This Fix-to-Flip loan is perfect for the flipper who has a good/excellent credit score of 620+, and verifiable income/cash flow. The unique benefit of this product is you can get a loan for 100% of the purchase price and rehab costs, up to 70% of ARV, keeping as much cash in your pocket as possible! Most of our competitors do not offer 100% financing. It’s one of the most unique lending products around.
FEATURES & Benefits
- Term: 4, 8 or 12-month loan
- Interest: As low as 9.99%
- Loan Amount: $50k – $1M
- Points: Up to 6%
- One-time $250 application fee
- No money down
- Interest-only payments
- Financing delivered in 14 days or less
- No prepayment penalty
- Ground Up options available 1 to 4 units
- 25 States: CO, CT, DE, FL, GA, IN, IL, KS, KY, LA, MA, MD, ME, MO, NC, NH, NJ, NY, PA, RI, SC, TN, VA, WI, WV
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Our DSCR (debt service coverage ratio) loans are in high demand right now. Basically on this program we want to see that rents will cover what ever mortgage payment option you decided on. Some highlights on this are listed below:
- We can use market rent for vacant properties
- Minimum 600 FICO, Foreign Nationals with ITINs and no credit are welcomed
- Closings under LLCs and corporations are allowed
- Interest only for 5, 7, and up to 30 year fixed rate
- $75k-$3M Loan Sizes (Above that on an exception basis)
- No personal income verification (No Pay Stubs, Tax Returns or W2s)
- Loan to Value up to 85%
- 25 States: CO, CT, DE, FL, GA, IN, IL, KS, KY, LA, MA, MD, ME, MO, NC, NH, NJ, NY, PA, RI, SC, TN, VA, WI, WV