FIX & FLIP
Acquisition & Renovation(12-18 Mo.)
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 renovation experience as well as the renovation budget and scope of work on your project will dictate program availability. These loans typically close in 15 Business days or less.
TERM: 12-18 Months
ARV: Up to 70% of Appraised ARV
Credit 620+
LTC: Up to 90% of Total Project Including Acquisition & Renovation Costs
Down Payment: As Low As 10% Down
Loan Amount: $75,000 – $10,000,000+
One Loan Including Acquisition & Renovation Costs
No Pre Payment Penalty
Investment Properties Only
Must Be Held in An Entity
No Owner Occupied Properties
Residential 1-4
Typically 5-8 Days to Close
Programs Available Nationwide
RENT & HOLD
Longer Term Hold (24 Months+)
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 Products
LTV: Up to 80%
Min Credit Score: 650
Loan Amount: $75,000 – $10,000,000+
No Income Verification/DTI Calculations
No Personal Tax Returns or 4506
No Limit on Number of Current Loans
Rents, LTV, Credit Score Determine Interest Rates
3 Year Pre Payment Penalty 3/2/1
Rented or Rent Ready Properties
SFR, 2-4 Unit, or Condo
Typically 14-21 Days To Close
Vacation Short Term Rental Program Available Case by Case
Program Available NationWide
REFINANCE/BRIDGE
Shorter Term (12-24 Months)
Short term refinancing is for the investor who wants cash out. Possibly for 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 best terms in our Rent & Hold programs. Bridge Loans are great options 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 with investors own capital. These loans typically close in 15 days or less.
Short Term: 12-24 Months
LTV: Up to 80%
Credit 620+
Loan Amount: $75,000 – $2,000,000+
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
Residential 1-4 or Multifamily
Program Available NationWide