Fix and Flip Program
Many people have the desire to fix and flip real estate. This type of real estate activity can be highly lucrative as well as thrilling to do. However, before your clients can complete the work on their property, they may need to obtain financing for the purchase as well as the repair work needed to complete the project. If you want to provide clients with financing to fix and flip a property, look no further than Velocity Commercial Funding.
Our Fix and Flip Loan Program
This is an attractive loan program with competitive terms and simplified underwriting, making it ideal for your current project. Some of the loan terms that you will find with this program include:
- No upfront lender fees
- Up to 6 months loan term, with 12 months available on a case by case basis
- Flipper must show the ability to complete the project
- Property must be in a major metropolitan area
- Flipper must have at least a 650 credit score
- Max loan-to-value-price is 65 percent
- Work must be completed within 90 days, 120 days is available on a case by case basis
- Loan amounts from $50,000 to $2 million available
- Rates starting at 7.99 percent
It can be a challenge to find the right fixer upper loan program to use for a flipping project, but rest assured that we have the solution that you are looking for. At Velocity Commercial Funding, we strive to provide the exceptional loan programs that are needed to help our valued partners achieve their goals, and we believe that this loan program is ideally suited for your clients’ fixing and flipping needs. We want to help you achieve success in your activities, so contact our office today for assistance. We will carefully prequalify your clients for the financing they need, and we are eager to begin helping you with your current project.
Call us today at (800) 984-6830 or email us here to get more information.