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FIX AND FLIP (RESIDENTIAL AND COMMERCIAL)

What is a Fix and Flip?

Fix and flips are properties that are purchased by an investor (cometimes a general contractor) which the borrower pays a set

Program Details

The house reseller program is where you can obtain financing for rehabilitation loans for single or multi-family housing. These are tailored for the real estate investor who wants to make repairs before selling the property.

Using the property as collateral, funds are available for short term residential renovation projects that most traditional banks and credit unions will not approve. Authorized monies will be held in escrow and released in draws, as your contractors’ complete renovations.

You can be approved with a FICO score as low as 660. This program is for non-owner occupied properties only. Loans amounts are available from $100,000 and up. You can be approved for an after-repair loan-to-value of up to 90%, and 100% of the project cost. Usually, loan terms are for up to 12-18 months.

Loan Amounts

$100,000 (total project) and up

How Hard to Get?

MODERATE

How Fast?

Required to Qualify

Program Dependent

Type of Program

FIX AND FLIP (RESIDENTIAL AND COMMERCIAL)

14-28 days

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