Five 100% Financing Options for Fix and Flip
FBC Funding, LLC has been offering creative financing programs for real estate investors for many years. We are pleased to offer five 100% financing options for fix and flip projects. Here are the general overview and guidelines for each program.
Program 1: 100% Financing Options for Fix and Flip – No Minimum Credit Score
This program requires no minimum credit score and no minimum experience and will fund 100% of purchase and 100% of rehab up to 70% ARV.
- Minimum Loan Amount: $100,000
- Maximum Loan Amount: $500,000
- Experience: No Minimum
- Credit: No Minimum
- Max Loan: 70% ARV
- Term 6 Months
- Liquidity: Closing Costs, plus 10% of Rehab Budget, plus 6 months interest payments
- Time to Close 1 to 2 weeks / Hybrid Appraisal
- Available States: AL, AR, CO, GA, ID, IA, MA, MD, MO, MS, MT, NC, NE, NH, OH, OK, SD, TN, TX, WA, WV, and WY – No Rural
Program 2: 100% Financing Options for Fix and Flip – No Experience Required
This program requires no experience but will fund up to 75% ARV with 700 credit score and acceptable experience.
- Minimum Loan Amount: $100,000
- Maximum Loan Amount: $1,000,000
- Experience: No Minimum
- Credit: Minimum 650
- Max Loan: 650 Credit Score = 65% ARV / 700 Credit Score = 70% ARV / 700 Credit Score + experience = 75% ARV
- Term 9 Months
- Liquidity: Closing Costs, plus 25% of Rehab Budget
- Time to Close 2 to 3 weeks / Appraisal
- Available States: AL, CT, DE, FL, GA, IN, KY, MA, MD, MO, NJ, NC, OH, PA, SC, TN, TX, and VA – No Rural
Program 3: 100% Financing Options for Fix and Flip – Gap Funding Options
This program the funding for down payment and closing costs can be funded through our Gap Funding Options. Minimum Credit Score 680. Payments Rolled into the loan with no liquidity requirement.
- Minimum Loan Amount: $100,000
- Maximum Loan Amount: $4,000,000
- Experience: No Minimum Rate, Points and Term based on experience
- Credit: 620 – based on experience 620 – 5+ Experience otherwise 660 – Gap Funding 680+ depending on credit profile and income verification
- Max Loan: 75% ARV
- Term 12 – 18 Months
- Liquidity: None required
- Gap Funding Business or Personal Term Loans (approval Based on credit profile and income) or 0% interest financing – (Approval based on credit profile only)
- Time to Close 2 to 3 weeks / Appraisal
- Available States: Nationwide Except CA, AZ, MN, NV, OR,UT, VT, ND, SD – No Rural
Gap Funding: The buyer will get financing for the down payment and maybe even closing costs from a separate source. FBC Funding has partnered with companies to offer o% funding card stacking and or term loans to facilitate Gap Funding. To qualify for the 0% Funding programs borrower should have at least a 680 credit score (preferably 720 or higher) but the approvals are based on credit profile not just the credit score. These programs require no income verification and borrower receives prequalification in 5 minutes or less. The term loans do require income verification and borrowers need a minimum credit score of 650 for these programs. Click here for free prequalification for Gap Funding.
Program 4: 100% Financing Options for Fix and Flip – Seller Second Mortgage
This program requires no experience but will fund up to 75% ARV with the seller carrying a second mortgage for the down payment. Rural Properties Considered
- Minimum Loan Amount: $100,000 (Minimum Purchase Price $85,000)
- Maximum Loan Amount: $1,500,000
- Experience: No Minimum Higher LTV with Higher credit score
- Credit: Minimum 640
- Max Loan: 75% ARV
- Term 12 Months
- Liquidity: Closing Costs, plus 3 monthly payments
- Time to Close 2 to 3 weeks / Appraisal
- Available States: Nationwide Except CA, AZ, MN, NV, OR,UT, VT, ND, SD
Seller Second Mortgage: The seller agrees to accept a second mortgage on the property for the down payment.
Program 5: 100% Financing Options for Fix and Flip – Gift of Equity
This program requires no experience but will fund up to 75% ARV with the seller giving a gift of equity for down payment. Rural Properties Considered
- Minimum Loan Amount: $100,000 (Minimum Purchase Price $85,000)
- Maximum Loan Amount: $1,500,000
- Experience: No Minimum Higher LTV with Higher credit score
- Credit: Minimum 640
- Max Loan: 75% ARV
- Term 12 Months
- Liquidity: Closing Costs, plus 3 monthly payments
- Time to Close 2 to 3 weeks / Appraisal
- Available States: Nationwide Except CA, AZ, MN, NV, OR,UT, VT, ND, SD
Gift of Equity: the seller agrees to sell the property for less than the current value. The seller agrees to give you the difference in equity. For example the current property value is $150,000. The seller wants $100,000. They sell it to you for $150,000 and gift you $50,000 with the balance of $100,000 coming from the loan. For the buyer this equates to 100% financing.
For more information
call: 888-848-3114
email: louisj@fbcfunding.com
