Short-term financing to buy and renovate properties from single family up to 10 units.
– Suited for experienced investors that want to save on rates by bringing 10-20% down.
– Great for new investors and those heavy rehabs
Property
- Single-family, townhomes, warrantable condos, 2-4 unit, and 5-10 unit
- Loans restricted to investment properties; cannot be owner-occupied
- Rural properties not allowed
Loan Features*
- 6, 12 or 18-month term
- No premayment penalty
- Soft credit pull to qualify you
- $100,000 to $10 million loan amount
- Up to 90% loan to cost; 100% financing of renovation
- No interest on undrawn funds
Borrower
- 660 minimum FICO; no recent foreclosures or bankruptcies
- Entities only; a personal guarantee is usually required
- Foreign nationals allowed at reduced LTV
- Pricing based on borrower experience
- No employment or income verification
- First time flippers considered
Draws and Closing
- Close in as little as 8 days
- Materials, labor, demolition, and customary soft costs reimbursable
- Virtual inspection
- 1-3 business days from inspection to draw funding
*This is not an offer to extend credit. Loan terms, interest rate, origination points, and fees are based on loan to value, rental cash flow, credit history, and other factors. Additional criteria may apply, and all details are subject to change without notice.