Fix and Flip Line Of Credit

The Fix & Flip Line Of Credit is an excellent tool for the experienced and active investor. Once approved for a LOC, the line provides a streamlined lending process so you can acquire and renovate multiple properties faster, without going through a complete borrower review each time you buy a property. Once approved for a LOC we only need: an appraisal, scope-of-work, inspection, insurance and title work for each property you wish to fund on the LOC. Once the line is established, access to funds are quick and Proof Of Funds are accessible for deals requiring this. A borrower’s approval is based on experience, liquid assets, net worth, and credit score. Contact me to discuss further and streamline your business model.

 

Key Points

Minimum FICO 620

Individual or Multiple Properties

Minimum Property Value $50,000

Experience: 1 or more flips, builds or active rentals within the last 2 years

Provides proof of funds when sourcing deals

Property underwriting approval is faster with a borrower who has an Approved Line of Credit

 

 

Terms

$1 million - $25 million+

Purchase LTC: up to 90% financed

Rehab Budget: up to 100% financed

ARV: up to 75% max.

Interest: from 6.99%

Rate: Fixed

Line Term: 12 months

Loan Term: 9 months (per property)

Amort: Interest Only

No Prepayment Penalty

No Escrows Required

Revolving & Non-Revolving Options

Recourse and Non-Recourse Options

 

 

Purpose    

Purchase and Renovation of a Single Property or Multiple Properties

 

 

Collateral

Single Family Residence

Condominiums

Townhome

Duplex

Triplex

Quadruplex

Multifamily (5+ Units)