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Visions Capital Funding |
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See What VISIONS Can Do For You |
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REHAB/FIX & FLIP FUNDING GUIDELINES |
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WHAT IS REHAB/FIX & FLIP FUNDING?
Rehab Funding or Fix & Flip Funding is a short term loan secured by non-owner occupied real estate (investment property) for the sole purpose of acquiring and renovating the property in anticipation of a resale for profit.
Key Benefits to Borrower:
1) Your credit is reviewed once every 12-18 months (no negative impact on credit scores from multiple inquiries). 2) No payments for 6 months, unlike traditional financing where first payment is typically due within 30-45 days. 3) Interest only payments in months 7-12 if needed
Eligible Property Types:
Non-owner occupied Properties only (Residential 1-4 family. Small Apartment and Condo conversions on a case-by-case basis).
Lien Position:
First Mortgage Only
Loan Term:
6 months-extendable for up to 12 months
Loan Amount:
Up to 100% of Total Project Costs (Acquisition and Renovation)
LTV (Loan-to-Value):
Up to 70% of ARV (After-Renovated/Repaired Value)
Prepayment Penalty:
None
Quick Funding:
Once pre-approved, funding of each individual transaction is typically in two weeks.
Funding States:
All except: AK, AR, AZ, KS, HI, ID, IA, MT, NE, NV, ND, OR, SD, VT, WV, WY
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