Residential Fix and Flip Funding Guidelines
Purchase and Rehab
Loans Available in these States:
CA, TX, WA, TN, CO, VA, WV, GA, FL, IL, OH, PA, SC, MO, MI.
- Purchase & Refinance Origination Fee 3-4%
- Interest Only 8% to 11% 12 month
- Purchase plus 100% rehab available.
- Total loan amount MAX $1M.
- 1 -4 Unit SFR, including condos, townhomes, & PUDs
- LTV starts at the property AS IS value NOT what you are in contract for (up to 75% LTV of AS IS value).
Rehab funds are 100% draw based. Meaning based on completed work. Client does approx. one third of the work and requests a draw through our Processing Dept.
Note: Minimum $75k total loan. Minimum population 30-50k towns + case by case if in a low population area.
- NO second position allowed after 1st position
Judicial states – Add 50% more to rate (Florida, Illinois, Ohio)
- Non owner occupied only
Acquisition: Live-in Condition Only: NM, OK, WY NY, NJ