Fix & Flip Loan
A Fix and Flip loan is a specialized financial product tailored for real estate investors who wish to purchase a property with the purpose of renovating it and subsequently selling it for a profit. These loans are typically offered by private lenders like Flipper Cash, and they are asset-based, primarily considering the property's value and its potential for generating income.
Who is it for?
A Fix and Flip loan is ideal for astute real estate investors seeking quick and flexible financing for projects with rapid turnaround. This type of loan enables investors to swiftly acquire their next property, expand their real estate ventures, and optimize their returns.
We encourage such investors to apply for pre-approval today. We can provide you with a Proof of Funds letter to enhance your next offer and give you a competitive edge in the market, allowing you to act swiftly compared to your peers.
| Terms | |
|---|---|
| Loan Amount | Up to 100% of Cost (Purchase + Renovation) or 70% of ARV. |
| Origination Fee (Points) | 0% to 5% of loan amount (payable at closing) |
| Interest Rate | 9.99% to 15.99% interest-only monthly payments |
| Pre-Payment Penalty | None after 90 days. 1% if prior to 90 days. |
| Term | 6-months (1% fee per 3-month extension) |
| Time to Fund | As little as 14 days |
| Income Verification | "No Income" options available. |
| Qualifications & Requirements |
|---|
| 580 + Credit Score. No Income options available |
| Liquid Reserves (cash, stocks, bonds, money market) must equal at least 4% of the loan amount. Seasoned for two months. |
| Two Years Tax Returns |
| Completed Loan Application |
| $575 Processing Fee |
| $60 Wire/Courier Fee |
| Personal Guarantee worth at least 30% of the loan amount. |
| Borrower must have Debt to Capital ratio less then 90% (As calculated by Total Debts/Total Asset Value) |