Fix and Flip Financing

[David N.]

Fix and Flip Credit Line

Property Types: Residential 1-30 Units

Term: 9 month interest only

Rates: As low as 6.99%

Max As-is Purchase Price (LTC): 90%

Max Renovation Cost: 100%

Max After Repair Value (ARV): 70%

Occupancy: Non-Owner Occupied

Prepayment: 3 month

Seasoning Requirements: Call for details

Purchase or Refinance: Ok

Appraisal Required: Yes

Max Loan Amount: $5M

Min Loan Amount: $50K

Min Credit Score: 600

Fees and Required Inspections

Lender Points: 2%

Underwriting: $995

Doc Prep: $200

Appraisal: $450 or Market

Title: You are responsible to find your title company

Survey: Purchase transactions require a survey unless the title company waives requirement

 Construction Inspections: $495 initial inspection collected at closing - $145 subsequent inspections