot fund is not an approval.
How to put the file here
- Confirm you will not occupy the property. If you will live in it, stop.
- Entity ready to take the deed. Operating agreement, EIN, good standing, and a signer with authority. If the deed is planned in your personal name, read they will only close in your personal name and do not send that vesting here.
- The contract and the assignment. Both executed. The clause on assignment, or the seller's written consent if the contract requires it. Your own attorney on that question. We will not be that attorney.
- The fee, title, and the exit. The assignment fee as it will appear on the settlement statement. How title will insure the deed into the entity. If it is a flip, the rehab budget and the sale. If it is a hold, or a short bridge into a later loan, say that and read bridge loans before you call the purchase something else.
- Apply. Same intake as the rest of Funded Funding: the application. Apply here if the end buyer is an entity taking an assignment and closing on the property.
Related reading
- Why This Desk Will Not Fund Under $100k
- Buying Subject-To and Why We Still Need a Clean Entity File
- Want Real Estate Funding? Here's Why You Need an LLC First
- They Will Only Close in Your Personal Name
- Fix and Flip Loans: How to Fund Your Next Renovation Project Through Your LLC
- How Rehab Draws Actually Work on a Flip
- ARV vs As-Is: What Private Money Looks At
Frequently asked questions
Does this desk fund a wholesaler's assignment fee as its own loan?
No. The loan is the end buyer's purchase of the property, closed in an LLC or another business entity. The assignment fee can appear on the settlement statement as part of that purchase. It is not a standalone loan to the wholesaler, and it is not a loan on a deal that never closes.
Who is the borrower when a contract is assigned?
The investor who takes the assignment and closes. That buyer is an LLC or another business entity, and that entity takes title. The wholesaler who only assigns the contract is not the borrower on this desk's loan.
What does the file need?
An executed purchase contract, the assignment agreement, the assignment fee disclosed on the settlement statement, title that can insure the transfer, and the entity documents. If the end buyer is flipping, the file also needs a rehab budget and an exit. A message that says you have a deal is not a contract.
What if the contract prohibits assignment?
Some contracts prohibit assignment, or they allow it only with the seller's written consent. Have your own attorney read the contract before you rely on an assignment. This page is not legal advice. If the contract does not allow the assignment, this desk does not fund around that prohibition.
Will you fund a deal with no contract or no chain of title?
No. There has to be a real contract and a chain of title that title can insure into the end buyer's entity. A file with no contract, no assignment, or a chain title will not insure is not a file this desk funds.
What is the minimum to fund, and who closes?
The desk floor is $100k. Files under that are not this desk. Borrowers close in an LLC or another business entity. The loan is business-purpose. If you will live in the property, this site is the wrong desk.
Ready to get funded?
If the LLC is the end buyer, the contract and the assignment are executed, and the fee will be on the settlement statement, send the file. Include the operating agreement, the EIN, good standing, and who signs. No fake funded counts. No stock testimonials. No owner-occupied loans.
Ready to get funded?
Apply on the same intake we use live, or call or text (520) 552-7065.