70% LTV Hard Money Fix and Flip Financing In Garden Grove

,
70% LTV Hard Money Fix and Flip Financing In Garden Grove

First Capital Trust Deeds arranged a 70% LTV hard money fix and flip financing loan for an Orange County investor on this Garden Grove single family residence. The equity-based hard money loan was pretty simple and easy since the buyer came in with 30% down payment, which provided plenty of protective equity for the trust deed investor (lender) who issued the loan.

Even though the loan carried an 11.00% note rate, the borrower was able to complete the renovations to the home within four months and place it back on the market. They sold it right before the six month anniversary, which made the monthly interest-only payments at 11.00% much more palatable than had the loan gone the full twelve months.

We’re always happy to see our house flipping clients get in and out within six months. The ones who consistently generate consistent profits tend to buy homes that can be resold to first-time home buyers using 95-97% LTV financing up to Fannie Mae and Freddie Mac’s $625,500 high balance areas like Orange County.

Hard Money Fix and Flip Financing Terms:

  • $322,000 Loan Amount
  • 11.00% Interest-Only
  • $2,951/Month Payment
  • 12 Month Term
  • No Prepayment Penalty
Do you have a similar financing scenario?
Inquire about your financing options with FCTD.