No Down Payment – 100% Rehab – Closing Costs Rolled Into Loan
No Cash for Down Payment! No Cash for Rehab! No Cash for Closing Costs! No cash to the table at all. True 100% financing for fix and flip for exceptionally well qualified borrowers. 100% financing up to 70% ARV. If the purchase, rehab and closing costs are all covered at 70% of the after rehab value there is no cash to bring to closing. Rates and fees are competitive for for investor fix and flip funding.
Who Qualifies for 100% Fix and Flip Loan Program
Exceptionally qualified borrowers only.
- Exceptionally qualified borrowers with minimum 680 credit score.
- Exceptionally qualified borrowers with at least 10% of the loan amount in liquid reserves.
- Exceptionally qualified borrowers with verifiable income and no more the 43% DTI
- Exceptionally qualified borrowers who own there personal residence.
- Exceptionally qualified borrowers for a full document, Loan Qualifications
Benefits of the 100% Fix and Flip Loan
- 100% of Purchase Price
- 100% of Rehab Costs
- Closing Costs rolled into the loan
- Max Loan Limited to 70% of After Rehab Value
- First Draw Shortly after closing to start renovation
- Pay interest only on funds you have used, not the full committed amount
Terms of The 100% Fix and Flip Loan
- 100% of Purchase and Rehab up to Max of 70% After Rehab Value
- 9 month Interest only loan
- Rate is Prime Plus 6.5%
- Additional Collateral Required – primary residence lien (even with no equity)
- Residential 1 – 4 non owner occupied properties
- Commitment Fee 3%
- Origination Fee 1% to 2%
- Loan amount $75,000 to $500,000
- Free Pre Approval Available for fast closings
Program Availability of The 100% Fix and Flip Loan
This program is not available in every state. Below are the states for the for availability.
- New Jersey
- DC Metro Area
- North Carolina
- South Carolina