Fix and Flip
Fix & Flip / Buy & Hold
The terms are simple and straight forward; this short list of items is all you need to fund your loan!
- No 4506 Stated income 80% LTV for metropolitan areas in California.
- No minimum FICO score required (0.5 add to rate if less than 640 FICO).
- No limit of number of real estate properties owned.
- SFR, 1-4 Units & 5+ Apartment Buildings.
- Down payment can be 100% gift.
- Purchase, Refinance Cash-Out & Rehab to 90% CLTV.
- Business funds are eligible for asset qualification & down payment.
- Loans made to individuals, businesses, trusts & foreign nationals.
- Both W2 and self-employed borrowers are eligible.
- Correspondent Lender’s license to lend in CA, AZ, CO, HI, ID, FL, OR, TX & WA.
- (1% add to rate for loans outside of CA) – All programs and rates are subject to change at any time.
| Lending Criteria | 1 YEAR | 2 YEARS | 4 YEARS |
| Interest Rate | 9.5% | 8.99% | 8.50% |
| LTV Max | 75% | 75% | 75% |
| Lender Points | 2 | 2 | 2 |
| Fico Requirements | None | None | 640 |
| Property Types | SFR/1-4/5+/Condos | SFR/1-4/5+/Condos | SFR/1-4/5+/Condos |
| Lender Fee | $1,495 | $1,495 | $1,495 |
| Interest Required | 4 Months | 12 Months | 24 Months |
| Term Extension Fee | 1 Point / 6 Months | 1 Point / 6 Months | 1 Point / 6 Months |
| Loan Amounts | $100,000 – $5 mil | $100,000 – $5 mil | $100,000 – $5 mil |
| Closing Time Frame | 5 – 10 Days | 5 – 10 Days | 5 – 10 Days |
| Collateral | Cross-Collateralization | Cross-Collateralization | Cross-Collateralization |
| Broker Origination | 1-2 point / TBD | 1-2 point / TBD | 1-2 point / TBD |
- 80% LTV available on properties up to $1 Million value in major metropolitan areas of California.
- Properties outside of these parameters will be subject to a 75% LTV Max.
- Lender Points subject to change for 1-year term products.
- If FICO < 640 + 50 bps to rate.
- Lender fee includes valuation for one property.
- No formal appraisal required for property values under $2 Million.
- Lender Fee Subject to change for multiple/cross-collateralized properties and 5+ Unit Properties.
- 12-month bridge loan: +.50 point to waive pre-payment penalty.
- Closing time frame estimated from receipt of full documentation package