Updated: Sep 8
The 100%/100% funding is not — let me emphasize — not for the borrowers looking to get into the Fix & Flip on the cheap. This product is for well-positioned buyers with good income and lots of liquidity. Be assured that money will be required to close this 100%/100% loan.
Here's What You'll Need
2 to 4 points for the lender
The NSS processing fee
At least $2,500 to cover the appraisal
The $250 lender application fee
Title search costs
THIS IS A FULL DOC LOAN IN THE ALTERNATIVE LENDING SPACE
What will be required?
Two years of business tax returns
Two years of personal tax returns
Six months of business bank statements
Six months of personal bank statements
The lenders also require that the money be seasoned, meaning the funds have been in the account for six or more months.
$50K to $1MM
Up to 65% of the After Repair Value (ARV’)
WHERE CAN YOU GET FUNDED 100%/100%?
Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Louisiana, Maine, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, West Virginia, and Texas