Fix & Flip

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Fix and Flip Loan 

Fix and flip loans provide short-term financing for investors who buy, renovate, and sell properties for profit. Here are the essential requirements and features:
Borrower Experience

- Non-Experienced Borrowers:-0-4 property sales.

Pro Borrowers: 5+ property sales in the last 24 months.
- Benefits: Higher loan amounts, faster closing, lower interest rates.

Loan Leverage and Types

- Purchase Loans: Up to 90% purchase + 100% rehab costs, capped at 70% ARV minimum FICO of 620

Loan Amounts and Terms

- Term: 12, 18, or 24 months.

- Minimum: $100k minimum purchase price

Max: $3 Million 

Appraisal: Virtual options available & One site. 

Documentation and Verification

Minimal Documentation: No W2s, income verification, PFS, or bank statements required for some programs.
- Ownership: Guarantor must have at least 25% ownership.

Closing and Funding Timeframes

- Closing:
- Pro Borrowers: 7-10 business days.
- Non-Pro Borrowers: 10-15 business days.
- Draws:Max of 11 draws per project with associated costs.

Fix and flip loans require attention to credit scores, borrower experience, property specifics, geographical limits, and loan terms. This condensed overview highlights the essential criteria to secure financing for real estate projects.

Pre Application

How we work

01.

Pre-Application

Flip loan application on the lender's website or through a provided link.Fill in basic details like contact info (name, email, phone) and property specifics (address, value, purchase price, renovation budget).

02.

Submit Application
After completing all required fields with accurate information, review it for correctness. Once satisfied, submit. Response time varies; you might receive immediate acknowledgment or await further communication from the lender.

03.

Submission 

Once you complete the app, you will have options to receive emails per your deal. In addition, be sure to click on the Borrower Dock section to also receive email notifications and upload documents. 

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Complete the Pre Application

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