FIX & FLIP

LOANS

Construction Worker
Finalizing Construction Plans
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1-Year, Plus Extension Options

Money

Interest Paid Only on Drawn Funds

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Inspections Within 24 Hours and Funds Wired Same Day

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$50,000 to $5 Million

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Borrowers. Special Purpose Entity Structure

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Brokers Welcome and Protected

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New Jersey, New York, Pennsylvania and Tennessee with other geographic locations considered

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Prepayment Accepted Anytime

Collateral Types

  • Single Family Residential

  • Multi-Unit For Sale Residential Projects

  • New Construction and Fix & Flip

  • Multifamily

  • Commercial (Industrial, Office, Net Leased Retail)

  • Development Land

 

Proceeds Uses

  • Acquisition Funding

  • Construction Improvements

  • Redevelopment

  • Cash Out Refinance

  • Refinancing

  • Repositioning

  • Bridge Financing

  • Will Consider Creative Opportunities

First Time Borrower Parameters

  • Loan to Purchase: Up to 80%

  • Construction Financing: Up to 100%

  • Loan to After Repair Value: Up to 65%

  • Interest Rate: As Low As 10%

  • Origination Fee: 2% – 4%

  • Closing Time: 1 Week

Repeat Borrower Parameters

  • Loan to Purchase: Up to 90%

  • Construction Financing: Up to 100%

  • Loan to After Repair Value: Up to 65%

  • Interest Rate: As Low As 9%

  • Origination Fee: 1% – 4%

  • Closing Time: 1 Week

ELITE PROGRAM

 

Parameters

 

  • Loan to Purchase: 90%

  • Construction Financing: 100%

  • Loan to After Repair Value: 70%

  • Origination Fee: 1% – 4%

  • Interest Rate: As Low As 8.99%

  • Elite Plus: Well qualified borrowers may get 5% of the purchase price advanced as a construction draw at closing.

 

Borrower Requirements

  • Credit Score: Above 650*

  • Loan to Cost (LTC): Max of 94%*

  • Completion of two projects in the last year or five in the last two years

  • Property Types: 1-4 family houses, townhomes and condominiums

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*For credit scores below 650, multiple compensating factors exist”

INQUIRIES BASED ON YOUR PROJECT

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