Gap financing

So attorney cost certain times is, People looking to buy a house don't get access to a 100% bond.

And so we have a product called Gap Funding that helps to fill that gap and effectively help them get a transaction over the line through the facility that they get from us.

So part of that is also the fact that we are much more concerned about you becoming a homeowner at the end of this process.

so there's various things that we do to help you with that which is around education around the right structure you need to have because our country desperately needs more homeowners because ultimately you can't build a society and a healthy community if people don't have a say and a stake in where they live you know that's the foundation and It's a national crisis.

And, and I, I'm fortunate that I've, we've got a great company and people running it, and I could spend all my time talking to clients and, like, understanding their pain.

And so I was talking to clients and I said, "I think there's a better way." And it was about combining a traditional first mortgage plus using Bonaventure's balance sheet for gap loans.

We came up with that idea last fall.

We had a group approach us this spring that had a property that went from 50% LTV to 70 and said, "Dwight, do you guys think you know, can help out here?" And I said, "As a matter of fact, we can.

the pre-sales and you go to uh a pre-sales uh a financier that does the kind of they kind of they work like a bank they call themselves financiers but they take a high interest and then they pay you the uh money that kind of a pro uh proportional to the MG minimum guarantees you get from different distributors.

And then there's a gap financing as well, which is unsold territories, they look at the sales agents estimate, and then they kind of discount it in a way to make themselves feel secure enough to give you a little chunk of money for the gap.

But Gap, you can only get up to three after three million, not below three million dollars.

And you need to be like a bonded producer to be able to access Gap.

Certain amount of films still works.

For example, if you have an action film, Scott Adkins in it, that's very action heavy.