Fix & Flip Loans
A fix & flip loan is a type of short-term financing real estate investors use to purchase property, renovate it, and then turn around and sell it for a profit. Many individuals and businesses use these loans to buy distressed or undervalued properties, making improvements and renovations to increase the property’s overall value. Then, they sell the property off for a significant profit.
Fix and Flip Example Terms
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TERM:
12 -24 months standard
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REHAB/CONSTRUCTION FINANCING
Funding up to 100% rehab budget up to % Approved LTV of Total Costs
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MAXIMUM LOAN-TO-COST(LTC) COST IS PURCHASE PRICE AMOUNT
Up to 90% LTC
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MAXIMUM LOAN-TO-VALUE(LTV)
Up to 70% After Repair Value (ARV) LTV
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WHEN DO WE USE LTV VS LTC?
Generally, we use the lesser of LTV or LTC calculation
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LOAN AMOUNT
$50K - $5MM
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LOAN PURPOSE
Rehab loan for non-owner occupied residential investment property
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BORROWER TYPE
Entity required
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PROPERTY TYPES
Non-Owner Occupied:
Attached or detached SFR
2-4 unit properties
Townhomes
Condos
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FOREIGN NATIONALS
Not allowed from ineligible country list
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MINIMUM EXPERIENCE
Depending on loan scenario NO prior experience required up to 3 completed projects
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Terms and conditions expressed in this website can be changed without prior notice and are examples of what may be possible, we make no promise or guarantee that the borrower will receive these terms and conditions. Each loan stands on it's own merits or lack there of.