Fix and Flip, Bridge Financing

Obtain fix & flip financing for up to 90% of the purchase price + up to 100% of the renovation

costs

Collateral:

Non-Owner Occupied 1–4 Family Real Estate; Condos; Townhomes

Term:  12 Months, up to 18 at Lender Discretion

Loan Amount:  $100K–$5M

LTV:

Up to 90% of the Purchase Price + 100% of the Renovation Costs

(Not to Exceed 75% of the After Repair Value)

Property Value:

“As-Is” Appraised Value Must Be Greater Than $50k

Recourse:  Full Recourse Only

Experience:

Prior Real Estate Investing Experience Not Required

But Affects Leverage & Pricing

Non-Owner Occupied 1–4 Family Real Estate; Condos; Townhomes

Property Type:  Ground Up Construction Residential (1-4 units)

Loan Amount:  $100K- $3,500,000

Property Count:  2 max with limited experience 10max with 3+ similar projects

Term Length:  12 to 24 months depending on the project plan

MAX LTC:

Up to 75% of the land value or purchase price/60% if unpermitted, plus 100% of construction

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

MAX Loan to Cost (Total):

85% with limited experience

90% with 3+ similar projects

Max Loan to ARV:  70%

Recourse:  Full Recourse Only

Non-Owner Occupied 1–4 Family Real Estate; Warrantable Condos; Townhomes/PUD. A short-term, interest-only loan used primarily for purchase or refinance move-in ready ("turnkey") residential properties that do not require rehabilitation

Property Type:  Single Family/2-4 Unit/Townhomes/PUD/Warrantable Condos

Loan Amount:  Min:  $75K-$2M, Max:  1M for SFR, Max:  $2M for 2-4 unit

Min Guarantor Fico:  Mid-Score of 660

Term Length:  12 months, up to 18 at lender discretion

MAX LTC:  85% of Purchase and 100% of Completed Rehab Costs

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

MAX Loan to Value (As-Is & After Repair):  70%

Min Debt Service Coverage Ratio:  

1.10x standard exit DSCR

Recently completed rehabs and builds may qualify for no=minimum DSCR

Recourse:  Full Recourse Only