Fix & Flip Line of Credit │ No income verification. 24hr Approval
A true stated income, Fix & Flip Business Line of Credit!
Here at Oracle Loans we offer a unique solution for borrowers seeking financing without the hassle and uncertainty of traditional lending. Among these programs one truly stands apart from the rest; the Stated-Income Business Line of Credit for real estate investors who engage in Fix & Flip. This program offers a hassle-free experience for fix & flip business owners who need access to credit without having to worry about the time, costs, and documentation requirements often associated when getting a mortgage, loan, or home equity line of credit.
The beauty with this program is that there's no income verification, no financial documentation, and is 100% unsecured which means there is no collateral requirement. Also, since these credit lines do not report to your personal credit report it will not affect future financing transactions, such as getting a mortgage. Because of this flexibility it comes as no surprise that our most popular clients include real estate investors. Whether seeking to fix and flip, or fix and hold, this program allows investors to have open credit lines to make repairs or improvements not only for current projects, but future projects as well.
Whether you were turned down in the past due to the property type being ineligible, LTV was too high, DTI / DSCR was too high, or qualifying income was too low, the Stated-Income Business Line of Credit bypasses all of those major obstacles and lets you stay on track to accomplish your fix & flip goals.
As always, it's important to first know whether the basic lending criteria matches your scenario. Please refer below for an overview of the Stated Income Business Line of Credit:
STATED-INCOME LINES OF CREDIT:
- Credit Lines: $10,000 - $250,000
- 0.00% interest for first 6 – 12 months
- After introductory investor period ends, rates start at 8.99%
- If you have a 700+ FICO, no co-signer is required
- If your credit score is between 400 – 699 FICO, a co-signer will be required and must have a 700+ FICO. The co-signer does not need to be affiliated to the business.
- Upfront Fees: None
- No income verification
- No financial documentation required
- No collateral required, this is an unsecured program
- All industries are eligible
- Credit lines WILL NOT report to your personal credit report
- Business must be active for a minimum of 1 day
- Must have a legal US entity with Tax ID (LLC, Corporation, Partnerships, etc.)
ARE YOU A REAL ESTATE AGENT, LOAN OFFICER, OR OTHER INDUSTRY PROFESSIONAL WHOSE CLIENTS CAN BENEFIT FROM THIS LENDING PROGRAM? If so, we invite you to become an APPROVED PARTNER. Being offering flexible lending programs to your clients and earn a steady stream of commission along the way. Click here to become and Approved Partner.