Illinois Rehab Lending (Fix and Flip) Programs

FBC Funding

FBC Funding Illinois Rehab Lending (Fix and Flip) Programs for Real Estate Investors:

We offer many fix and flip rehab loan programs for Real Estate Investors in Illinois. Below is and overview of some of our top programs. With Flexibility to offer many options FBC Funding is a nationwide broker for rehab programs with special programs for Chicago and Illinois.

UP TO 90% LTC

12 Month Term – Monthly Interest Only Payments

Maximum Loan Amount: 70% of ARV

600 Credit Score (80% LTC – no exits) 

630 Credit Score (85% LTC 0-1 exits 0r 90% w/ 2+ exits)

680 Credit Score (90% no experience)

First Time Investors can Qualify for up to 90% LTC

90% PURCHASE / 100% REHAB

12 Month Term – Monthly Interest Only Payments

Maximum Loan Amount is 70% of ARV

Minimum 600 Credit Score

Minimum 5 Completed Flips or units owned.

Lowest Down Payment with 600 Credit Score

Better Rates and Terms for Better Credit and More Experience

100% PURCHASE + 100% REHAB +

LENDER CLOSING COSTS  

9 Month Term

Maximum Loan is 70% of ARV

Minimum Credit Score is 680

Minimum 2 exits

Cash Reserves 6 to 12 monthly Payments

No Down Payment, No Out of Pocket for Rehab, and even Lender Closing Closing can be included in the loan. Can Be true 100% financing and no funds out of pocket other than application deposit.

NO DOC FIX AND FLIP PROGRAM

6, 9, or 12 Month Term

Maximum Loan is 70% of ARV

Minimum Credit Score is 640

Exits 0 – 1 = 80% LTC

Exits 2 – 3 = 85% LTC

Exits 4+ = 90% LTC

No Monthly Interest Payments

No Income / No Assets / No Reserves

Only documents needed to close are appraisal, title, proof of experience and credit report.

REHAB FIX AND FLIP CREDIT LINES

CREDIT LINE #1

620 Credit Score

10 Times Liquid Assets

Lowest Rates

CREDIT LINE #2

660 Credit Score

10+ Exits

$5,000,000 Credit Facility

Quickest Close and Largest Credit Facility

These are not all of the Illinois Rehab Lending Programs we offer. In addition to Chicago and Illinois, we lend nationwide. Not all programs are available in every state. We work with each investor to offer the best program to meet their rehab lending needs. There are many factors we consider but the most important are location of the property, after rehab value, loan to value or loan to cost, borrowers experience, borrowers credit, borrowers assets, and how quickly loan needs to close. Of course from the borrowers perspective the cost to finance the project (including the interest rate, points, fees and term) are also very important.

For questions on these Illinois Rehab Lending (fix and flip) Programs as well as other residential or commercial fix & flip, long term rental or blanket financing products

email louisj@fbcfunding.com

or call 888-407-6953