Gorilla Financing

Gorilla Seller Financing is available to purchasers of Gorilla Capital homes. Gorilla offers two types of seller financing and can also provide buyers with FHA, VA, USDA and Conventional financing options through our preferred mortgage lender.

Gorilla Financing -- Investor/Contractor Short Term Loan.  Our short term seller financing is intended for buyers who plan to spend 30 to 60 days making repairs and improvements to the house.  After repairs are made the buyer will obtain a market value appraisal of the retail value of the property and either obtain permanent financing based upon the appraised value or sell the home at a retail value.  Typically, with $10,000 to $15,000 of repairs and improvements to the house and yard, the house will appraise for a retail value of $40,000 to $50,000 higher than the purchase price. For example, after cleaning and making improvements to the property, a home that is purchased from Gorilla for $120,000 will normally appraise for $160,000 to $170,000.  Gorilla will finance 90% of the purchase price.  Our standard loan terms are: interest only payments made monthly (1% per month -- 12% per annum), no loan fees, no points, no application fees, no hidden charges.  Since Gorilla Financing is made directly from Gorilla Capital, we are able to customize the financing terms as necessary for special circumstances.

FHA, VA, USDA, and Conventional Financing.   Gorilla stays on top of all types of financing available in the market.  Many customers are surprised to learn of the 100% financing that is possible through VA or USDA loan programs.  In addition, FHA loans which require 3.5% downpayment and conventional mortgages that require 5% to 10% downpayment are available.  Gorilla can direct you to a mortgage lender that can place you into a mortgage that makes sense and meets your needs.

Government Grant Programs and Tax Credits.  Gorilla Capital stays abreast of all government grant programs, including city, state and federal grants for first time homebuyers.  And every Gorilla Capital home qualifies for the $8,000 (or 10%) federal tax credit for first time home buyers.  You can apply to receive this tax credit immediately upon purchase! 

We welcome buyers that have their own bank or private financing and we welcome buyers that wish to use Gorilla's seller financing as a short term solution while they improve and remodel the home or improve their credit and qualify for a conventional loan.  Most importantly, even if you do not think you can qualify for a mortgage loan, you should talk to Gorilla and let our mortgage expert provide you with their best advice -- there is no charge and we are eager to help.