We offer the best fix and flip programs as well as the biggest variety. Through trial and error we have been able to identify the best fix and loan programs and best lenders. For instance lately I have been using a lender who funds based on ARV (After Repair Value)

 

First Loan Program Example Fix and Flip/Ground Up Construction Loan Program.
First Loan Program Example Fix and Flip/Ground Up Construction Loan Program.

Looking for a Fix and Flip or a Purchase and Hold loan?

We fund in all States except Vermont, Minnesota, South Dakota, Oregon, Nevada, Utah and Arizona.

Poor or Bad credit no problem!

Competitive Rates!

Our Loans are for non-owner occupied Real Estate Investment Projects such as Fix and Flips from 3 to 9 months or Purchase and Holds from 3 to 36 months

If you have a fico score of 680 or below we can offer 55% of the After Repair Value.

New!!!!  If you have a fico above 680 we can offer 70% of the After Repair Value

If your Purchase and Rehab budget fits under 55% of your After Repair Value we will fund 100% of your purchase and rehab!

Example:

Purchase Price?  100,000

Renovation amount? 50,000

After Repair Value?  300,000

600 fico.

Total loan requested?   $150,000

ARV 300,000 times .55 =  $165,000

The lender will loan a max of $165,000    9 month loan   12

Up Front fees include:

$197 App fee for single Guarantor plus $97 for each additional Guarantor

Appraisal fees of $450 for residential, $4K to $5K for commercial appraisals

For Fix and Flips only a $360 Construction Inspection Specialist baseline inspection

If your rehab and purchase together exceed 55% then you will bring some rehab funds to close that will go into escrow then back to you in 3 Draws (20% First Draw, You Decide Draw #2 and #3)

Here is what we need:

1)      Photo ID

2)      Social Security Card

3)    Quick Score Property Report (CDNA Report) – use the orange link below

4)      Appraisal – we will order this when you are ready

5)      Contractors bid for rehab needed – Only for Fix and Flips

6)      Most recent three months’ worth of bank statements

7)      Federal EIN letter from IRS

8)      Articles of Incorporation for your LLC

9)      Purchase and sale agreement

10)   Preliminary title report – I just need contact information for the company you’d like to use

11)   Hazard insurance binder – I just need contact information for the company you’d like to use

 

Are you looking for ground up construction or have started a project and need

money to finish?

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Second Fix and Flip/Buy and Hold/ Bridge Loan Lender
Second Fix and Flip/Buy and Hold/ Bridge Loan Lender

 

Second Popular Fix and Flip Lender.

Our fix and flip loans, available for both purchase and refinance, get you the rehab cash you need in a matter of weeks, not months. Our real estate loans with LTVs up to 75% allow the modern investor to prosper.

12 Month Premiere Flip Loan

The 12-MOnth I/O

This interest-only loan is your short-term solution to rehab and resell your Properties. 

Loan Purpose…………………………..Flip Only

Term………………………………………..12 months

Amortization……………………………..interest only

Tier 1 rate,Points……………………..11.99%, 4 points

Tier 2 Rate, Points………………….12.99%, 5 points

Tier 1 Max LTV…….Purchase-75%,Refi-70%(c1-c3),65%(C4 @ C5 property)

Tier 2 max…………..Purchase – 75%, Refi-65% (c1-c5 property)

Closing Fee…………………………..$995

Min Purchase Price……………….$50k

Min Refi Property value ………….$50k

Property condition ………………….c1-c5

Prepayment Penalty………………..No

10 Due-in-3

For the ultimate in flexibility, check out our 10 Due-in-3 no doc loan. Ready for use as a flip or rental, this loan is great for investors who are looking for options with their property.

Loan Purpose…………………………..Flip or rent

Term………………………………………..36 months

Amortization……………………………..10 years

Tier 1 rate,Points……………………..12.99%, 5 Pts

Tier 2 Rate, Points……………………13.99%,6 pts

Tier 1 Max LTV…….Purchase-75%,Refi-70%(c1-c3),65%(C4 @ C5 property)

Tier 2 max…………..Purchase – 75%, Refi-65% (c1-c5 property)

Closing Fee…………………………..$995

Min Purchase Price……………….$50k

Min Refi Property value ………….$50k

Property condition ………………….c1-c5

Prepayment Penalty………………..No

I have used this lender several times in the past. If you are interested in one of the two programs I listed above please call or email with questions. The only draw back with this particular loan program is the fact that you would have to use your own money for renovation. The plus side is this lender will fund the smaller size loans. Loans from 37,000 to 500,000.  There are really not a lot of credible programs that offer both acquisition and renovation money. Many lenders claim to offer 80ltv for acquisition and renovation or 80ltv for acquisition and 100ltv for renovation. Not for investors who have not done this 20 times in the past with an already established track record. Normally if a lender will offer acquisition and renovation they will offer 65ltv maybe a little higher depending on size of deal and experience. The loan program above is great if you need money quick and can use your own money for renovation. If you want purchase or refinance multiple properties under one mortgage it would also be possible with these two loan programs.

If this loan is not a fit and you and you do have a lot of experience buying and flipping. Perhaps I can place you with another loan product. We also offer construction and renovation money for commercial and residential properties.

Third Fix and Flip Loan Program
Third Fix and Flip Loan Program

Fix and Fix and Flip Program 1-4 unit Up to 90ltv Acquisition 90-100% REHAB

12 Month – Interest Only   FIX and Flip Loan Program

Up to 90% of purchase price with rehab up

Up to 90% of purchase price with rehab up to 75% of ARV

90-100% rehab

7-14% range (Normally 8-12%)

points 3 to 3.5 total  $299 3rd party fees.  No other fees

I have see these terms advertised a few times and finally I figured out who the lender is today. If you are looking for funding in the following states I can assist.

Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon,Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia

Property Type: SFR’s, 2-4 units, condos,town homes, PUBS

Loan Amount: Up to 1,000,000

Transaction type (Purchase or Refinance)

Interest rates as low as 7% (varies on L.T.V & experience)

Origination 1.5 (Minimum 2000)  No junk fees

Loan to Value: Up to 90% of Purchase price. (With rehab: Up to 75% of After repair value

Rehab Hold back: Up to 100% of purchase price (Other factors depend upon scope of construction)

Closing Process: 15 business days from completed app,even quicker for repeat borrowers

Loan Term: 12 Months

Rate Type: Fixed Rate, Interest Only

Prepayment penalty: None

Please email your scenario?  mark@commercialmortgageunlimited.com

Mark Fulop 201-925-3470  www.commercialmortgageunlimited.com

 

Current Mixed Use Ground Up Construction Deal closing soon in Nutley NJ. Client was strong enough to qualify for a bank loan.
Current Mixed Use Ground Up Construction Deal closing soon in Nutley NJ. Client was strong enough to qualify for a bank loan.

 

Here is another lender I use for Fix and Flip

      On residential properties, we are currently only offering a 12-month bridge loan for purchases and a 24 month term for refinances – both are interest only. It is mostly being used by fix and flip investors, but can also be used for cash-out on rental properties. We can do blanket loans, but because we offer such a short term, I don’t think the second client would be interested.
Here is a summary of what we can offer on residential properties:
-We lend 80% of purchase price and 100% of the renovation budget, up to 70% of the after-repair value
-Single family homes, condos, town homes, multi-unit up to 10 units
-Individual properties as well as blanket loans on portfolios
-Cash-out refinance up to 65% LTV
-Interest rates between 8-12%
-2 past flips/rental properties required
-Minimum 620 FICO for purchase, 680 for refinance
-Can roll in closing costs
-Close in 7-10 days
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New program offers financing for up to 85% of the purchase price + up to 100% of the renovation costs, not to exceed 75% of the after repair value. Prior real estate investing experience is required to qualify for this product.

  • BASIC LOAN CRITERIA
  • Term12 Months
  • Loan Amount$75k to $2.5M+
  • LTV
    Up to 85% of the purchase price +
    up to 100% of renovation costs;
    Not to exceed 75% of the ARV
  • Property TypesNon-owner occupied 1-4 family residential
  • FICO 600 minimum

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Residential Fix and Flip

New  flagship loan program, provides short-term funding for the acquisition of non-owner occupied 1-4 family residential properties. Cross-collateralize options are available for this program.

  • BASIC LOAN CRITERIA
  • Term 12 Months
  • Loan Amount $50k to $2.5M+
  • LTV Up to 85% of the purchase price;
    Up to 65% Refinance;
    Up to 50% Cash-Out
  • Property Types Non-owner occupied 1-4 family residential
  • FICO No set minimum

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RESIDENTIAL FIX & LEASE

Bridge Financing for Rental Properties

C.M.U offers longer-term bridge financing for real estate investors who are looking to buy and hold non-owner occupied residential properties for rental income. A six-month extension is available for this product (a 2% fee will apply).

  • BASIC LOAN CRITERIA
  • Term18 Months
  • Loan Amount$50k to $2.5M+
  • LTV
    Up to 85% of the Purchase Price;
    Up to 65% Refinance;
    Up to 50% Cash-Out
  • Property TypesNon-owner occupied 1-4 family residential
  • FICO  No set minimum

………………………

Buy to Rent Loan

Popular loan program offers a 24-month term, with a 12-month extension available, ensuring that our customers have rental property financing that goes the distance. (An extension fee applies)

  • BASIC LOAN CRITERIA
  • Term24 Months (12-Month Extension Available)
  • Loan Amount$50k to $2.5M+
  • LTV
    Purchase – Lesser of up to 75% of the As-Is Value or Up to 75% Loan-to-Cost;
    Refinance – Up to 70% of the As-Is Value
    Cash-Out – Up to 65% of the As-Is Value
  • Property Types1-4 Family & Multi-Family Non-Owner Occupied Real Estate; Condos; Townhomes; 5+ Apartments; Mixed-Use Properties
  • FICO660 Minimum
  • Property Value”As-Is” Appraised Value Must Be Greater Than $75k
  • Rent Coverage Ratio 1.25

……………………………………

 Financing: 1-4 Unit Residential

Cash out refinance 75% LTV – No seasoning.
• Did another lender offer you 60-65% LTV? Immediately pull more cash out for future investments.

Rehab your investment property
• Bring no cash to the closing table.
• Payoff your existing mortgage and receive rehab funds
• 75% ARV

Purchases, Fix & Flips, Bridge Loans
• 75% of purchase, 100% of repairs.
• Cross collateralize to receive 90% of purchase.

General Guidelines:
• No DTI Restrictions, Limited to No Income Verification
• $75,000-$2,000,000+ Loan Amounts
• 6, 12, & 24 Month Financing Terms – Interest Only
• Funding within 7-10 days of appraisal!
• Points starting at 2, interest rate starting at 9%
• States: AZ, CA, CO, CT, DC, FL, GA, IL, LA, MD, MA, MI, NV, NJ, NY, OH, PA, TX, VA, WA, WY

Do you want me to quote your fix and flip or ground up construction deal?

Please just email me the following questions answered if you want a quick quote?

Name

Phone

Email

Address

Name of LLC

Purchase Price

Renovation Amount?

After Repair Value?

Fico score?

Summary of deal?

Please email me the scenario so I can provide a quote?   mark@commercialmortgageunlimited.com