100% Fix and Flip Financing

January 31, 2025

FBC Funding now offers a two options for 100% Fix and Flip Financing . You heard that right. We have two options for 100% fix and flip financing for new and experienced real estate investors. This article will explain the guidelines for each 100% fix and flip financing program as well as their benefits. If you are a new or seasoned investor, this could be a game changer if you want to ramp up your business.

Guidelines for “Program A” 100% Fix and Flip Financing

States: AL, AR, CO, GA, ID, IA, MA, MD, MO, MS, MT, NC, NE, NH, OH, OK, SD, TN, TX, WA, WV, and WY. The county must have a population of at least 100,000 residents for the property to qualify.
Purchase Price and Rehab LTV: 100% of the purchase price and rehab not to exceed 70% of the after rehab value. Subordinate financing available.
Loan Amount: Minimum loan amount $100,000 and maximum loan amount $500,000
Term: 6 months, with 3 month extension options.
Rate & Points: 12% and 4 points
Liquidity: Closing Costs plus 10% of rehab budget plus 6 months of interest only payments – verified with the last 2 months banks statements
Appraisals: Are not required but we require a property inspection
Closing Time: The average closing time is 10 business days of full submission.
Income Verification: None
Minimum Credit Score: None
Experience Required: None
Rural Properties: We will not fund rural properties
Citizenship: US Citizen, Non Permanent Residents and Foreign Nationals. No loans in individuals names
Borrower: US Based Business Entities (LLC, LP, Corp, etc.) No loans in individuals names. The borrows of the 100% fix and flip financing are required to personally guarantee the loan.

Guidelines for “Program B” 100% Fix and Flip Financing

States: Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia.
Purchase Price and Rehab LTV: 100% of the purchase price and rehab not to exceed 75% of the after rehab value “based on credit and experience”. Credit Score 650 – 699 = max ARV is 65%, Credit Score 700+ = max ARV is 70%
Credit Score 700+ with at least 3 completed rehab projects = max ARV is 75%
Loan Amount: Minimum loan amount $100,000 and maximum loan amount $1,000,000
Term: 9 months, with 3 month extension options.
Rate & Points: 12.9% and 3-4 points depending on loan size
Liquidity: Closing Costs plus 25% of rehab budget verified with the last 2 months banks statements
Appraisals: AMC appraisal required
Closing Time: The average closing time is 10 -15 business days of full submission based on appraisal turn time.
Income Verification: None
Minimum Credit Score: 650
Experience Required: None
Rural Properties: We will not fund rural properties
Citizenship: US Citizen and Non Permanent Residents. No loans in individuals names
Borrower: US Based Business Entities (LLC, LP, Corp, etc.) No loans in individuals names. The borrows of the 100% fix and flip financing are required to personally guarantee the loan.

Benefits of 100% Fix and Flip Financing

There are several key benefits to 100% fix and flip financing programs which include:

100% of the purchase price and 100% of the rehab financed up to 75% of the after repair value (ARV). This is great for new and experienced investors who are doing multiple deals, or just want to front as little money as possible.
No traditional appraisal for Program A. Our automated value model with our desktop appraisal system will allow us to close these loans without a traditional appraisal.
Quick close. With no traditional appraisal on “Program A” required we can close loans in 5 to 10 days or less. As of October, 2024 the average closing time is 7 business days from full submission for 100% fix and flip financing.
No minimum credit score required for Program A. We will still do a background check to confirm no major derogatory credit such as foreclosure or recent bankruptcies as well as check for financial crimes.
No minimum experience required. First time investors are eligible for the 100% fix and flip financing program.
Minimum Reserves required for program B 100% fix and flip financing.
Unlimited draws. This again helps borrowers with unlimited funds and helps the project get completed sooner. If you have limited funds you can order draws as soon as possible without needed it to be a minimum amount. Thus you can continue working to complete project quicker.
Foreign National Investors for Program A.