Fix and Flip

Get the financing to purchase distressed homes that require fixing up to resell for a profit or keep for long-term capital appreciation and income.

Fast draw approvals for 1-4 unit, non-owner-occupied residential properties, warrantable condominiums, townhouses, PUDS (planned unit developments), and log homes if common to the area (minimum gross living area: 700+ square feet per unit on less than 2 acres).

Finance up to 75% of ARV is covered by 92.5 percent of hard and soft expenditures.  There are no fees to pay, no tax returns, and no income verification necessary.

Loans are available nationwide for urban, suburban, and rural areas. Loan amounts range from $500,000 to $5 million per project with terms of 13, 19, or 24 months. The interest rate is 6.5%. Experienced borrowers pay interest on the funds drawn.

An experienced partner can be added as a co-borrower who owns 1%+ of the LLC/Corporation. Non-recourse is also available for experienced borrowers (25 to 50 bps to rate with typical bad boy carveouts). Origination varies with the last 3 years of property rehabilitation experience taken into account.

Hard and soft costs directly related to loans can be financed. Costs not part of actual rehab cannot be financed, such as interest, loan and realtor fees, etc. Subordinate debt is permitted depending on lender approval.

There is no prepayment penalty or minimum interest payment. Eligible borrowers are U.S. citizens, permanent residents, and foreign nationals with a 620+ mid-FICO credit score. 

Bankruptcy, foreclosure, short-sales, or deed in lieu in the last 3 years will result in the application being rejected. 

Properties ineligible for finance are: owner-occupied, commercial, unique, manufactured, mobile homes, condotel, timeshares if appraising less than $25,000, and unimproved land not intended for the build.