Apartment Fix and Flip Loans
Apartment Fix and Flip Loans
Low down payment high after rehab value programs are available to fix and flip apartment buildings. With the stock of apartment buildings old and limited with a high demand for good rental units, now is the time to invest in multifamily buildings. This is a great market to renovate and add value to apartment homes and make a great return. Real Estate Investors who want a great return on fix and flip should consider apartment buildings.
Apartment Fix and Flip Loan Guidelines
We offer multiple apartment fix and flip loan programs. I will present guidelines on three options.
85/85 Apartment Fix and Flip Loan:
- Loan To Value: 85% loan to cost. Loan to cost equals the purchase price plus the renovation costs. May qualify for 100% of renovation costs for minor value added improvements.
- Loan Amount: $250,000 to $5,000,000
- Term: Negotiable between 6 months and 2 years. Term affects rate and points.
- Credit Score: No minimum credit score, credit profile important. No recent bankruptcies, foreclosures or mortgage late payments acceptable. Open judgments must be paid.
- Debt Ratios: No Debt Ratios are calculated. But borrower must show the ability to repay the loan. We will consider cash flow and or cash reserves. This means if there is no income but adequate cash reserves borrower will qualify for funding.
- Cash Reserve: At least 15% of loan to cost must be available for reserves after closing.
- Rate: 8.5% to 17% with 2 to 4 points.
- Character: The complete file is reviewed including borrowers experience, property and property location.
- Nationwide Lender
80 /80 Apartment Fix and Flip Loan and Credit Line
- Loan to Value: Up to 80% of Purchase Price and 80% of Renovation Cost Credit line qualifies for better terms.
- Loan Amount: $100,000 to $3,000,000
- Term: 12 months
- Credit Score: 620 minimum
- Debt Ratios: None Calculated
- Cash Reserves: Minimum liquid funds are $50,000
- Rate: 7% to 11% with 2 to 4 points
- Character: Experience, Cash Reserves, Net Worth and credit determines rate, points and LTV
- Nationwide Lender: will lend in 38 states
70 / 100 Apartment Fix and Flip Loan
- Loan to Value: Up to 70% of purchase price and 100% of the renovation costs
- Loan Amount: $250,000 to $2,000,000
- Term: 12 months
- Credit Score: 600 minimum
- Cash reserve: 6 months
- Rate: 12% to 14% 3 to 5 points
- Character: Experience Mandatory no first time investors
- Nationwide Lender
Call today for more information 888-407-6953
