100% Fix and Flip Guidelines

November 28, 2016

100% Fix and Flip Guidelines

Fix and Flip

Real Estate Investor Funding

100% fix and flip guidelines for real estate investors. As a Mortgage Banker Specializing in Rehab and Fix and Flip financing FBC Funding offers many programs, including many residential fix and flip programs that offer No Money Down options for the purchase and 100% of the rehab costs for repairs. We have multiple such programs. Unfortunately, 100% purchase rehab is not available in every state and the terms vary depending on the state the property is located in. Instead of publishing all of the guidelines for all of our 100% financing programs I will publish ranges. If you meet the general criteria here, please contact us for a full pre-qualification of your project.

We offer four 100% programs with a fourth option for an unsecured term loan that turns a loan requiring down payment to 100% financing. The parameters are below. Every program is not available in every state.

100% Fix and Flip Guidelines for Purchase and Rehab

Minimum Credit Score: Minimum 660 preferably 700+ (620 with at least 1 completed flip in the last 2 years)
Experience: 1 projects in the last 2 years (no experience necessary for full document loan and at least 660 credit score)
Cash Reserves: Minimum of $30,000 for loan amount up to $250,000- or 6-months of payments plus 10% of the renovation costs.
After Rehab Value: Maximum loan will be no greater than 65% of the after rehab value (up to 75% ARV with a 700-credit score and strong experience)
Rates: starting at 12.5%
Points: 3% to 5%
Term: 8 to 12 months
States: Alabama, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Washington DC*****New York Investors: Restrictions apply in Queens, Bronx, Brooklyn, Staten Island, or Manhattan.**** Limitations apply in certain other cities – call for details

100% Fix and Flip Guidelines for Purchase Rehab with no payments

These 100% fix and flip guidelines are a financing program is for very experienced investors who have completed eight or more successful renovation projects in the last 5 years. The program is available in 40 states. Some closing costs are rolled into the loan, and the borrower has no monthly payment so the interest is due at the time the loan is paid off. The only money due at closing would be the lender processing and document fees, legal fees and title charges. The terms are as follows:

Credit Score: 620+, The rate and points are based on the loan amount, credit score and experience.
Minimum experience: 8 successfully completed projects in the last 5 years.
Cash Reserve closing costs plus 10% of the renovation costs
After Rehab Value: Maximum loan will be no greater than 75% of the ARV
Rates: 8% to 14% depending on Credit Score, loan amount and experience
Term: 6 months, 9 months or 12 months.
States: This program is available in 40 states nationwide.

CURRENTLY ON HOLD

100% Fix and Flip Guidelines for Purchase and Rehab with closing costs rolled in

Minimum Credit Score: Minimum 680 preferably 700+
Experience: no experience necessary
Cash Reserves: Minimum of 10% of loan request plus 6-months of payments
After Rehab Value: Maximum loan will be no greater than 70% of the after rehab value (up to 75% ARV with a 720-credit score and strong experience)
Rates: starting at 12.5%
Points: 3% to 5%
Term: 9 months
Full Doc with income and asset verification.