Real Estate Investor Funding
As a Mortgage Broker Specializing in Rehab and fix and flip financing we offer many programs, including many residential fix and flip programs that offer No Money Down 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 three 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% Financing for Purchase and Rehab
- Minimum Credit Score: 660 to 680 (lower credit score equal lower loan to After Repair Value)
- Experience: 3 to 4 projects in the last 2 years ( no experience programs available)
- Cash Reserves: Minimum 15% of Project
- ARV: 55% to 70% (depending on experience, credit, state the property is located and cash reserves)
- Rates: 10.5% (for conventional borrower) to 16%
- Points: 3% to 6% (full doc program allows closing costs to be financed in loan)
- Term: 6 to 9 months
- States: Colorado, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Virginia, Illinois, Indiana, Louisiana, Michigan, New Jersey, Ohio, Texas, Washington, Wisconsin and Washington D.C.
- NO RURAL PROPERTIES
- LIMITED GAP FUNDING, PRIVATE LENDER, AND JOINT VENTURE OPTIONS AVAILABLE
FOR MORE INFO EMAIL INFO@FBCFUNDING.COM