Home of the Flipper Fund and Fast Real Estate Funding
Here’s the latest update on funding programs.
Real estate has been blazing new records, even during the covid pandemic. The programs just keep getting better and better it seems. From a high level here’s what new. Scores requirements for our score driven programs has dropped from 680 to down to 620.
Yes, we still have all of our asset based programs as well that don’t require credit scores to do deals. Typically when a new submission comes in we can assess pretty quickly how we can help each borrower and what program they might need.
We are offering some the most competitive programs on the market with LTC’s ranging from 85% all the way up to 100% financing. We are even giving rehabbers cash back on flips and new construction at closing as long as the numbers work.
On average we are seeing 90% LTC / 100% Rehab / 75% ARV followed by the 100% LTC / 100% Rehab/Construction / 65% ARV. The difference you see in the ARV is primarily because with new construction you are capped at a slightly lower after-repaired-value.
Fix & Flip Highlights
Property Types: 1-4 Units | 5+ Units
85%-100% LTC Loan Amounts: $50K – $5MM
Points: 1-3
ARV: 65%-75%
Rehab escrow: 100%
Interest Rate: 7.5%-12%
Credit Scores:
No Score: 85% LTC / 100% Rehab up to 65% ARV
620 and up with 1-3 deals done previously 90% LTC / 100% Rehab / 75% ARV
Terms: 9-24 months, Interest Only
Unsecured Funding / GAP Funding / Working Capital
- Use funds for any purpose, Business use or Down Payment Assistance etc
- Any industry,
- No upfront fees,
- Approvals to $150,000 per principal,
- Anyone with 700+ FICO may apply, including partners or family members of business owner. 680+ encouraged to apply.
- No time in business, revenue or collateral requirements.
- Funding in combination of term loans, credit card stacking, installment loans, or credit line
How can your client use their new financing?
- Personal financing,
- Real estate down payment, carrying costs
- Any business expense,
- Alternative to MCA or Business Advance funding,
- and much more…
Funding process is easy with approvals and contracts in as little as 24 hours!
Fix & Flip Line of Credit / Exposure Lines of Credit
With one of our exposure line programs your borrowers can now enjoy:
- Low 600’s+ score qualify
- New construction at 85% LTC / 100% / Up to 70% ARV with only one previous build.
- Bridge loans – fast short term financing with 12 month terms for purchase, cash out refinance up to 75% cashout.
- Multi-family – 5+ units, fix and flip or purchase
- Mixed-Use – purchase and fix and flip (with at least 1 experience.)
- Fix & Flip – up to 95% LTC!! / 100% rehab / 75% ARV with little experience
- Fix & Flip – up to 90% LTC!! / 100% rehab / 75% ARV with zero experience
- $500K – $10MM Lines
30 Year Rental Highlights (Now up to 80% LTV)
Loan Amount: $55k-$1M
Minimum As-Is Appraised Value: $100k
Term:
• 30 Years, Fully Amortized
• 5/1, 7/1, 10 & 30 YR, Fully Amortized over 30 years
Leverage:
Purchase: 75%-80% Loan-to-Cost **New**
Refinance: Up to 80% of the As-Is Value – No cash-out so it would just new rate and term refinance to get a better rate. This is great for Hard Money Takeouts.
Cash-Out: Up to 75% of the As-Is Value
Rate: Starting at 5.99%
Credit Score: 660 Minimum
Prepayment Penalty: 5 Year Step-Down, or 3% Step Down
New Construction Credit Lines
- Experienced builders w/10+ completed
- Up to $5 million line of credit
- Up to 99% LTC for 10.99% rate
- Up to 96% LTC for 6.99% rate
- 5 year terms
- Need to have 2%-4% of project in cash reserves
New Construction
New Construction: Up to 100% LTV or 85% LTC, 65% of After Construction Value. Borrower only needs to have 1 prior deal completed or heavy construction on previous fix and flips.
We also have programs that start at 4.99% up to 75%-85% LTC for borrowers with 5-10 deals done and good to great credit that will cover up to 100% soft and hard construction costs. Submit your deal today so we can help determine best options.
Commercial Programs
Financing from $150,000 to $50,000,000 and up! Terms up to 30 Years for Owner and Non-owner Occupied properties. Purchase property, refinance existing mortgage, or obtain a cash-out mortgage.
- Fast approvals
- All credit scores accepted
- Loans ranging from $150,000 up to $50,000,000
- Loan-to-value (LTV) 65% – 75% of the purchase price
- Flexible terms, both fixed and adjustable
- All Property Types (Office, Retail, Warehouse, and more)
Interest rate: 5.375% and up on income producing
Term: 1, 3, 5, 15 & 25 Years Fixed
Amortization: 15, 25, & 30 years amortization or interest only option available.
Income Reqs: No Personal or Business tax returns required
LTV: Max LTV of 75%-80% CLTV
Loan Amounts: $150,000.00 to $50,000,000.00
Guarantor: Offering Non-recourse with standard carve-out provisions required
Borrower: Close in LLC
Foreign Nationals: Must have US based checking account
Portfolio Loans
All portfolios considered 640+ scores. Properties down to $50K on SFR and $60K on apartments.
LTV 75% – (80% potential)
Rates 4.5% and up
Min Loan Amt $50K per door