The loan was very straight forward as there were no rehab funds held back and no going back and forth with the lender and buyer over the as-is value or after repair value of the property. It was just a simple 75% LTV purchase money fix and flip financing loan.
Usually in our daily workday, we don’t see loans like this. Most everything that we are working on is somewhat complicated and time consuming. So every once in a while, it’s nice to see a loan like this come in which doesn’t command several hours out of the day.
Fix and Flip Financing Terms:
- $332,500 Loan Amount
- 12-Month Term
- No Prepayment Penalty