Angel Oak Prime Bridge "RE Perm" Loan

[Kyle Hricko]

Has anyone had any experience with Angel Oak financing? Their RE Perm loan is advertised as no money down as long as LTV is 65% or less of the ARV value, starts as a short term loan while the repairs take place and then goes out up to 30 years fixed afterwards. doesn't seem like a bad deal on the surface. Anyone have any experience with them? how about any other lenders listed under the Hard Money link of BP? Thanks!

[Jackson Jones]

Kyle - 

This is Jackson Jones from Angel Oak Prime Bridge

We are new to the Florida area as a lender but can take care of projects there at this time.

We do offer the 0 to low % down rehab loans in Georgia where we are located.  There are some qualifying factors, but we underwrite these loans every day.

We have a 0% to low % down product for Florida rehab projects at the present time, but we may only be able to use this financing option on a buy/rehab and hold project. We do have permanent financing products to do the hold portion of the transaction. So, we will know your permanent loan exit prior to you getting into the rehab loan. We will underwrite the rehab loan at a 65-69 LTV of the after repair value and underwrite the permanent loan at a 75% LTV giving us some room to pay all costs for the permanent financing loan.

We also can underwrite other rehab loan projects with some additional down-payment