Fix & Flip
Acquisition & Renovation
Short term financing for the acquisition of a property as well as financing of the renovation costs in one loan. Exit plan should be to renovate and resell, or improve and rent with refinancing out to a longer term loan. Prior operator renovation experience as well as the renovation budget and scope of work on your project will dictate the project program availability.
TERM: 12 Months
ARV: Up to 70% of Appraised ARV
Min Credit Score: 640
LTC: Up to 90%
EXPERIENCED INVESTORS ONLY
Loan Amount: $50,000 - $5,000,000
One Loan Including Acquisition & Renovation Costs
No Pre Payment Penalty
Investment Properties Only
Must Be Held in An Entity
No Owner Occupied Properties
SFR, 2-10 unit, Townhome or Condo
Typically 10-15 Business Days to Close
Non Recourse options to Self Directed IRA or Solo 401K
RENT & hold
Longer Term Hold
Longer term financing with up to 30 year terms for real estate investors who are looking to buy & hold property in their rental portfolio for investment. Fix to Rent Take Out Option. The property qualifies for the loan not your personal income. Great products for Fix to Rent, or Cash Out Long Term Holds. Works well for investors looking for 1031 exchanges that do not qualify with traditional bank finance options allowing them to complete exchanges to better position their portfolio with better asset quality and cash flow. This product allows for better rates than shorter term products.
TERM: 30 Year Fixed or 5/6, 7/6, 10/6 Hybrid ARM
Min DSCR: 1.10
LTV: Up to 80% LTV
Min Credit Score: 660
Loan Amount: $75,000 - $2,000,000
No Income Verification/DTI Calculations
No Personal Tax Returns or 4506
Rents, LTV, Credit Score, and DSCR Determine Interest Rates
Pre Payment Penalties On All Loans
Rented or Rent Ready Properties Only
SFR, 2-4 Unit, Townhome, or Condo
Typically 21-25 Business Days To Close
REFINANCE/Bridge
Shorter Term (12-24 Months)
Short term refinancing is for the investor who wants cash out or no construction reserve.. Great option for a renovation or acquisition of another property while the current property is on the market or in a short term lease. Long term refinance would be an option for an investor looking to hold a property for longer than a 2 yr. term as a rental and would realize better terms in a Rent & Hold program. Bridge Loans are typically a great option for an investor with more of their own capital on hand that can be used to purchase a property needing to close quickly or at an auction with their own available cash. We would then refinance after the purchase of the property made with the investors own capital. These loans typically close in 15 -20 business days.
Short Term: 24 Months or less
LTV: Up to 70%
Min Credit Score: 640
Loan Amount: $75,000 - $2,000,000
3 MO+ Interest Reserves Required
30 Day Seasoning
No Income or DTI Calculations
No Personal Tax Returns or 4506
Must Be Held In An Entity
No Limit on Number of Loans
No Pre-Payment Penalty
Investment Property Only
No Owner Occupied Properties
SFR, 2-4 Unit, Townhome, or Condo
Non Recourse option to Self Directed IRA or Solo 401K