844-244-1420
PREMIER PROGRAM – FIX & FLIP FINANCING CRITERIA
– 100% Financing with Max Loan Amount 65% Of After Repair Value!
– 95% Financing With 5% Down Payment (Total purchase and rehab cost not to exceed 70% of After Repair Value)
– Loan amounts from $100,000.00 – $750,000.00!
– Minimum 660+ Qualifying Credit Score!
– Minimum Purchase Price Of $100,000.00 ($100,000.00+ in some market areas)!
– Minimum Of 2 Qualifying Deals Of Completed Flip Experience Required!
– No As-Is Value Determination Requirement!
– 9 Month Term!
– No Prepayment Penalty!
Nationwide Funding Available, except AK, AZ, CA, ND, OR, NV, SD, VT and NO RURAL PROPERTIES
100% Financing Program Highlights
- 100% Financing Of Purchase Price!
- 100% Financing Of Rehab Budget!
- Rehab Budget CANNOT Exceed Purchase Price!
- Must provide most recent years tax return!
- No Personal Income Verification!
- Minimum 2 Qualifying Deals Of Experience For 100%!
- Minimum $50,000.00 liquid cash assets required!
- No Prepayment Penalty!
- Must Close In Name Of Business Entity!
- Use ARV Only – No As-Is Value Requirement!
- No Employment Verification!
- Approximate 15 Business Days To Close!
Loan amounts are from $100,000.00 – $750,000.00.
Maximum Loan To Value (LTV) With 100% Financing:
2-9 Deals Of Experience*: Up to 65% of After Repair Value (ARV). 5% down payment allowed up to total purchase and rehab cost of 70% of ARV.
10+ Deals Of Experience*: Up to 70% of After Repair Value (ARV). 5% down payment allowed up to total purchase and rehab cost of 75% of ARV.
*Guarantor must have documented ownership in qualifying deals for experience.
**Qualifying deals of experience are defined as: ownership interest in residential properties that were renovated and sold within last 36 months and/or residential properties renovated and converted to long term rentals within last 36 months.
Interest Rate Range:
Interest rates range from 9.99% to 11.99%, interest only monthly payments.
Property Types
Residential includes: single family, 2-4 units, condo’s and townhomes.
Term Of Loan
9 month term. Optional 3 month extension available.
Days To Close
Approximately 15 business days after payment for property appraisal.
Property Appraisal
Property appraisal is required. No As-Is value requirement. Funding based on After Repair Value only.
Loan Origination Fee:
– Loan origination fee: 3.99% of total loan amount or $4,795.00 (whichever is greater).
Other Lender Related Cost:
– Underwriting Fee: $1,000.00
– Processing fee: $795.00
Prepayment Penalty
No prepayment penalty.
Required Documents For Underwriting Approval
– Copy of last 2 months bank statements
– Copy of fully executed purchase agreement
– Clear and legible copy of government issued ID (all members of business entity)
– Copy Of IRS EIN Letter for business entity
– Copy of Articles of Organization for LLC or Incorporation for a Corporation (if applicable)
– Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation
– Completed loan application (Form Provided)
– Real Estate Owned/Experience Spreadsheet (Template Provided)
– Renovation construction budget spreadsheet (Template Provided)
– Estimation Of After Repair Value Sales Comps (Template Provided)
– Copy of most recent tax return (Not for income verification purposes. Document filing and paying of taxes)