Fix and Flips / Credit Lines

Fix & Flips, Credit Lines from $500,000 to $10,000,000

Fix & Flips

Loan Amounts: $100,000 to $1,000,000

Property Type:          1 to 4 Family

Ineligible Locations: Nevada, Oregon, Utah, Vermont

Loan Purpose:          Purchase & Rehab

Borrower Types:       Single Purpose Entities (LLC of Corp.) (No Trusts)

Rates:                       Highly competitive

Loan Terms:             Up to 12 months

Loan to Value:          Up to 85% LTC           Up to 65% ARV

Fees:                         4 to 6 Points plus 3rd party fees and process and underwriting fees.

Credit:                       Minimum Credit Score 650

Revolving line of credit

Loan Amounts:      $500,000 to $10,000,000

Property Type:       1 to 4 Family

Eligible Locations: Available in most States

Loan Purpose:       Purchase / Purchase & Rehab

Borrower Types:    Single Purpose Entities (e.g. LLC)

Rates:                    9.95

Loan Terms:          1 Year to use, 1 Year to pay back

Loan to Value:       Up to 80% LTC                    Up to 70% LTV

Fees:                      3 Points plus 3rd party fees and process and underwriting fees.

Review process, We would need the following items.

Application completely filled out.
2 years of complete tax returns. (Business and Personal, unless newly formed entity then just personal.)
Most recent 3 months bank statements (Need to see about 30% of the total LOC requested in liquid assets.)
Completed attached sample flip form only if you have done flips in the past (acquisition/disposition history with property address, date of purchase, date of sale, closing cost, and any other properties you currently have on the market.)
Corporation docs if already established (Articles on Inc., signed operating agreement.)
Brief business bio or resume (For the grantor.)