Fix & Flip Pro
Are you a fix & flip pro? Don’t you deserve special treatment with your lenders? Don’t you deserve lower rate? Don’t you deserve lower points? Don’t you deserve faster closing times? If the answer is yes, yes, yes, yes, yes then here is the program for you. The Fix & Flip Pro Borrower Program.
Fix & Flip Pro Benefits
5 Day Close: Your file is underwritten once every 12 months. Once you are approved appraisal & title are ordered day one and the loan can be cleared to close in 5 business days. Term sheet in one business day. Close in 5 business days.
Reliable Source of Funds: Once approved you are given a $5 million dollar credit facility. This means you can have up to $5 million dollars outstanding at once. If your average loan size is $200,000 that means 50 deals. If your average loan size is $1,000,000 that means 5 deals outstanding at once. This allows you to have funds to close quickly always.
Premium Service: Once approved you will have a dedicated team of underwriters, loan analysts, and property value analysts to help fund your deals faster. The program also allows for reduced upfront fees.
- Purchase and Refinance (refinance within 6 months of purchase)
- Minimum Loan $50,000
- Maximum Loan $1,000,000
- 12 month interest only term with no prepayment penalty
- Max Leverage to 90% of purchase price
- Max Rehab up to 100% of rehab costs
- Max ARV up to 75%
- 8.00% at 75% LTV or lower
- 8.25% at 75% to 80% LTV
- 8.75% at 80% to 85% LTV
- 9.50% at 85% to 90% LTV
- 2 -4 unit and condo add .50% to rate
- judicial foreclosure states add 1.0%to rate
The Fix & Flip Pro Borrower Program is designed for very experienced real estate investors who have bought, rehabbed and sold for profit 10 properties in the past 24 months. Other eligibility requirements are as follows.
- Properties must close in an entity name
- Single family, 2 to 4 unit and condominium property types
- No Derogatory public records in the past 24 months
- Minimum Credit Score of 660
- No Felony convictions in the past 7 years
- Liquid Assets of at least $25,000
Fix & Flip Pro Borrower Program
If you are a professional fix and flip real estate investor who could use a $5 million dollar credit facility with lower rates and fess, plus the ability to close in 5 business days. This is the program for you.