Residential Short Term
Our Fix and Flip program provides short-term capital to investors looking to purchase and renovate residential properties (SFRs, 2-4 unit properties, condos, and PUDs).
Prior experience in similar fix and flip projects is preferred but new borrowers with strong credit are accepted case-by-case. This program is also available for multifamily and mixed use properties up to 50 units.
- Loan Amount: $200,000 - $10,000,000+
- Loan-to-Cost: Up to 90%
- Loan-to-Value (After-Repair Value): Up to 75%
- Renovation Financing: 100%
- Loan Rate: Starting at 9.50%
- Rate Type: Fixed rate, interest only
- Interest Payments: Monthly, reserves can be built in
- Typical Origination Fee: 2%
- Property Type: SFR, 2-4 Units, Condos, PUDs, Multifamily, Mixed-Use
- Loan Type: Purchase or refinance
- Loan Term: 12-24 months
- Closing Timeframe: Within 10 days from full file receipt
- Extension Term: Up to 12 months
- Borrower: Business entity only
- Credit Score: At least 640
- Geography: Nationwide excluding ND, NV, SD, VT