Flippers Acquisition/Construction Funding

A Loan Specially Designed For Residential & Commercial Property Flippers!

Purchase and Rehab that non-owner occupied Single or Multi-family residential property with our 6 or 12 month interest only Acquisition & Construction loan.

Whether funding your Partnership, Corporate Entity or you individually we focus primarily on the value of the real estate deal. Our flexible underwriting approach allows us to make a loan with rates and credit scores as low as 10% and 600 respectively. And with our generous loan limits of $10,000.00 to $2 million dollars per deal you be able to acquire the funds you need on most any flip deal. We will also fund certain commercial mixed use projects on a case-by-case basis with this product.

PRE-APPROVAL & PROOF OF FUNDS LETTERS AVAILABLE

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Criteria & Guidelines

   
Application Response Time 24 hours
Processing & Closing 5 – 20 day Turnaround
Loan Type First Mortgage Deed of Trust
Max Loan Amounts $2,000,000 No Minimum
Loan to Value 70% of 'As Rehabed' appraised value
Minimum Credit Score 600+
Borrower purchase equity 10% Minimum
Property Type Non-Owner Occupied Single Family Residential, 1-4 Family, Mixed Use, Commercial
Term/Amortization 6 or 12 Months / Interest Only
Rate 8%-14.99% Fixed
Points 2-6 Points
60 day & 6 Month Extensions Available
Fees
Appraisal Fee (Typically) $300-$500
Commitment Fee $895
Document Prep $500
Rehab Escrow Fee $300
Draw Inspection Fees $150 (each)

                                                    

BANK REO - FLIPS - REHABS - NEW CONSTRUCTION
Foreclosure Pre-Approved Credit lines Available

Liberal  Underwriting & Credit Approvals

  • Must be Non-Owner Occupied
  • 10% to 20% Equity Required depending on determined Loan To Value
  • Loan Amount based on "As Completed" Value
  • Rates are Interest Only
  • Fixed Rate
  • 6 or 12 Month Start Terms
  • Liberal Draw Structure
  • Commercial & Mixed-Use Considered

 

OPTIONS:

  • Permanent Takeout 30 Year Mortgage with 3 or 5 year fixed rate adjustable
  • 100% Joint Venture Financing with lender Affiliate
  • 60 Day Loan Extension
  • 6 Month Loan Extension
  • Construction Management & Supervision Services
  • Contrator & Sub-contractor assistance for your job

Above Rates include borrower using our approved title company and property insurer. Additional rate and/or fees may apply should borrowers elect to use their own title and property insurer.

*BE SURE TO ALWAYS CALL FOR CURRENT RATES, TERMS AND FEES

Amortization Rate Points Loan to Value Equity Required
6 months Fixed/ Int Only
0.0000.00050%0%
0.0000.00060%10%
0.0000.00065%15%
0.0000.00070%20%
12 Months Fixed0.0002.000
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