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Michael Corso
  • Lender
  • Wildwood Crest, NJ
55
Votes |
317
Posts

💲💲 FIX & FLIP REAL ESTATE LOANS - LINE OF CREDIT PROGRAM

Michael Corso
  • Lender
  • Wildwood Crest, NJ
Posted Jul 11 2019, 23:22

Key Facts About Our Fix & Flip Loans

  • Rates as low as 6.75%
  • Exposure limit up to $10MM with individual loan amounts from $50K to $2MM
  • Financing for up to 90% of acquisition costs and 100% of renovation expenses, up to 75% After Repair Value
  • Exposure Limit options available for borrowers with zero experience
Fix & Flip Exposure Limit Loan
LOAN PURPOSE
  • Exposure limit up to $10MM for experienced investors
  • Up to $500K exposure limit for borrowers with zero experience
INTEREST RATE6.75% and up
LOAN AMOUNT$50K - $2MM (max $500k for inexperienced investors)
TERM12 months (standard), with optional extensions
BORROWER TYPEIndividual or Entity
MAXIMUM LOAN-TO-VALUE (LTV)Up to 75% of After Repair Value (ARV)
MAXIMUM LOAN-TO-COST (LTC)
COST IS PURCHASE PRICE AMOUNT
90%
WHEN DO WE USE LTV VS LTC?Generally, we use the lesser of LTV or LTC calculation
REHAB/CONSTRUCTION FINANCINGFunding up to 100% rehab budget up to % Approved LTV of Total Costs
PROPERTY TYPESNon-Owner Occupied:
  • Single Family Residences (SFR)
  • 2-4 unit properties
  • Multi-family 5-20 unit properties
  • Mixed-use
  • Detached or townhouse style condos



Questions Call 609-365-0001 x100

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