100% Fix & Flip Financing
"Includes Purchase & Rehab"
FREEDOM PROGRAM - 100% Fix & Flip Financing
RESIDENTIAL PROPERTIES ONLY
60% - 70% Of After Repair Value!
1. Nationwide Funding Available, except in following states: AK, AZ, CA, ND, OR, NV, SD, VT and NO RURAL Properties.
2. Minimum & Maximum Loan Amounts: $100,000.00 to $750,000.00.
**Qualifying deals of experience are defined as: ownership interest in residential investment properties that have been renovated and sold within the last 36 months or converted to long term rental.
3. Interest Rate Range:
Interest rates range from 9.99% to 11.99%% based on credit profile and prior completed flip experience.
4. Closing Cost & Lender Fees:
Closing cost and lender fees cannot be included in the total loan amount.
5. Property Types
– Residential Properties including: Single family, 2 units, 3 units and 4 units, town-homes and condo’s.
– No rural properties accepted.
6. Term Of Loan
9 month term.
7. Days To Close
Approximately 15 business days to close after payment for appraisal.
8. Property Appraisal & Estimated After Repair Value
– Property appraisal is always required. No As-Is value requirement. Funding based on After Repair Value only.
– Borrower will be required to provide 2-3 specific property addresses of sales comps within reasonable distance of the subject property to support the estimated ARV as part of the prequalification evaluation process.
9. Loan Origination Fee:
– Loan origination fee: 3.99% or $4,495.00, whichever is greater
10. Other Lender Relates Cost:
– Processing fee: $499.00
– Underwriting fee: $1,000.00
11. Prepayment Penalty
No prepayment penalty.
12. Required Documents For Underwriting Approval
– Copy of fully executed purchase agreement (if applicable)
– Copy of last 2 months personal or business bank statements
– 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)