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Rehab fix-to-flip loans for single family homes, duplexes, triplex, quads, condos, mixed-use and multifamily

No upfront fees, tax returns or income verification

Funding in 4 to 6 weeks


Urban and suburban (population 25,000+); LTC reduced 10% for vacation areas around beaches, lakes or mountains not near larger cities with industries besides tourism.

$300,000 to $3 Million 

Term: 12 or 18 months 

Competitive interest rates fixed on drawn balance

interest only

Minimum interest: 90 days 

Origination: varies with experience 

100% of rehab budget must be financed

Experience means completed projects on title, bought & sold/refinanced in last 3 years      0-2 Experience: standard rehab 85% LTC | 70% ARV LTV; Extensive Rehab: 80% LTC | 70% ARV LTV
3+ Experience: standard rehab 90% LTC | 75% ARV LTV; Extensive Rehab: 85% LTC | 70% ARV LTV
5+ Experience: standard rehab; purchase transaction only; 10%+ down 95% LTC | 75% ARV LTV;

Extensive rehab requirements                                                                                                                                (1) Licensed general contractor                                                                                                                          (2) All construction contracts (including contracts with major sub-contractors) must be assignable.
(3) Detailed plans and specs                                                                                                                               
(4) Permits prior to first draw for projects requiring permits
(5) 3rd party budget feasibility review                                                                                                              (6) I
nvoices prior to draw for line item requests $10,000+, and lien waivers before more draws released.

Budget feasibility review for standard rehab when budget greater of $50,000, 25% cost basis of property, or project not cosmetic. If borrower completed 5 Eagle fix-to-flip loans, we will complete feasibility review

100% of rehab budget must be financed

Maximum loan lesser of:
•Total cost x LTC
•After repair value x LTV
*Loans > $1MM or above 90% LTC have additional restrictions

Rehab initial disbursement (examples available): if calculation is a negative number; this is amount of borrower self-funded rehab that must be completed before rehab draws disbursed; self-funded portion not eligible for reimbursement

Finance budgeted hard and soft costs except loan costs and interest

Multifamily (2+ units) or mixed-use:                                                                                       =(1) With 3+ completed rehab projects: standard rehab 80% LTC | 70% ARV LTV; extensive rehab 75% LTC | 65% ARV LTV                                                                                                                      (2) Multifamily 5 to 20 units with experience
(3) Mixed-Use with experience                                                                                                                          (4) 75%+ residential square footage
(5) DSCR 1.40x+

Ineligible projects:                                                                                                                                                *Tear Down
• Removal of multiple exterior walls
• Adding detached ADU
• Construction an additional story
• Additions > 500 square feet
• Conversions
• Modular Homes
• Adding additional units
• New construction 

Cost basis seasoning:                                                                                                                • Acquired < 6 months: lesser of purchase price + cost of work completed or as-is value
• A
cquired ≥ 6 months: as-is value

Mid-rehab projects ineligible 

No subordinate debt 

Liquidity: down payment + closing costs + 10% of holdback + equity shortage + reserves:
0-2 experience: 12 months reserves
3-4 experience: 6 months reserves
5+ experience: 3 months reserves

Liquidity verified by most recent checking, savings, CD, money market, stock, or annuity/IRA statements

Interest reserve: 6 months

No bankruptcy, foreclosure, short-sales or deed in lieu past 3 years

Insurance requirements:                                                                                                        (1) Hazard insurance: lesser of [100% replacement costs or loan amount] or [100% actual cash value of total insurable value] • No vacancy provisions less than 60 days (may void policy if vacant)
• Co-insurance permitted; coverage not be less than insurable value
(2) Builder’s risk
: 100% replacement cost coverage for remaining eligible project costs (including soft costs if financed)

(3) Premise AND commercial general liability $500,000+ per occurrence; may add to GC’s policy
(4) Flood insurance (if applicable): under National Flood Insurance Program (NFIP)
(5) Condo insurance (if applicable): on master policy 100% replacement and contents coverage

Foreign nationals or borrowers without FICO credit score qualify for standard rehab: 85% LTC | 70% ARV LTV or extensive rehab: 80% LTC | 70% ARV LTV 

To submit your online loan request, click the blue GET STARTED Link  for PRE APPROVAL within 48 business hours. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks are required for PRE-APPROVAL.

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