Lender · Wildwood Crest, NJ · Member since 2017 · 317 posts · 56 votes
Real 100 % Financing - You just pay for Application, Appraisal and Credit Check. All other fees are paid at closing when you sell your project. No payments till house sells.
Our Fix Flip rehab loan product provides 100% financing for 1-4 non-owner occupied real estate properties. Credit problems understood. If you are new to real estate this is the best plan out there.
Loan Amount: Up to $2,000,000 (larger amounts case by case)
Leverage: Up to 100% of purchase price and 100% of rehab
Interest: Starting at 9%
Points: 3-5 points
Term: 9 months
LTV: Up to 70% ARV
Recourse: Yes
Pre-Payment Penalty: None
Underwrite: Light Doc (No Tax Returns, No Bank Statements, No Cash Reserves Needed)
As is Value is not considered or looked at
We put up all the cash, you do the work and control the sale
Pay 40% of the profits back at sale. You keep 60% profits
Application, Appraisal, and credit check are up cost paid to who and in approximately what amount? I.e., do I pay my appraiser, and whoever is processing the application of checking credit?