Residential Purchase/Rehab Loan Program
We’re funding fix and flips up to 70% ARV in most states. Depending on the strength of the file, we are funding most of the purchase and rehab costs. 10% to 15% down is possible and varies based on location. Terms are 6 13 months, 7 to 14% rates, and 2.5 to 4 points. Min loan amount is $75K. Lower loan amounts on a case by case basis. Eligible property types are 1 to 4 unit residential and Condos. There is no pre-pay penalty and the more experience you have the better rate you may obtain.
Credit may or may not be an issue but we do need a credit report, which the borrower may supply to us. We will provide you with the specific application pertinent to your scenario.
The following items are also required:
+ Purchase agreement and listing info if applicable
+ Scope of rehab needed
+ Credit report within the last 30 days
Please contact us at firstname.lastname@example.org if you wish us to review a project or apply.