This is not, let me emphasize NOT for the borrowers looking to get into fix and flip on the cheap. This IS for well positioned buyers with good income and lots of liquidity. Be assured—even the 100% / 100% there is money required to close this loan. 2 to 4 points to the lender, NSS Processing Fee $2500, appraisal, $250 lender application fee, title search, etc.
THIS IS A FULL DOC LOAN IN THE ALTERNATIVE LENDING SPACE
What Will Be Required?
Two years of business and personal tax returns
Six months of business and personal bank statements---the lender requires that the money is seasoned---it’s been there for 6 or more months.
The Lenders also requires that you have minimally six months of payments in your bank account to cover the interest payments
$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