Fix n Flip Hard Money Private Money Bridge
Whether your FICO score is the lowest possible or you have a bankruptcy, asset based, solution based. I have a private money loan program for you in all 50 states. I also have a 100% purchase & 100% rehab loan program in certain states. Below you will find info on my programs.
Loan Product: Pro
✅ Up to 90% Purchase & 100% Rehab
✅ Allowed states: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
✅ No Minimum FICO
✅ New Investors welcome
✅ No experience required
✅ Minimum Loan amount $20,000+
✅ No seasoning 🧂of funds available
✅ Up to 90% LTV
✅ Up to 75% ARV
✅ Cash-out refinancing
✅ Up to 24-month terms, Interest Only
✅ Eligible for US Citizens, Non-Permanent Resident aliens, ITIN borrowers, and Foreign Nationals
✅ SFR, PUD, Condo, 1-4 Units allowed
✅ Condotels allowed
✅ Manufactured homes allowed
✅ Non warrantable condos allowed
✅ Multi unit properties allowed
✅ Mixed use allowed
✅ Derogatory: Bankruptcy, Foreclosure, Late payments, Collections, Charge offs, Bad Credit OK
✅ Rural allowed
✅ Illegal additions allowed
✅ Picture verification of rehab work done for draw request available (no physical inspection needed)
✅ 2 business day wire of rehab funds available
✅ Origination starting at 2.00%+
✅ No sourcing of funds available
✅ 2-3 business day closings available
✅ AVM/BPO Valuation available
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Loan Product: Pro Max
✅ 100% Purchase & 100% Rehab
✅ Allowed states: AL, AR, GA, IN, MO, NC, NM, OH, TN, TX - specific areas on all these states. More states to come.
✅ Minimum Total loan amount: $100K
✅ Minimum ARV $150K
✅ 6 month term (9 month term is available, 3 month optional extension, extension fees will apply)
✅ 100% LTC (no down payment)
✅ Up to 75% of ARV
✅ No experience required
✅ New Investors welcome
✅ Close in 25 business days
✅ Required reserves are 25% of the rehab budget (ex $135K x 25% = $33,750) but a minimum of $15,000.
✅ Funds do not need to be seasoned
✅ Is it non-dutch interest: This will be traditional Interest meaning the interest payment will be based on the entire loan amount and not as each draw adds more and more to the loan amount.
✅ Do Not get the HOI bound until a closing date has been confirmed for this product and title work is all done
✅ Floor plans & rehab budget must not change otherwise what is not agreed upon will come out of pocket
Loan Fees:
✅ Origination starting at 3.00%+ (depends on deal and location)
✅ Appraisal Fee: $500 on average (varies by market and turnaround time needed)
✅ Loan Documents: Starting at $350.00
✅ Loan Admin Fee: $650
✅ Credit Report Fee: $80 ($120 for Joint) ✅ Flood Certificate Fee: $15
✅ Monthly Servicing Fee: $15
✅ *Interest Rates starting at 10.99% interest-only* 10.99% interest is reserved for our Repeat Program for borrowers who have successfully paid off three deals with us and are in good standing.
Loan Terms:
✅ A mortgagee’s title policy is required.
✅ An insurance policy is required on all loans for the term of the loan.
✅ Up to 75% of the After Repaired Value in Rental properties (excluding points and fees), not to exceed 100% of cost *Proof of Refinance Required
✅ Up to 70% of the After Repaired Value on Flips (excluding points & fees), not to exceed 100% of cost.
✅ (if the home is going to be used as a rental then the capped ARV goes up to 75% - in order for this to happen i need to give you a pre approval when we submit the scenario to processing (before underwriting gets involved) that the home once fixed up will be able to get a rental loan and that the exit will be a rental, and in case you change your mind once the home is fixed or the exit strategy changes to a flip/sale then nothing changes and nothing happens, its as if the exit strategy was always a rental exit
✅ if the home is going to be a flip, and that's stated since the beginning then its only up to 70% of the ARV
Borrower Criteria:
✅ Minimum Median Credit Score of 600
✅ Minimum of $15,000 or more in a Checking, Savings, IRA and/or 401(k) account
✅ No Recent Bankruptcy or Foreclosures (subject to review by underwriting)
Property Criteria:
✅ First Liens Only
✅ Single-family, 2-4 unit, townhomes (no condominiums or manufactured homes).
✅ Our loans are made on the After-Repaired Value (ARV)
✅ Appraisals must be ordered by underwriting and performed by a third-party appraiser.
✅ Properties should be located in or around suburban and/or major metropolitan areas: Such as Dallas, Fort Worth, Houston, Austin, San Antonio, El Paso, St. Louis, Kansas City, Indianapolis, Charlotte, Greensboro/Winston-Salem, Raleigh/Durham, Nashville, Chattanooga, Knoxville, Huntsville, Birmingham, etc
✅ Underwriting reserves the right to adjust advance rate requirements as deemed necessary.
Appraisals / Insurance:
✅ All appraisals will be based on After-Repaired Value (ARV)
✅ Appraisals will only be ordered by underwriting
✅ Borrower MUST provide a minimum 6-month insurance policy to be paid in full at closing. Borrower's insurance agent should provide a certificate of insurance or evidence of insurance, including invoice, to our processing department prior to closing. ✅ Insurance premiums are to be paid in full at closing. NO EXCEPTIONS.
✅ Dwelling only coverage must include vacancy and vandalism riders. A builder's risk policy is preferred for rehabs over $20,000.
✅ If a borrower has a blanket policy, the insurance agent must provide proof of insurance showing the addition of the new property and showing proof of in-force blanket policy.
✅ Replacement cost coverage is required. ✅ The lender must be named as loss payee and additional insured.
✅ Order your insurance early! Delay in providing insurance coverage can delay the closing of your loan!
✅ We require the $1m PL policy whenever a project is over $100k in work needed.
✅ If this is a teardown, we would have a different set of terms. That would be new construction and it would involve a 10% down payment required.
✅ Extension fee is 1% of the total loan amount for 3 months.
✅ We can do a 9 month loan when the rehab budget exceeds $100k. If it is below that amount, it will be a 6-month loan. You do not need to get 12-monhts of insurance, 6-months should be plenty.
✅ You will get a summary of your hard credit pull. It will be mailed to the address you provided.
✅ The $15 flood cert fee is paid to a company that will certify that the property is or isn’t in a flood zone. If it is in a flood zone, we will require that you also get flood insurance.
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