Updated over 9 years ago on . Most recent reply
Flip Funding up to 100% PP/Rehab and rates starting at 7%.
Fix and Flip Programs
Program #1
-90% of PP -100% of Rehab
-Up to 77.50% of ARV -Rates start at 7% I/O -3-4 points
-12 month term -No PPP
Available in the following states: AZ, CA, CO, CT, FL, GA, IL, MD, MI, MO, NC, NV, NY, OH, OR, PA, SC, TN, TX,VA, WA, and WV
Program #2
-80% of PP -100% of Rehab -12% I/O
-4 Points
-6-12 month term -No PPP
Available in NJ and surrounding areas
Program #3
-75-85% of PP -100% of Rehab -12% I/O
-Up to 65% ARV -4-5 points
-12 month term
Nationwide except for NV, AZ, OR, and MN
Program #4
-100% of PP -100% of Rehab -13.9-14.9% I/O -Up
to 65% ARV -4-6 points
-No PPP
-12 month term
-Min credit score of 660 or higher Nationwide
Program #5
Lines of credit and loans from $50,000 -$7,000,000 (allowing you to purchase several properties within a 12 month period)
Fund lesser of 80% of Acquisition and Rehab Costs or 65% of After Repair Value (ARV) on Residential Properties (1-4 units). We fund rehab draws
Fund lesser of 75% of Acquisition and Rehab Costs or 60% of ARV on Multifamily Properties (5-30 units)
No application fee for credit line approval
Monthly payments are interest only
No prepayment penalty (3 months minimum interest)
Currently lending in approximately 48 states (exclusions include CA and NV)
We only lend on Non-Owner Occupied Properties
Borrower must have prior investment property experience
Experience: Borrower must have previously purchased at least 2 investment properties.
Liquidity: Cash to fund their equity requirement.
Minimum FICO 620.
Minimum Net Worth: $150,000.
We will evaluate substantial credit issues, foreclosures/short sales.
Borrower is free of significant open judgments and pending litigation.
Please feel free to contact me to get you started in one of our programs.
Jonathan Casillas
Foxworth Commercial Capital Sales Director
www.foxworthcommercialcapital.com
Conference Line1-302-202-1108 (156465)
Private Funding for Projects: $10 million to $5 billion