HGTV has made buying homes to fix and flip super popular.
But unless you have oodles of cash or you’re on the TV show, where do you get the money to fund all of this? There are lenders out there that provide Fix and Flip financing for investment properties. If you’re looking to reno your own home, that’s something totally different.
By using money from non QM lenders and private investors, they aren’t bound by rigid banking guidelines and can offer you some of the most flexible loan terms in the industry depending on the deal, your investor profile, background, and experience.
Other lenders take a one size fits all approach to making loans, while we carefully evaluate each and every deal and offer competitive terms when the deal makes sense. From Residential Fix and Flip, Rental, Line of Credit, Refinance or construction, it’s our job to get you the money to do the deal.
Terms will vary but if you have a good deal and a decent landlord background we can help your deal closed. Let’s be clear, if you are new to fix and flip rates and terms are higher and these are short term deals with high rates. It is not meant to fix and hold.
Here are a few things that you should know about our Fix and Flip Loans:
If your deal is good enough, the lender will cover up to 90% of the purchase price, rehab, and closing costs, points & interest.
The max loan amount is based on the after-repair value, not the current value or purchase price. If the numbers line up, the lender will fund it.
They lend up to 75% of the ARV. The lender will fund everything but earnest money as long as it fits within 75% of the ARV.
Here is an overview of some of the types of Fix and Flip or Hard Money deals that can be done:
- 75% Purchase, 100% Rehab
- Up to 75% ARV
- Nationwide Rental Loans
- Investor Portfolio Loan
- Investor Line of Credit
- Purchase or Refinance (Blanket Loans)
- Bridge Loans
- 1-4 Units Non-Owner
- Stated Income and No Doc
- No Appraisal Loans
We wish we could approve all deals, but not all deals are approved.
Call us today at 702-326-7866 to talk about your deal!