Fix-n-Flip Loans

Single Family Fix-n-Flip / Rehab

No Doc – Asset Based Loans – Texas only

  • Up to 70% ARV / 90% LTC for rehabs
  • Up to 70% ARV / 85% LTC for new builds
  • Interest 12.90% / 4 points
  • No loan application
  • No credit checks
  • No appraisal (value confirmed in-house)
  • $595 Loan Docs Fee at closing
  • Can close in as little as 48 hours upon receipt of clear title
  • Reimbursement draws processed 24-72 hours
  • As many reimbursement draws as you want $150/draw inspection fee
  • Only pay interest on what you’ve drawn
  • Interest payments are made in arrears and your payment will be based on the average drawn loan size

Full Doc Loans

Best Rates – Available in Most States

  • Interest 7.99%-12% / 3-3.5pts
  • Min Loan – $50,000
  • Min Square Footage – 700sf
  • 1st Lien Position Only
  • No Prepayment Penalties
  • 13 month Term
  • Lesser of 90% of Purchase + Rehab or 70% of ARV (Min FICO 680)
  • All loans require a full appraisal with internal property pictures and dated within 180 days of loan origination.

Best Loan to Cost – Available in Indiana, Missouri, No. Carolina, Tennessee & Texas

  • Lesser of 100% of Purchase + Rehab or 70% of ARV (Min FICO 650)
  • Interest 13%-14% / 4-5pts
  • Misc Fees ~$1,000+
  • 1st Lien Position Only
  • No Prepayment Penalties
  • 6 month Term
  • All loans require a full appraisal with internal property pictures and dated within 180 days of loan origination.

Eligible Properties

  • 1-4 Unit Non-Owner Occupied
  • Duplex, Triplex, Quadplex
  • Planned Unit Developments
  • Properties with < 2 acres

Multi Family – Purchase/Rehab/Refinance/Cash Out

Loan Requirements

  • Min 5 units
  • Loan Amounts – $250,000 – $5,000,000
  • Interest Only – 2yr Term
  • 1st Lien Position Only
  • No Prepayment Penalties
  • Up to 80% for Purchase and Rehab
  • Up to 70% for Refinance and Rehab
  • 55% for Cash Out

Borrower

  • Min FICO 670
  • Full Recourse
  • DSCR / Occupancy – No requirements while being rehabbed
  • Min Liquidity of 9mo of debt service + 20% of rehab budget

Appraisal Requirements

All loans require a full appraisal with internal property pictures and dated within 120 days of loan origination.

Lending Areas

All major metro areas and small market areas nationwide.  Non-lending areas include rural and high-risk areas.

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