No Appraisal Fix and Flip Loan
No Appraisal Fix and Flip Loan Program Advantages
FBC Funding Offers a No Appraisal Fix and Flip Loan Program for real estate investors looking to close fast on their investment properties. Here are a few advantages to the No Appraisal Fix and Flip Loan.
Benefits of No Appraisal Fix and Flip Loan Program:
- Speed of Approval: Skips the time-consuming appraisal process, allowing for faster loan approvals, quicker closings and better projects.
- Opportunity Seizure: Enables investors to act quickly in competitive markets, securing properties before others. This happens when you can tell the seller you will be ready to close in 10 days.
- Increased Flexibility: Adapts to a variety of investment projects, from minor and substantial renovations .
- Higher Leverage: FBC Funding will fund up to 85% of the purchase price and 100% of the renovations under the No Appraisal fix and flip loan program.
- Suitable for Experienced Investors: Ideal for those who can make quick, informed decisions in a fast-moving market.
- Potential for Faster ROI: Quick renovations and flips can lead to a quicker return on investment and if you choose to BRRRR you can quickly build a portfolio as it does not take as long to close deals.
- Market Edge: Provides a competitive advantage in a fast-paced real estate market. You compete with cash investors and thereby can save you money or win deals you normally would not if it takes longer to close.
Remember, while these advantages are compelling, they often come with higher interest rates and fees as compared to other programs where an appraisal is required due to the increased risk and convenience. That said the benefits and advantages of the No Appraisal Fix and Flip Loan Program can outweigh those programs where the borrower needs an appraisal which takes longer to close.
Requirements of No Appraisal Fix and Flip Loan Program:
- Minimum Credit Score: 660 – lower by exception
- Experience: No Minimum Experience. Credit Score and Experience determines the LTV and Rate
- Reserves: Closing costs + 6 months of payments + 20% of Budget Amount (after closing will you have funds to make payments and get the project started)
The No Appraisal Fix and Flip Loan Program is available nationwide except North Dakota, South Dakota, New York, Minnesota, Nevada, Chicago MSA, Detroit MSA, Inner City New Jersey, Inner City Baltimore.
For more information
call 888-848-3114
email louisj@fbcfunding.com
click here to schedule free loan consultation.
