- 707 Westchester Ave, Suite 305 White Plains, New York 10604
Fix and Flip Loans
OUR FIX AND FLIP LOANS
RealFi REIT has developed a new fix and flip program designed for the experienced redeveloper of residential properties. For seasoned developers, we can provide 75% to 90% leverage on acquisition pricing and up to 100% of renovation costs, provided that after repair value costs do not exceed 70%.
Loans
Non-owner occupied residential properties and projects: Fix and Flip, Refinances, Bridge Loans, and Ground Up Construction.
Properties
1 -4 Family Homes, Condominiums, Single Family Homes, and Townhouses intended for residential use.
Loan Size
$75,000 to $25,000,000
Lien Position
Senior, first positions only.
Amortization
Interest only—balloon payment at maturity.
Prepayment Term
No prepayment penalty.
Origination Fees
2% - 5%
Amount Funded
Up to 90% on the acquisition price.
Up to 100% of the rehabilitation budget.
Max Amount After Repair LTV
65% in judicial states/ 70% in non-judicial foreclosure states.
Resources
Personal guaranty required.
Closing timeline
As quickly as one week.
Borrower Type
Ownership must be held in an L.L.C.
Platform
Nationwide.
Investment Property Term Loans
Our Investment Property Term Loans
RealFi REIT has developed an investment property term loan program designed for the experienced redeveloper of residential properties. For seasoned developers, we can provide 70% leverage on the appraised value of the property being secured.
Loan Terms
30-year Fixed, with option for a 3-year or 5-year I/O period
Minimum credit
650 FICO
Maximum Purchase Price L.T.V.
80% L.T.V.
Maximum Refinance L.T.V.
80% L.T.V.
Interest Rate Range
6.0% - 8.5%
Origination Fees
2% - 3%
Brokerage Fees
1% - 2%
Minimum Debt Service Coverage Ratio (DSCR)
1.10
Loan Amounts
$150,000 - $2,000,000
Prepayment Penalty
3/2/1
Amortization
30 year
Borrower Type
Corporation, L.L.C., Partnership.
Asset Types
1-4 Family Homes, Condominiums, Single Family Homes, Mixed-Use Properties, and Townhouses intended for residential use.
Foreign Nationals
Allowed.
Platform
National.