
Fix & Flip Loans
MAKE SENSE UNDERWRITING CRITERIA FOR LOAN APPROVAL
1. Loan to Value: Is it below 90%
2. Exit Strategy: Do you have a good plan to Fix Flip Sell
3. Ability to Pay: Can the monthly payments be made
4. Use of Funds: Is the budget enough, are the costs correct
MINIMUM DOCUMENTATION FOR FUNDING APPROVAL
1. Sub Form or Executive Summary
2. 1003 Loan Application & Borrower Auth.
3. Budget or Rehab Breakdown (ARV Summary)
4. Purchase Contract (if Purchase)

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RESIDENTIAL- 85% LTV max (90% case by case)
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TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Single Family Home (SFR) · Manufactured · Urban
· Duplex · Mobile · Rural
· Triplex · Modular · City
· 4-plex · Condo · Rehab
· California - Texas -
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
· Non Owner Occupied or Investment or Second Home
· Purchase Money
· Refinance
· Cash out
· Property Listed for Sale/ REO/ Short Sale
· Fix and Flip or Construction Ground Up OK
· Owned by Sole Proprietorship, LLC or Corporation
· Foreign Nationals OK
LOAN TERMS
· LTV up to 85% (90% ltv case-by-case)
· Loan Term: 90 days, 6 months, 1 year, 2 years
· No Prepayment Penalty - 6 Month Prepayment
· Interest-only Payment
· Cross Collateralize for Maximum Loan Amounts
· SIVA/SISA/No Doc
· Not FICO Driven, Self Employed OK, Bad/No Credit OK
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