Single Family, Townhouse, Condo
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.
Additional funds can be built into the loan to reimburse rehab costs.
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 Interest Rate:
1% interest-only payments per month (average project/flip duration is 4 months)
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.
No prepayment penalties.
Repeat Client Bonus:
Repeat clients with on-time payments receive reduced fees on future loans.