Typical Loan Terms
No Money Down Fix & Flip Loans
Loan Term
- 12 Months
- No prepayment penalty
Interest Rate
- 8% to 13%
Payments
- Monthly Interest Only
Points
- 2% to 3%
Additonal Fees
- No Appraisal Fee
- No Processing Fees
Loan Amount
- $100,000 to $750,000
LTV
- Up to 100% of Purchase and Repair Cost
- Up to 70% ARV (After Repair Value)
- Points can be financed
- All repair money is held and released as the work is completed
Eligible Properties
- Single-Family Residential
- Condominiums
Areas We Serve
- Colorado, primarily the 5 county greater Denver metropolitan area
Credit (FICO)
- Minimum FICO score of 600
Required Documents
- List of properties bought and sold in the past 24 months
- Renovation Budget
- Sales Contract
- Corporate entity documents (articles/certificate of formation and operating agreement)
- Credit/Background Report (First Time Borrowers)
30 to 60 Day Bridge Loan
Loan Term
- 30-60 Days with the option to extend
- No prepayment penalty
Interest Rate
- 1% Per Month
Payments
- None
Points
- 1% to 1.5%
Additional Fees
- No Appraisal Fee
- No Processing Fee
Loan Amount
- $100,000 to $750,000
LTV
- Up to 75% of Purchase Price
Eligible Properties
- Single-family Residential
- Condominiums
Areas We Serve
- Colorado, primarily the 5 county greater Denver metropolitan area
Credit (FICO)
- Minimum FICO score of 600
Required Documents
- List of Properties bought and sold in the past 24 Months
- Renovation Budget
- Sales Contract
- Corporate Entity Documents (articles/certificate of formation and operating agreement)
- Credit/Background Report (First Time Borrowers)
Acquisition Loans
Loan Term
- 12 Months
- No prepayment penalty
Interest Rate
- 8% to 12%
Payments
- Monthly Interest Only
Points
- 1.5% to 3%
Additional Fees
- No Appraisal Fee
- No Processing Fee
Loan Amount
- $100,000 to $750,000
- $100,000 to $750,000
LTV
- Up to 90% of the purchase price
Eligible Properties
- Single-family Residential
- Condominiums
Areas We Serve
- Colorado, primarily the 5 county greater Denver metropolitan area
Credit (FICO)
- Minimum FICO score of 600
Required Documents
- List of properties bought and sold in the past 24 months
- Renovation Budget
- Sales Contract
- Corporate Entity Documents (articles/certificate of formation and operating agreement)
- Credit/Background Report (First Time Borrowers)
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