Acquisition & renovation loans

Whether you’re planning a “fix and flip” or buying a distressed property that you plan to hold as a rental after completing renovations, this product will meet your needs. These loans can be used on properties of all sizes – 1-4 family as well as multi-family buildings.

terms

  • Rates as low as 9%
  • Up to 90% of Purchase Price
  • Up to 100% of Renovation Cost
  • Loan Maximum = 70% ARV
  • Loan sizes from 50k – 2.5m
  • One Year Loan – Extensions Available
  • Interest only payments due monthly
  • No prepayment penalty
  • No interest due on unused renovation funds

process

  • You provide a contract or proof of ownership
  • You provide scope of work and budget
  • We order an ARV Appraisal
  • We underwrite within 48 hours
  • We close as soon as you’re ready

requirements

  • Loans to an LLC or other corporate entity
  • New investor eligibility made on   a case-by-case basis
  • Minimum Credit Score of 620
  • Experience (examples below):
      • Completed at least one flip
      • Own at least one rental
      • Licensed Contractor
      • Realtor/Appraiser