80% PURCHASE/ 100% RENOVATION

For our fix and flip program we are at 80% - 90% of the purchase price and 100% of the renovation cost plus an additional 10% for contingencies if needed. Loan cannot exceed 75% of the after repair value (ARV). Rates will start at 7.5% APR. There is no prepayment penalty. You will only pay interest on the outstanding balance, not on the renovation holdback funds. You will start paying for funds when you start using your draw funds. Loan is for residential or commercial properties.

 

  • Loan Amount           $50k to $ 45 Million

 

  • Loan to Value           80% - 90% of  Acquisition Price

 

  • Rehab Financing     100% of Rehab Cost (plus an additional 10% for contingencies)

 

  • Term                            12 to 48 Months

 

  • Interest Rate             Starting at 7.5%

 

  • Property Type          Non Owner Occupied Single Family Residence,
    ……………………………………………1-4 Unit5 + Unit Multi Family Residence,
    ……………………………………………Condo and Townhomes.

 

  • Loan Criteria            1 year to 4 Year Term Purchase
    ……………………………………………Refinance and Cash Out
    ……………………………………………Non Owner Occupancy
    ……………………………………………Foreign National
    ……………………………………………Program Lending to Corporation, LLC, & Trust
    ……………………………………………Interest Only Payments
    ……………………………………………Stated Income

 

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