What LTV will you lend on a Flip?
For flip financing, we'll lend up to 70% of the After Repair Value (ARV). That means you could potentially borrower 100% of the purchase price and renovation funds needed to stabilize the property and sell. No complicated formulas.
What LTV will you lend on a Renovate 2 Rent Project?
Generally, we'll lend up to 75% of the After Repair Value (ARV). This will help you maximize the permanent financing on your exit strategy. That means you could potentially cover 100% of the purchase price and 100% of the renovation budget.
Do you have a minimum credit score requirement?
In the flipping world, experience IS the new credit score. We do like to have a credit report on file- and will review credit as part of our process. But we are a common sense lender. If you and the deal make sense- we'll consider it. (For permanent financing, the credit score will play a more prominent role in the programs you will be eligible for.)
What are typical payments for your loans?
With our deferred payment option you can save your cash flow, increase the number of projects you can take on and improve your profitability. All interest is calculated on a "simple-interest" basis and you only pay for the number of days the loans is outstanding at the time of selling or refinancing as your exit. WE CAN DEFER POINTS AS WELL FOR REPEAT CLIENTS!