ALL Terms are based on the numbers of Properties you Purchased, Sold or made into Rentals in the past 24 months

 

  1. FIX AND FLIP:

ZERO PROPERTIES IN THE PAST 24 MONTHS:

  • Scores above 660:
    • 10% Down of Purchase Price depending on Property
    • 10% Down and 90% Finances Rehab Cost depending on Property
  •  Scores under 659
    • 15% Down of Purchase Price depending on Property
    • 15% Down and 90% Finances Rehab Cost depending on Property

ONE PROPERTY IN THE PAST 24 MONTHS:

  • Scores above 660:
    • 10% Down of Purchase Price depending on Property
    • 100% Financing of Rehab Cost depending on Property

TERMS FOR ALL LOANS:

  • 10% Down to 15% Down and 90% to 100% Rehab cost financed.
  • 65% to 75% of After Repair Value (ARV)
  • First Fix and Flip will be 8% to 12% and 2 to 4 points for 12 months interest only
  • Must settle in an Entity name.
  • After settlement 2 to 3 months in reserves.
  • MIN LOAN: $75,000.00
  • No Tax Liens more than $10,000
  • No BK or Foreclosure in the past 36 months 

Example of a Purchase Fix and Flip below:

Purchase price $50,000.00

Balance Financed $45,000.00 (10% down of $50,000 purchase price = $5000)

Rehab cost Financed $35,000.00 (10% down of $35,000 Rehab price = $3500)

Loan = $45,000 + $31,500 = $76,500

After repair value = $120,000 x 65% = $78,000 (The Loan amount must be below 65% of the After-Repair Value (ARV). If it is your first or you have completed one fix and flip in the past 24 months)

Total Loan is $76,500.00 x 12% = $9180.00 / 12 months = $765.00 per month interest only payment: NO PREPAYMENT PENALTY

  1. Fix and Rent: 
  • Purchase a property that you Rehab and rent after repairs are complete.
  • 65% to 75% of After Repair Value (ARV)
  • Fix and Rent will be 8% to 12% and 2 to 4 points for 12 months interest only
  • After repairs and 6 months, convert to a Rent and hold using current value for cash out or rate and term.
  • After repairs are complete the loan can be converted to a Rental Loan with rates between 5.99% to 7.99% (Depending on credit and market rate at the time of conversion.)
  1. Buying Rental Properties 

Buying in a Business Name: 

  • Min 640 score
  • 25% Down Payment
  • No Tax Liens more than $10,000
  • No BK or Foreclosure in the past 36 months
  • Last Year Tax return
  • Lease agreement
  • No Income / No Employment Settled in Business Name
  • 99% to 8.99% and 2 points to 4 points

Buying in your Personal Name

  • Min score 660
  • 15% to 25% Down
  • Full Doc Loan (Paychecks, Tax returns, W-2, Verification of employment, Bank Statements, Credit report)
  • No BK or Foreclosure in the past 36 months
  • Lease agreement
  • 99% to 8.99% and 1 point to 2 points

4. Credit Line

We will lend you 5 times your liquid assets and 2 times your net worth for a credit line to buy and hold or fix and flip.

  • Min score 660
  • Full Doc Loan (Tax returns, Bank Statements)
  • No BK or Foreclosure in the past 36 months
  • 99% to 8.99% and 1 points to 2 points

Example:

Asset $200,000 (can be personal checking / savings, retirement, stocks, 401k)  = $1,000,000.00

Net worth of $300,000.00

Up to 20 units

Rates 7% to 8% @ 2 points

After Approval, you get an Appraisal and Title to close.

You can draw on it as needed to purchase homes.

NEW: Blanket Loans for RENTALS 7 Doors 660 score Min of $700,000 Blanket Loan

*Rates and Price Variations: All FIGURES< RATE<TERMS ARE ESTIMATES. We reserve the right to vary prices and rates in the event of changes in rates or price rises made by wholesalers, Investor or Market conditions. If the cost of any service increases due to exchange rate fluctuations, price increases, tax changes or any other reason, you are required to pay any increase.  We are not liable in any way for Rates quoted at the time of quoting and rates may change prior to the settlemtn.  All rates are subject to change and can be withdrawn or varied without notice.