The Vestor's Voice® is a newsletter for franchisees of HomeVestors of America. When you have news, questions, comments or ideas, please send them to us for publication. Submit photographs, too!
Scott White, Editorial Director
Send your materials to our Editorial Director, Scott White.
Franchisees have more options for financing houses By Howard Garfield
HVA is pleased to announce that the Finance Department has successfully increased its warehouse line of credit with Textron from $50 million to $75 million, with the option to extend the line to $100 million. This increased facility provides HVA a greater capacity to meet our franchisees' acquisition needs.
In addition to the increase, for the first time, the facility also allows HomeVestors to lend directly to investors who are buying homes from HVA franchisees.
The Finance Department is now working on an expanded Wealth Builder and Franchise Owner Note program with Texas Capital. We are looking to increase this credit facility from $2 million to $5 million, and decrease the interest rate. Once we accomplish this, it will provide additional funds to expand our Wealth Builder loan volume. It will also allow the owner-financed note program to be implemented system wide.
. . . Howard Garfield is HVA's chief financial officer. You can contact Howard at 972.761.0046, ext. 132.
