MoFin Lending - Fix and Flip & Rental Financing Available!
MoFin Lending is a direct investment property lender. We use our capital to close loans quickly and with ease. Right now, we're providing funding through our bridge program. Our bridge loans (similar to hard money loans) can be used for the purchase of a rental, to fund a fix and flip or BRRRR project, to do a cash-out or rate/term refinance without a prepayment penalty or for a ground-up construction deal. We can also provide financing for a commercial property, a mixed-use property, and an MFR (5+ units).
Here are some key terms for fix and flips or SFR deals (1-4 units):
- Minimum loan amount is $100k (we can take a look if the deal is $75k - $99k)
- Experience matters (if it's your first one, we may be able to lend with compensating factors like high FICO, strong liquid reserves)
- Credit score should be 650+ (if it's 600 - 649 then we'll need an additional down-payment or the rate may be increased)
- Non-rural markets
- Down-payment must come from borrower/guarantor
- We can provide up to 75% of purchase & 100% of rehab, total loan amount must be 65% ARV
We can also look at multifamily, mixed-use, and commercial. Here are some terms:
- 12-36 month term
- Up to 75% LTV (most will be in the 65% bucket)
- FICO 650+
- Industrial, warehouse, and offices
- Minimum loan amount of $50
Feel free to call me directly at 866-900-6634 or email at [email protected]. Happy to discuss any deal, even if it doesn't exactly fit the above, we can take a look.
- George Despotopoulos