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RENOVATION "FIX AND FLIP" LOANS

Rates as low as 7.49%
Up to 90% of Purchase
QUICK APPROVALS / fAST CLOSINGS 

We provide funding for fix and flip projects.  Our loans are easy, straight forward and require minimal paperwork.  General guidelines:

  • 7.49% to 11.99%, annualized simple interest (based primarily on experience and credit)

  • 12 months (extensions available)

  • $100,000 to $2,500,000

  • Up to 90% of purchase price (based primarily on experience and credit)

  • 100% of rehab budget

  • 70% Max LTARV

  • Prior experience preferred.  However, we also work with new investors.

  • Close within days of appraisal and satisfactory title work

  • No tax returns | No employment verification | No seasoning of funds

  • We are based in Washington DC but can lend up and down the East Cost (and other states case-by-case)

Click here for our rehab worksheet.  Click here for our experience worksheet.  

ADDITIONAL GUIDELINES:

LTC RATIOS

  • 0 to 1 projects completed in the past 3 years, we will fund up to 80% of purchase price
     

  • 2 projects within the past 3 years, we will fund up to 85% of purchase price
     

  • 3 or more projects completed within the past 3 years, we will fund up to 90% of purchase price

 

We typically fund 100% of rehab budget 

The above LTC Ratios are based on both credit and experience.

PROPERTIES

  • Single Family (1 to 4 units)
     

  • Townhomes
     

  • Condominiums (warrantable)
     

  • Mixed Use (at least 51% of square footage must be residential)
     

  • Multi-family 5+ units considered case-by-case

DOCUMENTS

 

  • ​Ratified purchase contract

  • Detailed renovation budget

  • List of previous projects or properties you currently own

  • Entity documents (i.e. Articles of Organization, Operating Agreement, Certificate of Good Standing)

  • Driver' License (or government issued ID)

  • Proof of funds to close

  • Proof of insurance (prior to closing)

VALUATIONS

  • Full appraisals are usually required
     

  • BPO Option (faster than appraisal, 3-5 days). Contact us for details.
     

  • No Appraisal Option
    (for experienced, high volume investors). Contact us for details.

     

  • The above BPO and No Appraisal options are only available in Metropolitan areas

 

To download our current matrix, please click HERE