Lender · Bolton, CT · Member since 2017 · 253 posts · 88 votes
Fix and Flip funding 90/100
Purchase and Rehab (12 months) Guidelines & Pricing:
Loan Amount: $75k-$3M
LTV of Purchase price: up to 85% for new investors 650 FICO MIN or 90% LTV for experienced investors (3+ properties held or purchased within 36 months 680 FICO MIN)
LTC of Rehab amount: 100%
Max Loan to ARV: up to 75%
Minimum As-Is Appraised Value: $50k
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Warrantable Condos; Townhomes; Planned Unit Developments (PUDs)
Term: 12 months
Rate: Starting at 8.99%
Points: Vary based on loan amount
Credit Score: 650 Minimum
No pre-payment penalty
Can refi to 30 year term for buy and holds
- States: Available in AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, PA, RI, SC, TN, TX, VA, WA, WV, WI, WY