Fix and Flip Loan

The Fix and Flip Loan provides the investor with up to 90% LTC on purchase money and up to 100% of the rehab budget. The combined amounts cannot exceed 75% of the after-repaired-value. All non-owner occupied residential property types are eligible. The loan term is for 12 months (extensions available) with no prepayment penalty. This is the goto fix & flip or fix & hold loan. Funding within 1-2 weeks from submitting documents and receiving a Pre-Approval.

 

Key Points

Minimum Mid-FICO 600

LOI Within 48 Hours

No Experience Required

No interest charged on undrawn rehab funds

No Junk Fees

No Income Verification

6 months of interest only payments for reserves

10% of rehab budget in reserves for start up costs

Close within 2 Weeks

 

 

Terms

$150,000 - $10 million+

LTV: up to 90% of purchase price

LTC: up to 100% of rehab cost

ARV: 75% max.

Interest: from 7.00%*

Rate: Fixed

Term: 12 Months

Amort: Interest Only

DSCR: N/A

No Prepayment Penalty

 

 

Purpose

Purchase and Renovation

Refinance and Renovation

 

 

Collateral

PUD

Single Family Residence

Townhome

Duplex

Triplex

Quadruplex

Multifamily (5+ Units)

 

 

*Rate dependent upon credit profile, loan amount and experience (none required).