Dear Potential Investors:
About the Company
FIRST HOME CAPITAL (FHC or the Company) is located in and conducting business in West Los Angeles, CA. The company was founded by Fred Grant in June 2011 as a Nevada Corporation and in November 2015 Mr. Grant re-domiciled FHC to a Wyoming Corporation for tax and regulatory advantages. FHC is fully licensed to do business in California as a mortgage Banker/Broker. Applications to conduct mortgage banking business for CA, CO and Texas are pending at this time. FHC is considered a Non-Delegated Correspondent and we are approved with over 21 Institutional Investor that purchase our closed loans and our brokered loans.
Warehouse Funding Facility
FHC has identified 3 warehouse facilities which are very compatible with our needs. We have been approved for warehouse line for $3MM with great terms and it is expandable to $8MM.
The Products, Services!
We also offer private money loans for non-owner occupied residential and small to mid-size commercial properties.
Marketing Positioning & Image
FHC’s web presence will be a primary method along with our referral base of CPA’s, Attorney’s and Community Banks and Credit Unions. FHC is pleased to have an exclusive contract in place with Predictive Dialer to market and generate business with approximately 5,000 to 50,000 trigger, VA, FHA and other types of leads per month – details in the PPM.
The goal and vision is as follows:
FHC has postured our tenured leadership and staff to grow this business at a challenging and manageable rate while generating profits. FHC desires to be a good citizen in the communities served and provide quality service to the market of borrowers who seek to finance a home using a government backed and conventional loan programs. In addition, our continued strong investor relationships for over 25 years gives FHC immediate strength in moving forward with a stable business plan while positioning for growth as the economy improves.
Short term goals:
· Establish warehouse line of credit with local bank. (Applications pending)
· Establish correspondent lender relationships with at least two banks. (Completed with 6 banks so far)
· Generate consistent revenue as established in monthly projections. (Completed)
· Commit to sound underwriting practices, quality control and compliance. (Completed and ongoing)
· Foster an environment of professionalism, integrity and compassion. (Completed and always ongoing)
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Introduce our net branching offers to small to mid-size mortgage brokers and loan officers!
Long term goals:
· Maintain growth of revenue using the branch system through calculated expansion and acquisitions. Significant expansion of our acquisition and creation of Net Branches.
· Maximize profit and minimize expenses through technology and outsourcing of certain duties.
· Commit to sound underwriting practices, quality control and compliance.
· Minimize unfundable loans and early payment defaults.
· Maintain sufficient loan reserves for early payment defaults and repurchases.
· Develop and strategically initiate a wholesale lending platform.
Accepting investments from $25,000.00 to $1,000,000. Goal is $5,000,000.
Under Rule 506(c), a company can broadly solicit and generally advertise the offering, but still be deemed to be undertaking a private offering within Section 4(a)(2) if:
• The investors in the offering are all accredited investors; and
• The company has taken reasonable steps to verify that its investors are accredited investors, which could include reviewing documentation, such as W-2's, tax returns, bank and brokerage statements, credit reports and the like.
SIGN IN AND REQUEST THE FOLLOWING:
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Private Placement Memorandum (PPM)
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Proforma
Please contact Alfred Grant Jr
310.562.4800 or Angelina Whittington, ESQ.
PURPOSE OF THE OFFERING
USE OF PROCEEDS AND SUMMARY OF OFFERING
SUMMARY OF THE OFFERING
The following is a summary of certain information relating to the offering made hereby. It is intended for convenient reference only, is not complete and is qualified in its entirety by reference to the detailed information available to prospective investors upon request to the Company.
The fund management Company
First Home Capital Inc (the “Company” or “FHC”) intends to continue to engage in the business of originating, purchasing, selling and servicing conforming and non-conforming residential and commercial real estate loans.
The main purpose of this offering is to raise money for BLIND POOL FUND to support the activities of our sister company that we manage PLATINUM USA EQUITY MGMT., iNC which is described below.
Use of Proceeds
The Company intends to use the net proceeds from the sale of the maximum number of Units, estimated to be gross proceeds of $5,000,000 less estimated commissions if selling agents are employed. APPROXIMATELY 10% from the proceeds of the Offering ($500,000) are intended to be used for further development of the Company's mortgage business including but not limited to Internet marketing, development of origination platforms and channels as well as mortgage products, services, geographical markets, working capital and general corporate expenses. Expenses incurred in connection with the offering payable by the Company are estimated to be approximately $300,000. The Company intends to use the balance of the proceeds from the maximum offering to make safe low risk short term Private Money Loans and acquisitions of distressed properties.
The OFFERING
The minimum purchase is $25,000. However, the Manager reserves the right, in his sole discretion, to accept subscriptions in a lesser amount or require a higher amount. Investors will be admitted to the Company on a first-in first-out basis.
The Offering will continue until the Maximum Offering Amount of $5,000,000 is sold, the Offering Period expires, or the Company withdraws the Offering.
SHAREHOLDER or PRIVATE INVESTORS INTERESTS
Investors will become a shareholder in the Fund, and will have the share issued upon subscription, to receive any potential monthly distributions from the Company eligible capital paid directly to them, or to allow all or a portion of their proportionate share of any potential Company's distributions to be retained and reinvested. In all other respects, however, an investment in the Company is not liquid and is subject to substantial restrictions on withdrawal.
It is anticipated that any income received by Members will be taxable as ordinary income.
The Offering involves significant risks described in detail in the Memorandum. Investors should not invest any funds in the Offering unless they can afford to lose their entire investment. The investments made by the company are not guaranteed by any government agency, entity or other instrumentality.
WE ARE NOW OFFERING EQUITY IN OUR COMPANY
OR
A DEBT INSTRUMENT WITH A 4.5% ROI (RETURN ON INVESTMENT)
