NEW FIX AND FLIP LENDER ADDED TO www.MobileBusinessLoan.com NETWORK!!!

Mobilebusinessloan.com has added a new fix and flip lender to our trusted network of lenders!!

Program guidelines/parameters:

 

The rates are based on the risk; 10% to 12% I/O for a 12-month term

NO prepayment; NO Exit fee

Origination at closing 3-4% typical but could go to 7% if the deal is at the very top of the risk we are willing to take

We do not have any additional fees (standard title company, closing, recording fees for county of property location apply)

Appraisal will be paid by sponsor at the door during inspection; we do not collect for 3rd party on this program.

Loan amounts $100,000 up to $2MM

NO first-time flippers.

Must take title in LLC or Corporation

Investor must own their current residence for 1 year or more

Credit score wanted is a 650 FICO or better – lower on case-by-case basis

Up to 80% Loan-to-Cost (purchase price + rehab)

70% of ARV max

Broker can add points at closing as agreed with borrower

Prohibited states: AK, DE, ID, MI, MN, ND, SD, UT, VT

 

We look forward to working with you 

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