Hard Money Fix-To-Flip Loans
No upfront fees, tax returns or income verification
Property types: 1-to-4-unit residential, mixed-use, self-storage, small apartment buildings, retail shops, office buildings, bars, restaurants, and strip shopping centers
Available in Maryland, DC, Virginia, New Jersey, Pennsylvania, Delaware & North Carolina; also finance $750,000+ at 50% LTC in other east coast states.
Low credit no problem for flips; credit matters if rehab, refinance and hold for rental
Urban, Suburban and rural
$250,000 to $5 Million per property
Term: rehab, construction and bridge loans: 6 to 18 months; rental term loans 1-to-5-years with 10- year amortization
Lender determines value 3 ways: (1) appraisal; (2) BPO (Broker Price Opinion), or (3) inhouse valuation
Finance (1) 100% of purchase and rehab to 65% of appraised ARV (purchase price if no rehab or construction budget); (2) if buy below ARV, finance to 100% of purchase; (3) if appraises for purchase price, will finance 100% of purchase price if you setup construction/rehab escrow; (4) loan costs paid at closing; (5) roll some points into loan amount (6) increase leverage by cross collateralizing equity in other investment properties
Interest rates: 12% to 14% interest only
Origination: 2 to 4 points
Finance several deals at a time
Seller held notes and secondary financing permitted
Prepayment or minimum interest varies
U.S. citizens, permanent residents, and foreign nationals
No bankruptcy, foreclosure, short-sales or deed in lieu last 3 years
All loan terms disclosed before closing
To submit your online loan request, click the blue GET STARTED Link for PRE-APPROVAL Term Sheet within 48 business hours. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL for qualified applicants.