LOAN PROGRAM

Summary Of Terms

Loan Purpose:
Investment (Rehab & Flip)

Property Types:
Single Family, Townhouse, Condo

Acquisition Financing:
Up to 70% of the appraised value toward the acquisition cost of the property in Virginia (65% for Maryland).Cross collateral allowed to be used in lieu of making a down payment.

Optional Construction:
Reimbursement Reserve/Draws:
Additional funds can be built into the loan to reimburse rehab costs.

Qualification Requirement:
Loan approval is primarily based on project analysis, collateral value and investment experience. No income qualification. No minimum credit score but 650+ preferred and 700+ rewarded.

Loan Terms:
6, 12 or 24-month loan terms

Loan Interest Rate:
1% interest-only payments per month (average project/flip duration is 4 months)

Origination Fee:
1% - 5% of the loan amount (min. $3,000) 3rd Party Legal Fee: Fee may vary depending on loan structure. Final cost determined prior to loan commitment.

Loan Repayment:
No prepayment penalties.

Repeat Client Bonus:
Repeat clients with on-time payments receive reduced fees on future loans.

Contact

Call Us

1-800-877-0883

 

Ready for a Loan?