Fix and Flip with No Monthly Payments
Fix and Flip with no monthly payments
Fix and Flip with No Monthly Payments
No Monthly Payments? New Fix and Flip purchase rehab program with no monthly payments!!! Loan payments can be rolled into the loan for 12 months plus up to 90% of the purchase price with 100% of the rehab costs. Most Hard Money Lenders look at the collateral (the property), the borrowers experience, the borrowers credit (credit score and credit profile) and the borrowers assets to determine qualifications. Some Hard Money lenders are even reviewing income and tax returns. This program uses computer analysis software that focuses on the collateral, the borrowers experience and the borrowers credit. Based on the analysis we are able to offer No Monthly Payments during the term of the loan with as little as 10% down of the purchase price. We can also advance the first draw at closing.
Fix and Flip with No Payments – Benefits
These are the benefits of this purchase rehab program.
Term: 12 months depending on how extensive the renovations needed.
No Payments: For loan to value up to 70% of the after rehab value payments can be rolled into the loan so no payments are made during the term of the loan.
Rates: Rates are from 10% to 12%. Rates are based on a combination of LTV, LTC, Borrowers experience and borrowers credit score. A borrower with extensive experience (especially recent) purchasing a property a loan to after renovation value and requires a low loan amount as compared to the total cost of the project will get the lowest rate. Rates can be as high as 12% for the riskiest projects. But even at 12% those projects would have a hard time finding the benefits of this program from another lender.
First Time Investors Accepted: Experience is a key metric in the loan qualification but we will approve first time investors as well.
No Income Verification: No income questions. No income taxes. No income verification.
No Asset Verification: No Asset questions. No bank statements. No asset verification.
Quick Close: Most loans can close in three weeks, depending on title and appraisal. The valuation is usually complete in 1 week. As long a there are no title issues the average loan is cleared to close in 14 days or less.
