Fix-n-Flip

Fix and Flip

Fix-and-flip loans are short-term financing options for real estate investors who aim to purchase and renovate properties for resale at a profit or for refinancing purposes.

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Standard Loan Terms

Max Loan Amount: $5,000,000

Max LTC/ARV (Loan to Cost / After Repaired Value):

– Experienced Investors: The Lesser of 85% LTC or 70% ARV.
– Inexperienced Investors: The Lesser of 80% LTC or 65% ARV.

Rates: Starting at 9.99%

Term of loan: 6-18 months

Payments: Interest Only with balloon at maturity.

Prepayment penalty: None

Interest type: Non-Dutch

Standard Closing Costs

Origination Fee: 1-2%

Underwriting Fee: $1,500

Draw Fee (for future draws on the loan): $350

Legal: $750 – $1,500

Appraisal Fee: $500-$950

Title Insurance and recording fees: 1% (Approximate)

Standard Closing Time

The Usual Time to Close is 10-15 days.

RBI Private Lending is a direct lender and does not rely on other institutions to close the loans. Once the title work, appraisal and feasibility report are ready, We will be too!

Standard Requirements

Credit Application

Last 2 bank statements (US bank account)

Copy of ID and Borrowing Entity docs

Purchase Contract (If Purchase)

Project budget/ Scope of work

Approved plans (If applicable)

Track Record Sheet

Contractors information

Property Insurance

Property Types

Condominiums.

Single-family residences.

Two to four units.

Multifamily homes.

Townhouses.

Other property types case by case

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