The amount you qualify for is 5x your actual liquidity (cash, free/clear real estate, stocks/bonds, etc....). Once approved for the LOC, each fix/flip transaction is credited against the line.
TERMS:
Evidence of 2-3 Flips in last 24 Months
8 to 9.5% Interest-Only
Up to 90% of purchase
Up to 95% of rehab
Minimum loan amount (purchase plus rehab) - $50k
9 month term
3 points origination
70-75% of ARV
No PPP (minimum 3 months of interest)
600+ credit
Eligible States: AL, AK, CO, CT, DC, DE, GA, IL, IN, IO, KY, LA, ME, MD, MA, MS, MO, MN, NH, NM, OH, OK, OR, PN, SC, TN, TX, VA, WA, WV, WI, WY
Eligible Property Types: SFH, 1-4 Doors, Multi-Family up to 20 Doors and New Construction