Serious Investors Only: Proven Track Record Required
Good evening, fellow investors,
I wanted to share a genuine opportunity for experienced flippers looking to scale without draining their reserves. I work with Ascension Funding Group, a legitimate lender that specializes in real estate financing for investors like us.
Their current program is designed for serious investors who have the experience to back it up:
The Requirements (Straight Up):
• Credit: 720+ is a must.
• Experience: You need a track record of at least 10 completed flips. Crucially, 5 of those must have been in the same state as the property you're flipping. Just to be clear, this experience counts only if you or your company were on the title as an owner. Contract work or third-party flips don't qualify here.
• Property Type: The property must be urban or suburban. Rural properties are not eligible for this program.
What They Offer:
• Purchase Price: Up to 100% LTV.
• Renovation: 100% of the rehab costs (reimbursed).
• Loan-to-ARV: Up to 75%.
• Terms: 12-month term with rates between 9.5% and 11.75%.
• Speed: Draws can be processed in 4-5 days, with an average close time of 3-4 weeks.
Important Note:
While the program covers the purchase and rehab, you will need cash reserves. Borrowers must have at least 15% of the loan amount available in cash to cover closing costs (which average 2-3%), interest reserves, and any costs not covered by the draw schedule. The minimum loan amount is $100,000, and the minimum purchase price is $75,000.
If you meet these qualifications and want to keep your capital free for your next deal, this could be a solid fit. If you don't quite meet the 100% criteria, they do have other options for lower LTVs.
Feel free to reach out if you have questions about whether your experience qualifies or if this program makes sense for your next project. Let's build some wealth the right way.