Financing for Real Estate Investors
Property flipping is at its highest level since 2007, which is not surprising. Rising home values along with an abundance of older homes in need of upgrades is helping flippers locate, renovate and sell properties to home buyers at a rapid pace.
And while buying, fixing and quickly reselling properties can be lucrative, it does take a great deal of capital to flip a house. Not only do you need the money to become the property’s owner, but you also need funds for to cover things like: renovation costs, property taxes, utilities and home insurance – from the day the sale closes through the rehab work and until the day it sells.
Because of this, having enough capital to make house-flipping a real business is commonly a major roadblock for new, and even veteran, house flippers, …. until now.
Fix and Flip Financing for New and Veteran Flippers
As home renovation lending experts, American United is pleased to offer the following options for new and seasoned Flippers;
Flip & Flip Line of Credit: Qualified and experienced home flippers can take advantage of our Flip & Flip Line of Credit – an open line from $50,000 – $2,500,000 that can be accessed for multiple transactions throughout the year. Additional highlights include:
- Funding up to 90% of the purchase price
- 95% of the rehab cost
- 75% of the future “after improved” value
- Line for individual investors, LLC’s or Corporations
- 1-4 Family Properties, Condominiums, or Multi- Family to 20 units
- Approval based on experience, liquid assets, net worth, and credit score
- New Construction Financing for Investors & Builders also available
Single Loan: Our Single Loan is a great way for first-time flippers to get started. No experience required. And after your initial purchase and sale, your newly seasoned status will allow you to qualify for our Line of Credit moving forward.
For additional details and/or to begin the application process, contact your New Jersey local residential lending expert, Joe Farella at 908.322.5423, or by email at: firstname.lastname@example.org
Loans for are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates vary depending upon loan type, LTV, verification of application information and other risk-based factors. Application fees, closing costs and other fees may apply. 1. Borrowers are approved for a maximum exposure limit, based on their experience, liquid assets, net worth, and credit score. 2. Each loan is subject to property approval under Investor Commercial terms and conditions. Each property has an individual secured loan. 3. Land must be already be improved/developed for use (ie., ready for utilities and plumbing.) All applicable building permits must be submitted; if building permits not submitted, funding limited to 60% of lower of land value or purchase price. 4. New Construction loans are ineligible for condo property types