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