We’re funding fix and flips up to 70% ARV in many states. Depending on the strength of the file if you can fit the purchase price, cost of rehab, closing costs and points under 70% then you may have a no money down deal. 10% down is possible for first timers. Terms are 6 to 24 months, 9.99 to 15% rates, and 5 to 6 points. Min loan amount is $100K. Lower loan amounts on a case by case basis.
Credit may or may not be an issue but we do need a credit report, which the borrower may supply to us. Note that some of my capital sources require a PFS and others require a residential loan application. An executive summary, which we supply, is required and gives us an overview of any project you wish us to fund. A schedule of real estate is needed from those who own multiple properties.
The following items are also required:
+ Purchase agreement and listing info if applicable
+ Scope of rehab needed
+ Property tax info
+ Credit report within the last 30 days
+ We prefer verification of previously rehabbed projects. Please supply HUDs showing purchase and sale as well as a letter detailing experience. Exceptions made on a case by case basis.
100% funding is available in the following states: IL, IN, NC, SC, TN, MO, PA, OH, NY, CT, NJ, DE, & VA
Credit requirements may apply for 100% funding.
Please contact us at firstname.lastname@example.org if you wish us to review a project or apply.