FixFlipLend.com
a subsidiary of Fundamental Inc.
Brokers/Bankers
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)
PLEASE SCROLL DOWN TO SEE OUR LOAN PROGRAMS
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LAND CONSTRUCTION- 65% LTV max
TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Spec Construction, Builder,Investor Rehab Flipper
· Residential/Multi-Family/Commercial Construction
· Land, Urban, Rural, Raw, Agricultural Unimproved
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
Flipper and Non-Owner Occupied
· Exit Strategy at your discretion:
· Purchase Money + Construction
· Refinance + Construction
· Cash out to Construction
· Ground Up Construction
LOAN TERMS
·
· Construction loans 6 months - 1 year
· Loan decision based on ARV, completion value
· Loan decision based on the quality of the project
· Reasonable Construction Periods Private Money
· Flexible Disbursal Schedule
· No Prepayment Penalties
· Non-FICO driven
· INTEREST RESERVE OK
· Rural Land Max LTV 55%
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RESIDENTIAL- 85% LTV max (90% case by case)
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
COMMERCIAL- 80% LTV max (85% case by case)
TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Office Buildings · Retail Centers
· Apartment Buildings · Gas Stations/Auto Centers
· Mixed-Use · Hotels/B&B/Motels
· Medical/Dental Facilities · Agricultural
· Warehouses · Manufacturing Facilities
· Restaurants · Auto Facilities
· Industrial · Leisure & Gaming
· Commercial Condos · Owner Occupied Business
· Condo Projects · Special Purpose
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
· Nationwide- Owner or Non Owner Occupied
· Purchase Money
· Refinance
· Cash out
· Property Listed for Sale/ REO/ Short Sale
· Foreclosure/Bankruptcy Bailouts
· Owned by Sole Proprietorship, LLC or Corporation
· Properties in Probate/Trust or Auction
LOAN TERMS - Private Money
· LTV up to 80% (85% case-by-case)
· Loan Term: 90 days, 6 months, 1 year, 2 years
· No Prepay Penalties
· Cross Collateralize for Maximum Loan Amounts
· Not FICO Driven
· DSCR: No Minimum/ Vacant OK
· No tenant OK, No Credit OK, No TI OK