An experienced house flipper used a 78% LTV fix and flip financing loan in San Pedro to acquire a distressed duplex with financing from First Capital Trust Deeds.
This San Pedro 78% LTV fix and flip financing loan was pretty easy as the buyer had a successful and verifiable track record of renovating houses throughout the greater Los Angeles area. They also came in with 22% down payment so the loan process went very quickly as the loan was approved by the trust deed investor almost instantly and loan docs were available within a few hours, or whenever all the parties were ready to have them signed.
We like these private money fix and flip loans because they make sense for everyone involved from the borrower, the lender, and for FCTD as the mortgage broker.
78% LTV Fix and Flip Financing Terms:
- $280,000 Loan Amount (78% LTV)
- 11.00% Interest-Only
- 12-Month Term
- No Prepayment Penalty