100% Financing Loans are evualted on a property by propery basis.
100% Financing is 100 of Purchase Price and 100% of Rehab Costs up to 70% of ARV. Closing Cost may be rolled into the loan within the 70% ARV Cap.
Regular Fix And Flip Loans
SHORT TERM, FIX-AND-FLIP LOANS
|THE NUMBERS||TIER A||TIER B||TIER C|
|% Of Purchase||90||90||90|
|% Of Rehab||100||100||90|
|% Of Max ARV||75||70||65|
|% Of Max LTC||90||90||90|
|Experience||2 Deals/2 Yrs||2 Deals/2 Yrs||1st Timers Okay|
|Credit Score||720+||660–719||No Minimum|
The first part of every successful fix and flip is finding the right real estate property. That’s why we’ve created this easy, 5-point guide to help you find the “sweet spot” deal, which can give you the best chance at making money in real estate, while safeguarding your investment.
Requirements #1 and # 2 are mandatory for all residential Fix and Flip loans. Property with more than 4 units must be financed as commercial loans.
Requirements #3, #4, and #5 are evaluated on a property-by-property basis. Credit scores of 680 and higher and higher downpayments can override Requirements #3, #4, and #5. These three requirements also vary by lenders.
- Property Type: 1-4 units—NON-OWNER OCCUPIED
- Sale Price: Ultimate Loan Amount Does Not Exceed FHA Maximum
- Size of House: 2800 Sq Ft Maximum
- Property Features: 5 Bedroom/ 3 Bathroom Maximum
- Size Of Property: 1/2 Acre Maximum