Help With Closing Cost: New Loan Option for Funding Mortgage Closing Costs

Share Article

Boomerang Lending provides an online variation of traditional pawn loans that allows home buyers to supplement closing funds by borrowing money against their high-value assets

People from coast to coast are recognizing the convenience of our Boomerang collateral-based loans

Homebuyers have long been challenged at mortgage closing time when they are short funds to fully fund their closing. But now there’s a way buyers can tap the cash value of assets they already own with a collateral-based Boomerang Loan. Like a pawn loan, a Boomerang Loan is fully secured. So it doesn’t affect the buyer’s credit standing, there is literally no obligation repay and loan officers can recognize the loan as an acceptable source of funds.

The down payment, title insurance, points, and other fees add up and often leave buyers scrambling to scrape together the required cash to help with the closing cost. Loan officers, however, keep a close eye on the sources of closing funds to ensure the home buyer doesn’t take on additional debt obligations before closing. Even casual loans or gifts from family members are scrutinized and considered debt obligations. But like a pawn loan, a Boomerang Loan is fully secured by the value of a personal asset. As a result, there is technically no obligation to repay the loan and no affect on the consumer’s credit standing.

Boomerang Lending makes quick and secure collateral loans against fine jewelry, watches, fine art or almost any luxury item in as little as 24 hours. Applications are taken online so customers can loan themselves money from their own homes. Items ship free of charge to Boomerang Lending via FedEx insured up to $100,000 by Lloyd’s of London. Expert evaluators assess the market value of the asset and make a loan offer to the customer. If accepted, the customer has 6 months before being required to make a payment. Boomerang returns the item to the customer free of charge, again fully insured by Lloyd’s.

“People from coast to coast are recognizing the convenience of our Boomerang collateral-based loans,” said Todd Hills, co-founder, president and CEO of Boomerang Lending. “We’ve taken the pawn loan idea and made it accessible to an entirely new set of consumers, including home buyers, who need a little extra cash to close on their homes.”

About Boomerang Lending

A member of the Better Business Bureau, Boomerang Lending offers collateral-backed loans quickly, securely and privately at 60 percent less than traditional short-term collateralized loans. Boomerang Lending executives have 25 years experience in the collateral lending industry. Based on its experience and proprietary valuation technology, the company guarantees premium value loans for customers’ assets. Boomerang Lending provides personalized attention to its customers and maintains transparency throughout the entire loan process.

For more information, visit

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Melissa Miller
Email >
Visit website