Finance 100% of purchase and 100% of rehab to 70% of ARV
Residential up to 20 units
No down payment for purchase and rehab
More cash in your pocket
Tax returns & income verification OR 12 month bank statement with signed 4506C to verify taxes filed
First time investors welcome!
No appraisal option: (1) metropolitan areas; (2) $300,000 to $750,000; (3) 725+ credit; (4) 3 completed projects last 3 years; 2 for repeat borrowers; (5) no appraisal with 12 months bank statements and 4506C to verify taxes filed or on extension
Competitive Interest Rates
Interest only on drawn balance
Reliable funding in 2 or 3 weeks
Nationwide (except: AK, AR, AZ, CA, HI, ID, ND, NE, NV, OK, SD, VT, and WY)
Term: 4, 8 or 12 months; must sell or refinance to pay off loan
Loan amount: $250,000 to $2.5 Million per property
620+ credit (use co-borrower if your credit below 620
No prepayment penalty
Credit score: (1) finance 70% of ARV with 700+ credit and 1 completed construction project in last 3 years; (2) 65% of ARV with 660 to 699 credit with or without experience; (3) 60% of ARV with 620 to 659 credit with or without experience
Points vary
Experienced General Contractor required with less than 3 projects on title bought & sold/refinanced in last 3 years
First time borrowers may build 2 projects at a time; repeat borrowers: 10+ projects at a time
Liquidity: 8%+ of loan amount (6 months interest + loan costs)
Principal residence within 60 miles of subject property
One-time $250 application fee
Draws: (1) work inspected by approved inspector; (2) funds released 1st business day after we receive inspector’s report
Closing costs paid at closing
First mortgage
Close in LLC or Corporation name
No bankruptcy last 3 years
Positive mortgage payment history
Recourse
Required docs: (1) 2 years personal & business tax returns; (2) 3+ months most recent personal & business bank statements; (3) 2 most recent paystubs (if applicable); (4) driver’s license; (5) purchase agreement; (6) detailed rehab budget; (7) “As is” & “After-Repair” appraisal
Legal USA resident
Proof of funds letter available RFG
To submit your online loan request, click GET STARTED for PRE APPROVAL within 48 business hours for qualified borrowers. No upfront fees, credit cards, Social Security Numbers, credit checks, tax returns or income verification required for PRE-APPROVAL.