Updated about 3 years ago on .
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Investors. Fix and Flip money just got easier! US Commercial
#5 Mortgage Brokers & Lenders Contributor
- Washington, DC Mortgage Lender/Broker
We have funds for acquisition and rehab up to 80% loan to cost.
You may say, so what, lots of folks have that. Here are the nuances.
It's Interest Only
1 year with extensions if necessary, but I would hope not.
Down to a 650 credit score at 10.74%
Lender charges 2 points that CAN BE DEFERRED UNTIL THE PROPERTY IS SOLD.
US Commercial only charges 2 points and a $450 processing fee.
Rate can be bought down (but why would you) with such a short term.
First time investors are okay with a 10% LTV reduction
NO SEASONING ON DOWN PAYMENT FUNDS
No escrows required
It seems that the only real deals out there right now are properties in distress. Go get one, fix it up and sell it at these inflated costs.
Let's get busy. We originate in 36 states. Yours could be one of them.
Stephanie
202-491-6461