Flipping Houses Loans. House Reseller Financing
You can enjoy a quick closing and high loan-to-values with our rehabilitation loans. Rehab loans are tailored for the real estate investor who wants to purchase, rehab, and flip residential properties.
Using the property as collateral, funds are available for short-term residential renovation projects that most traditional banks and credit unions won’t approve.
You can be approved for 100% of the financing you need to buy and rehab residential properties. Lenders will verify that the amount you are requesting is 65% or less of after-repair value of the property.
You can be approved for a short-term loan of 6 months, and can also get extended terms upon request. There is no prepayment penalty, so you can sell the home faster and pay off the entire loan without any cost to you whatsoever.
Easy to Get Approved!
There are three main elements lenders are looking at to approve you for this program. Firstly, you should have prior and recent flipping experience. Lenders will request you list your recent projects verifying that you have recent experience of selling 2 homes or more.
Secondly, lenders will verify that you have average credit. You can be approved with credit scores as low as 640 as long as you don’t have any severe negative credit items on your report that are recent.
Lastly, to get approved you should be liquid. Lenders will want to see that you have money in the bank, and you will be required to put funds into an escrow account for security. The amount of liquid funds varies based on project, but you should only apply if you have at least $30,000 in liquidity now.
So you can be approve, even with average credit, as long as you have some flipping experience and money in the bank.
100% of funds to purchase and rehab property No application fees
Simple application is all that’s needed for approval Get approved with average credit
48 hour pre-approval Application to funding in 3 weeks or less
Rates of 8-18% based on risk Get financing for multiple homes Loans starting at $25,000 Apartments rehab financing available
Do you want money for your business? Get approved at this link http://www.creditsuite.com/getfunding
June 13, 2015 by, Ty Crandall Credit Suite