FIX AND FLIP LOANS

Loan will be 100% of the sale price and 100% of the repair funds, not to exceed 65%of the ARV (after repair value).

Turn around time on the loan: Within (2) weeks.
Maximum length of the loan: (12) months.
No pre-payment penalties
Deferred payment plans available
Seller’s concessions/assists may be used to finance the closing costs, as long as the loan does not exceed 65% ARV.
If purchase and repairs costs are below 65% of ARV closing costs can be wrapped into the loan.
Interest only payments (no principal) until the property is sold or refinanced.
Repair funds go into an escrow account: The escrowed repair funds are paid in draws as work is completed.
To qualify you must have a credit score of 620 (no exceptions). Currently have 25% of repair costs in cash reserve. Loan amounts higher then $30,000.00. Appraisal done by our company (must be paid up front to appraiser). Two year tax returns, bankstatements, or W-2 and paystubs needed. We currently DO NOT offer this loan program in the states of CA,LA,MI,VT, Alaska or Hawaii. Must be a single residential property, up to four units.

Please visit my website at http://www.careymortgage.com. Or call me for your Fix and Flip Loan!

what are the points and interest, are there income restrictions if you more than qual on all other points?

Tony,

Please contact me to discuss. http://www.careymortgage.com